The two updated guides are Guide to Understanding Annual Reports and Auditing and Assurance for Malaysia Listed Companies.
There is a misconception that auditors are part of management, simply because their fees are paid by the company. Understand who is an auditor and what are their roles in the preparation of financial statements.
Serba Dinamik has formally appointed EY as Independent Reviewer to assess the accuracy and veracity of the matters highlighted by the external auditors, KPMG.
Bursa Malaysia has given a directive to Serba Dinamik to appoint an independent reviewer by 2 July 2021.
Following the legal battle between Serba Dinamik and KPMG, EY has agreed to be the independent reviewer with few conditions to be put in place.
Serba Dinamik claims that KPMG has failed and/or neglected to complete the audit report until and unless a third-party independent reviewer is being appointed and addressed the findings raised.