Woo Mun Khean (37303) as a sole proprietor of Ackenting Management Services had been punished and imposed a fine of RM4,000 and costs of RM4,500 by the Disciplinary Committee on 20/3/2023 for he had, on 30/1/2018 till 8/11/2018 engaged in and/or provided and/or offered public practice services, among others accounting, tax, audit and company secretarial services without possessing a valid practising certificate issued by the Institute and/or a valid tax licence and audit licence issued by the relevant authority.
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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