Heng Cheng Huai (38246) had been punished and imposed a fine of RM5000-00 and costs of RM3000-00 by the Disciplinary Committee of the Institute on 16/6/2020 for handling the tax audit conducted by the Inland Revenue Board on Sastama Sdn. Bhd. in respect of the years of assessment 2012 to 2015 when he is not a registered tax agent and thus would not have been qualified to do so.
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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