Lee Chong Kuang (28410) in his capacity as the director and shareholder of Greenpro Capital Village Sdn. Bhd. (“Company”) had been punished and imposed a fine of RM4000-00 and costs of RM5000-00 by the Disciplinary Committee of the Institute on 6/12/2024 for he had on 14/9/2020 advertised and promoted audit and tax services in the Malaysia Services E-Directory at http://malaysiaservice.matrade.gov.my and via the website of the Company at www.greenprocapital.com, where such advertising and/or promoting may lead the public at large t0 infer that he and his Company are qualified to provide auditing and tax services when in fact he does not possess a valid audit licence nor a tax agent licence issued by the relevant Malaysian authority and therefore is not authorised to advertise and/or promote and/or offer such services.
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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