Categories: Complaints & Sanctions, DecisionsPublished On: 21/06/2023

Koa Ching Yi (35273):-

As the sole proprietor of an audit firm, K & Co. (‘the Firm’) had been punished and imposed a fine of RM3000-00 and costs of RM4000-00 by the Disciplinary Committee of the Institute on 21/6/2023 where he was found to have shared the same telephone number with Sino Management Solutions Sdn Bhd and Sino Concept Sdn Bhd (‘the Companies’) for whom he had performed audit services for the financial year ended 31/12/2018 and 31/12/2017. There is also an advertisement/publication posted on Facebook of which it is claimed that the Firm is one of the entities that formed part of the group of companies under Sino Management Solutions Sdn Bhd. Hence, the sharing of the same telephone number with the Companies and the advertisement have given rise to an inference that there are close business relationships between himself/the Firm with the Companies of which these business relationships could be significant and might involve material financial interests between himself/the Firm and the Companies.