Al Jafree Salihin Kuzaimi PLT

On 22 May 2025, AJSK appealed to the SC to reduce the monetary penalty imposed by the AOB. The SC dismissed the appeal and affirmed the decision made by the AOB. and monetary penalty of rm200,000 pursuant to section 31z(2)(h) of the scma.

Failure to comply with relevant requirements of the International Standards on Auditing (ISA) in the engagement review of a Public Interest Entity (“PIE”) AJSK was sanctioned for the engagement reviews of a PIE for the financial years ended (“FYE”) 30 June 2020 and 30 June 2021, whereby its auditors failed to perform adequate audit procedures and obtain sufficient appropriate audit evidence in the audit areas of non-recognition of prior year adjustments, property, plant and equipment, opening balances, group consolidation and ineffective review by the EQCR (FYE 30 June 2021).

Breach of Section 31Z(1)(b) of the Securities Commission Malaysia Act 1993 (“SCMA”) for failure to comply with the registration conditions imposed by the AOB pursuant to Section 31O(3) of the SCMA.

sc.com.my