Syed Zaid Albar. Revolusi MTV

is a song made popular by Indonesian punk rockers Bunkface.  The lyrics to this song goes something like this ;

Aku keliru
Menjadi buntu
Arah yang ingin ku tuju
Rasa resahku kian celaru
Dengan ilham ku tempuh
Aku cuma mahukan
Bayangan resah ku akan hilang
Tapi keadaan memaksa
Menghadapi semua
Inikah revolusi.

I am sure many in the accounting profession will be having thoughts  of despair similar to Revolusi MTV on where the Securities  Commission's  Audit Oversight Board (AOB) is taking the sector to. 

For one, the AOB as we know it is defying physics and pure market economics  as human kind knows it. Let me put it in a much simpler term for the people at the Edge and SC to understand.  CAN A PROTON KANCIL TRAVEL AT THE SAME SPEED CONSISTENTLY AS A FERRARI ? 

If the anwser is NO, then why is it the AOB  does not allow the smaller audit firm's to form joint ventures so that they can audit public listed companies. This is not something, I am pulling out from my own head, Singapore has the common sence to allow such ventures.

Yet the AOB is insistent that even the smaller firms must have the same efficiency level as the big four, without taking into account the staff strength, staff quality and resources available. 

In the Edge's special report, the SC chairman rightfully states ; ``As far as the SC is concerned, we have followed our process, our rules and our regulations``,

The audit world itself is heading towards decentralisation READ ; Big Four refuse to back government plan to break dominance of audit market

but back home in Malaysia  the AOB is tightening the screws on centralisation . 

KPMG as I write has yet to file in its defence papers on Serba Dinamik  lawsuit.  Let's just make TWO assumptions for argument sake. What if KPMG does not get cold feet and then losses the case in court. READ ;  Why the silence AOB.

What will the SC' AOB then say about its rules?. 

The same set of rules it has used against  the smaller firms but is blinded to act IN NATIONAL INTEREST TO SLAP THE HEAVIEST PENALTY POSSIBLE  ON KPMG FOR THE UNFAIR ACT, IT  COMMITTED  AGANST THE PEOPLE OF  MALAYSIA  READ : M’sian government sue KPMG partners for US$5.64 billion