KPMG resigns as auditor for SCIB
KUALA LUMPUR: KPMG PLT has tendered its resignation as an auditor for Sarawak Consolidated Industries Bhd with immediate effect.
SCIB said on Monday it had received a notice in writing dated July 23 from KPMG PLT on their resignation.
In a filing with Bursa Malaysia, SCIB said it has been seeking legal advice regarding recent events surrounding KPMG that has caused adverse speculation against the company.
This is in light of a perception that the company shares similarities to Serba Dinamik Holdings Bhd which is currently in litigation with KPMG.
“Accordingly, concerns were raised by the company as to whether KPMG is able to continue acting independently in their capacity as auditor consonant with Rule 400.5 of the Malaysian Institute of Accountants By-Laws (on professional ethics and conduct).
“Following this, KPMG has in its notice stated that the views and opinions of the company on KPMG’s independence, coupled with the potential of a claim by the company, has compromised KPMG’s ability to continue to independently discharge their professional duties as auditor of the company,” it said.