Ma Piek Ching (42332) as a member of the Institute and the director of Contaq Advisory Sdn Bhd (“Contaq”) had been punished and imposed a fine of RM4000-00 and costs of RM4000-00 by the Disciplinary Committee of the Institute on 9/3/2021 for advertising that Contaq provides and/or offers audit and tax services via Contaq’s Facebook account and on Jobstreet to the public at large as at 19/9/2019. The said advertisements would lead the public at large to infer that she is authorised to provide public practice services such as audit and tax services via Contaq when she in fact, does not possess a valid audit licence nor a tax agent licence issued by the Ministry of Finance to qualify her to provide 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.’
Regulate • Develop • Advance
@2022 Malaysian Institute of Accountants. All rights reserved.