Serba dinamik audit issue - Serba Dinamik’s board must answer audit issues, says industry body

It should be manageable.

Serba Dinamik’s Special Independent Reviewer EY Presented Evidence Substantiating Issues Raised by Ex

If the Court disagrees with Serba Dinamik and finds that consent of the company is not required before an auditor reports its findings of irregularities to the regulatory bodies, the next consideration would then be whether auditors can be bound by contractual obligations which bar them from immediately disclosing the report to the regulatory bodies? There is negligence, plus the red flags on trivial issues.

In conjunction with the AGM, the ICDM published its second ICDM Report covering progress and key organisational milestones for the financial year ended December 31, 2020 FY2020 , as well as for the period from January to April 2021 to reflect the most current updates.

This is done by ensuring that results reported by the company tie back to the daily business growth and prospects of a company.

Going against that and even threatening to remove the auditor triggers yet another red flag that something could be amiss.

The statement was issued following an online press briefing by director Datuk Mohamed Ilyas Pakeer Mohamed yesterday.

Source: Securities Commission lodges police report against Serba Dinamik

In terms of the timeline, we will work out the necessary timeline to meet the deadlines imposed onto the company.

We hope that KPMG takes the cue that the relationship is no longer tenable, and they will resign as the auditor.

Description: Meanwhile, Lim said 2020 was a bumpy ride for all businesses and ICDM was not spared.

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To this end, ICDM is working with other institutes of directors in Asean to establish an Asean Director Network to serve the growing needs of the regional markets as well as to offer Asean board candidates to the rest of the world.
KPMG claimed that the court action has compromised its ability to independently continue to audit the company and discharge its professional duties.

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    KUALA LUMPUR (June 22): Serba Dinamik Holdings Bhd today conducted a press conference — the second one after the company's audit issues have been made known. The company seemed to have sprung a .
    By: faroffland|||||||||
    KPMG raised audit issues on transactions involving over RM3 billion, says Serba Dinamik Serba Dinamik's second largest shareholder proposes removal of KPMG as auditor Serba Dinamik board wanted KPMG to resign, but auditor refused to do so, says executive director Syed Nazim 'We have done nothing wrong,' says Serba Dinamik MD Abdul Karim
    By: Andlein|||||||||
    SHAH ALAM – Serba Dinamik Holdings Bhd will file a civil claim for substantial damages against its external auditor, KPMG PLT, on the grounds of professional negligence, as well as breach of contract and statutory duty.
    By: AndresProphecy|||||||||
    KUALA LUMPUR (May 28): The audit issues raised by Serba Dinamik Bhd’s auditor KPMG are in relation to the company’s sales transactions, trade receivables and payables, as well as material on site balances, according to the company’s filing with Bursa Malaysia.
    By: Amarall1|||||||||
    By: digital-aaron||||||||| - 2022
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