Mohd Zamzuri Darus (14347) as a member of the Institute and as a sole proprietor of Messrs. Zamzuri & Co had been punished and imposed a fine of RM5000-00 and costs of RM4000-00 by the Disciplinary Committee of the Institute on 22/10/2020 for failing to adhere to the requirements of Section 550 of the By-Laws of the Institute and its Statement on Practice Review to submit the Remedial Action Plan, Root Causes Analysis and Certification on Completeness despite a reminder to 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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