Subsection 113: Professional Competence and Due Care
Subsection 114: Confidentiality
Subsection 115: Professional Behaviour
Section 310: Conflict of Interest
Section 320: Professional Appointment
Section 321: Second Opinion
Section B200: Method of Practice
Technical knowledge of insolvency practices and rescue schemes including MIA’s Insolvency Guidance Notes (IGN), winding up rules and relevant provisions of other legislation affecting insolvency administrations (e.g. Employment Act)
Legal cases relevant to insolvency administrations
Methods of asset disposals and the procedures, precautions and other factors to be considered
COVERAGE – NON-CORE AREA
Role of special administrators under various Acts applicable from time to time
Consultative paper issued by SSM or other authorities dealing with insolvency practices or the general accounting landscape (in relation to insolvency engagements)
The scope was last updated in March 2020. It is expected that these areas will evolve over time.
It is not expected that an interviewer has to cover all the above areas in each interview session.
The same standard should apply for all interviewees without regard to their experience profile
Unit 33-01, Level 33, Tower A, The Vertical, Avenue 3, Bangsar South City,
No.8 Jalan Kerinchi, 59200 Kuala Lumpur, Malaysia.
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.’