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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.
Understand the remaining 3 steps of revenue recognition in IFRS 15. It includes how should an entity assess its progress towards satisfaction of performance obligations to customer to justify for its revenue recognition.
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.
Find out how IFRS 15 helps entities to apply a consistent revenue recognition principles across industries.
Find out how entities should account and report the effects of changes in Foreign Exchange Rates in their financial statements under IAS 21, including how to determine entities’ functional currency.