Wan Ahmad Fareed Wan Ali (39804) as the director of Warna Wan Ali & Associates Sdn. Bhd. (‘the Company’) had been punished and imposed a fine of RM3000-00 and costs of RM5000-00 by the Disciplinary Committee of the Institute on 7/7/2025 for he had on 1/11/2022 advertised, promoted, and/or misrepresented that he and/or the Company is seeking for a candidate for the job vacancy as an audit associates on http://jawatan.me/job and on 3/11/2022 indicated that he and/or the Company offer and/or provide audit service on http://malaysiadata.com/company/rqyvkd/warna-wan-ali-associates-sdn-bhd which is likely to lead persons to infer that he is qualified to practise the profession, when in fact he is not allowed to provide audit service without holding a valid audit license issued by the relevant authority. Further, pursuant to the Accountants Act 1967 and the Companies Act 2016, a company is prohibited from carrying on a business of auditing.
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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