Abdul Khudus Mohd Naaim (9109) being a former partner of Messrs. SKMN PLT (‘Firm’) had been punished and imposed a fine of RM5000-00 and costs of RM4000-00 by the Disciplinary Committee of the Institute on 26/2/2025 after the Firm had been rated as ‘Unsatisfactory’ as indicated in the Monitoring Review Report dated 3/6/2022 which detailed the weaknesses in the audit work performed.
The use of the word ‘Accountant’
In Malaysia, the word ‘Accountant’ is protected as provided for under the provisions of the Accountants Act 1967 which states that no one can hold himself out or practise as an Accountant unless he is registered as a member of the Malaysian Institute of Accountants.
‘The Malaysian Institute of Accountants is committed to the observance and practice of the highest ethical standards of the accountancy profession. All PC holders are reminded that under the MIA By-Laws (On Professional Ethics, Conduct And Practice), no person shall practice or hold out anything on audit/tax services without a license approved by the Ministry of Finance. Every PC holder is therefore expected to comply fully with Section B200.1 to B200.6 of the MIA By-Laws (On Professional Ethics, Conduct And Practice) failing which, you may be held liable for unprofessional conduct and disciplinary action may be taken against you.’
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