PICTURE this scenario – A once-esteemed employee, who was an integral part of the company’s fabric, leaves the company. However, this departure is wit.
26 Jul 2021 / 10:17 H.
IN recent weeks, news outlets reported high-profile legal suits filed against a leading accounting firm in respect of statutory audits carried out by the firm. The legal suits were filed pursuant to alleged negligence, breach of contractual duty and breach of statutory duties.
The damages claimed in these legal suits amounted to billions of dollars, which may cause concern to all auditors. Can the opinions expressed by auditors in statutory audits expose them to civil liabilities?
Roles and duties of auditors
The Companies Act 2016 (CA 2016) requires all companies to appoint an auditor for each financial year, where the auditor has a duty to report to the members of the company on his opinion on the financial statements prepared by the directors of the company.
PUTRAJAYA (Feb 10): The Federal Court here today allowed the appeal by a Danga Bay housing project developer in Johor to quash the compensatory award given by the Tribunal for Homebuyer Claims to a Singaporean house buyer.
A three-member bench comprising Federal Court judges Puan Sri Zaleha Yusof, Datuk Zabariah Mohd Yusof and Datuk Rhodzariah Bujang allowed Country Garden Danga Bay Sdn Bhd (CGDB) s appeal to set aside the Court of Appeal s decision in dismissing its judicial review to quash the award given by the Tribunal for Homebuyer Claims.
The court ordered the respondent, Ho Chee Kian, to pay RM30,000 in costs.