Adam Ray Teh (41417) in his capacity as the director of WeCorporate Global Consultancy Sdn Bhd and as the company secretary of OTH Properties Sdn Bhd (‘OPSB’) had been punished and imposed a fine of RM2000-00 and costs of RM4000-00 by the Disciplinary Committee of the Institute on 24/9/2024 for he had upon receiving a payment of RM1219-00 on 15/10/2020, admittedly failed to lodge or submit the Annual Return of OPSB for the year 2021 with Suruhanjaya Syarikat Malaysia (‘SSM’) which had caused OPSB be compounded by SSM.
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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