Leong Choon Pang (45762) as a sole proprietor of a non-audit firm, CP Leong & Co (‘Firm’) had been punished and imposed a fine of RM3000-00 and costs of RM4000-00 by the Disciplinary Committee of the Institute on 16/4/2024 for he had on or about 29/8/2023 advertised and/offered and/or promoted and/or represented at the Firm’s website at https://www.cplaccountingservices.com.my and Facebook page, the provision of audit and taxation services, which is likely to lead the public at large to infer that he and his Firm are qualified to promote/offer audit and tax services when he is not allowed/qualified to do so, as he does not possess audit and tax agent license issued by the relevant authority.
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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