Thursday 26 August 2021

Audit Oversight Board. Bad Moon Rising

is the lead single from the album called Green River by Creedence Clearwater Revival or better Known as CCR.  

The song was a top 3 hit on nothing sites of the causeway some 52 years ago in 1969.

Sarawak Kini has asked a question. READ : IF KPMG ERRED, WILL BURSA AND SC BE SWIFT TO REPRIMAND?

I believe  that the SC would be more than happy to reprimand KPMG and close the case as soon as possible, failing which they know for sure there will be A BAD MOON RISING. 

Well don't go around tonight
Well it's bound to take your life
There's a bad moon on the rise, all right
Hope you got your things together
Hope you are quite prepared to die
Looks like we're in for nasty weather
One eye is taken for an eye


It is  READ : Serba Dinamik RM4 billion suitagainst  KPMG which will most worry the SC especially  its Audit Oversight  Board.

Lose that case and the implications are READ The Audit Oversight Board & Sub Standard Audit Standards.

The AoB have ruled the roost with arrogance and instead of helping smaller firms by allowing them to form joint ventures among themselves to audit Public Interest Entities, the AoB has become the main factor why many accountants are leaving the audit business.


And you can keep bullying firms such as Afrizan Tarmili Khairul Azhar and PKF Malaysia,  because you have the power to do so, while you can  under the technicality that 1MDB is not a PIE, therefore you haven't moved against KPMG.

But what you gonna do if KPMG loses the case? put in on the tab of the Malaysian Institute of Accountants (MIA),  the body which in all intent and purpose should be running the show!!!