Ahmad Khamis Magribi Abdul Rahman (23694) being the officer primarily responsible for the financial management of Java Berhad (‘Java’) had been punished by the Disciplinary Committee of the Institute on 23/6/2020 and was imposed a fine of RM4000-00, costs of RM2000-00 and ordered to attend a course relevant to the application of Malaysian Financial Reporting Standards (MFRS) for failing to carry out his duties as a professional accountant with due care and diligence in view of the shortfalls found in the financial statements of Java for the financial year ended 31/12/2016.
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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