As the sole proprietor of a non-audit firm, Arzim Associates (‘the Firm’) had been suspended for 6 months effective 15/8/2022, imposed a fine of RM5000-00 and costs of RM5000-00 by the Disciplinary Committee of the Institute on 19/7/2022 for having failed to lodge the annual return of the Firm with the Institute for the year 2020 by 31/1/2020 as required under the Institute’s By-Laws and had continuously failed to lodge the same, despite repeated reminders from the Institute, till the date a complaint was lodged against him.
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.’