KUALA LUMPUR: Bursa Malaysia and Securities Commission (SC) clarify that they have not spoken to Serba Dinamik Holdings Bhd chairman Datuk Mohamed Ilyas Pakeer Mohamed as reported.
Bursa, in a statement today, said such conversation did not take place.
Bursa also said it had issued a query to Serba Dinamik today to request a status update and timeframe in relation to the appointment of an independent reviewer of its 2020 financial account.
"To provide clarity to the market, it is imperative that Serba Dinamik undertake the necessary steps to appoint the independent reviewer immediately to address the uncertainty surrounding the veracity and accuracy of the matters as highlighted by its external auditors in a timely manner.
"The exchange is committed to ensuring the proper dissemination of accurate and timely information to the capital market," Bursa said.
In a separate statement, the SC said it had not spoken to Ilyas as reported in the article entitled "What Serba Dinamik said on its audit issues", which appeared in The Edge CEO Morning Brief this morning.
The SC also said its investigation into Serba Dinamik was on-going.
The commission reiterated that under the Capital Markets and Services Act 2007, auditors have a statutory obligation to immediately report to the SC, if they reasonably believe that there are any matters which may constitute a breach or non-performance of any requirement of securities laws.
"The SC's Audit Oversight Board also stated that external auditors play an important role in promoting confidence in the quality and reliability of audited financial statements in Malaysia.
"As such, auditors should be allowed to carry out their responsibilities and render their independent opinion without fear or favour, and discharge their duties free from any retaliation."
The SC added that auditors were also required to exercise their professional scepticism during their audit and always apply the International Standards of Auditing adopted by the Malaysian Institute of Accountants.