Yean Wai Nye
Regulator warningMalaysia. Named in 1 sanctions listing.
Summary
Yean Wai Nye (“Yean”) of T. H. Kuan & Co. (AF 1216) is the engagement partner for the audit of a Public Interest Entity (“PIE”) for the financial year ended 31 March 2021.
Sanctions and listings1
- Effective
- 28 Jun 2023
Official designation
Suruhanjaya Sekuriti MalaysiaMalaysia Securities Commission AOB EnforcementsMalaysia
Reprimand
Failure to comply with relevant requirements of the International Standards on Auditing (“ISA”) Yean failed to perform sufficient audit procedures and obtain sufficient audit evidence to support the conclusions reached on the valuation of goodwill. Yean failed to challenge the key assumptions used for the financial projections and assess the appropriateness of the expert’s work as audit evidence in auditing management’s impairment assessment of goodwill. In these instances, the auditor had failed to ensure the sufficiency and appropriateness of the audit evidence obtained and the completeness of audit documentation in the audit file.
Breach of Section 31Z(1)(b) of the Securities Commission Malaysia Act 1993 (“SCMA”) for failure to comply with AOB’s conditions of registration imposed by the AOB pursuant to Section 31O(3) of the SCMA.
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