Grant Thornton Malaysia PLT
Regulator warningMalaysia. Named in 1 sanctions listing.
Summary
Grant Thornton Malaysia PLT (GTM)
Sanctions and listings1
- Effective
- 5 Jun 2024
Official designation
Suruhanjaya Sekuriti MalaysiaMalaysia Securities Commission AOB EnforcementsMalaysia
On 11 June 2024, GTM appealed to the SC against the sanction imposed by the AOB. The SC dismissed the appeal and affirmed the decision made by AOB. and penalty of rm150,000
Failure to meet the quality objectives of the International Standards of Quality Management (ISQM) 1 GTM failed to ensure that the firm’s partner comply with the requirements of the MIA-By-Law on the rotation of key audit partners. Consequently, the firm has failed to meet the quality objective of ISQM 1 relating to the firm’s responsibility to ensure that the firm and its personnel comply with relevant ethical requirements.
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) SCMA.
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