There was a proper notice to show cause issued by the SC, and Deloitte was given an opportunity to be heard on the charges.
KUALA LUMPUR (Dec 24): Audit firm Deloitte PLT today failed to set aside the RM2.2 million imposed on the firm by the Securities Commission Malaysia (SC) over its failure to report breaches linked to the RM2.4 billion sukuk issued by Bandar Malaysia Sdn Bhd (BMSB).
This was after High Court Justice Datuk Seri Mariana Yahya dismissed the audit company s judicial review application for the imposition of the fine ruling under Section 276 (3)(b) of the Capital Markets and Services Act 2007 (CMSA), with her ruling that it was correct in law.