Kiu Chiong Ming (1924) had been punished and imposed a fine of RM3,000-00 and costs of RM3,000-00 by the Disciplinary Committee of the Institute on 5 August 2019 for failure to exercise due care and diligence in carrying out his professional duties by not complying to the auditing and accounting standards which have caused multiple significant deficiencies in the audit engagement performed by his firm.

The Disciplinary Appeal Board in exercise of its powers under Section 21 of the Accountants Act 1967 [Act 94] and Rule 28 of the Institute’s Disciplinary Rules has made an order to confirm and maintain the above disciplinary punishments of the Disciplinary Committee. The order of the Disciplinary Appeal Board took effect on 3 July 2020.