Mea Fatt Leong
Regulator warningMalaysia. Named in 1 sanctions listing.
Summary
Mea Fatt Leong (“MFL”) of McMillan Woods Mea MFL was the engagement partner in the audit of a public listed company for the financial year ended 31 December 2016.
Sanctions and listings1
- Effective
- 19 Nov 2018
Official designation
Suruhanjaya Sekuriti MalaysiaMalaysia Securities Commission AOB EnforcementsMalaysia
Prohibited MFL from accepting any public interest entity or schedule fund as clients for a period of 12 months; Prohibited MFL from auditing the financial statements of a public interest entity or schedule fund for a period of 12 months; and Monetary penalty of RM44,000.00. On 14 December 2018, MFL appealed to the Securities Commission Malaysia on the period of prohibition and quantum of the monetary penalty imposed by AOB. The Securities Commission Malaysia rejected the appeal and affirmed the decision made by AOB. The prohibitions to accept and audit any public interest entity or schedule fund for a period of 12 months will take effect from 14 February 2019.
Failure to comply with certain requirements of the International Standards on Auditing in the performance of an audit of a public listed company.
Breach the AOB’s registration condition imposed under Section 31O(3) of the Securities Commission Malaysia Act 1993.
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