Tan Boon Jin (1087):-
1. being the sole proprietor of Messrs. B.J. Tan & Co. had been suspended for 12 months effective 1/1/2023, imposed a fine of RM5000-00 and costs of RM4000-00 by the Disciplinary Committee of the Institute on 29/8/2022 after the Firm has been rated as “Type 4 – Unsatisfactory” as indicated in the Practice Review Report dated 30/1/2019 which detailed the weaknesses in the audit work performed.
2. being the sole proprietor of Messrs. B.J. Tan & Co. had been suspended for 12 months effective 1/1/2023 and imposed a fine of RM5000-00 by the Disciplinary Committee of the Institute on 29/8/2022 where during the review and the examination of his audit working papers on certain of the Firm’s audit clients selected for practice review (i.e. Sunbay Resources Sdn Bhd for FYE 31/7/2017 and Builtmax Properties Sdn Bhd for FYE 31/12/2017) together with their statutory records, had revealed that his son served as the company secretary of those audit clients. Consequently, this would constitute a threat to independence of the Firm. However, such significant threat was not evaluated and necessary safeguards were not applied by him to eliminate the threat or reduce it to an acceptable level.