Entity which is of significant public interest

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Unformatted text preview: Negara Malaysia, or statutory bodies or government controlled entities that are of significant public interest, and which require financial statement audits. (xli) public practice services Services requiring accountancy or related skills performed by a professional accountant in public practice including: skills (a) auditing (including internal auditing); (b) accounting and all forms of accounting related consultancy; (c) accounting diligence; (d) forensic accounting; related investigations or due 9 By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants [Issued January 2007] DEFINITIONS (e) (f) costing and management accounting; (h) insolvency, liquidation and receiverships; (i) provision of management information systems and internal controls; (j) provision of secretarial Companies Act, 1965; or (k) related entity bookkeeping; (g) (xlii) taxation, tax advice and consultancy; such other services as the Council may from time to time prescribe. services under the An entity that has any of the following relationships with the client: (a) An entity that has direct or indirect control over the client provided the client is material to such entity; (b) An entity with a direct financial interest in the client provided that such entity has significant influence over the client and the interest in the client is material to such entity; (c) An entity over which the client has direct or indirect control; (d) An entity in which the client, or an entity related to the client under (c) above, has a direct financial interest that gives it significant influence over such entity and the interest is material to the client and its related entity in (c); and (e) An entity which is under common control with the client (hereinafter a “sister entity”) provided the sister entity and the client are both material to the entity that controls both the client and sister entity. (xliii) Rules The rules of the Institute made from time to time pursuant to section 7 of the Act and duly gazetted. (xliv) structured CPE learning activities CPE learning activities which have a clear set of objectives and a logical framework. Structured CPE learning activities include attendances either as presenter/lecturer or participant at short courses, conferences and seminars, recognised post-graduate 10 By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants [Issued January 2007] DEFINITIONS studies or diploma courses and formal ‘home study’ or distance learning courses which require participation and assessment. Such activities include participation or rendering services in a technical committee where technical material is prepared by the professional accountant, or writing technical articles, papers or books for publication. (xlv) unprofessional conduct Conduct which is discreditable to the accountancy profession and includes gross carelessness, neglect and incapacity in the performance of professional duties, improprie...
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