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Unformatted text preview: not be extended to cover those of the member firms current or previous
clients’ listings. (d) A reviewer exercising a power under this paragraph shall, if so requested by
a person affected by such exercise, produce for inspection by such person a
copy of the appointment furnished to him/her prior to the commencement
of the review. (2) Subsection (1)(a) applies to any member of the Institute employed or involved in
the member firm to which the particular practice review relates or to any person
employed by or whose services are engaged by such firm. (3) In the event that the audit engagements files selected for review are in respect of
clients from any regulated industry, subsections (1)(a), (c) and (2) shall only apply
after the prior consent on access to those files has been obtained by the Institute
from the relevant regulatory body(ies).
Amended 25 January 2007; With effect from 25 January 2007 28. Normally the reviewer will require a copy of the financial statements relating to the client
file reviewed. The financial statements will be used as a reference for the Practice Review 162 By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants
[Issued January 2007] APPENDICES
Committee to assess the adequacy of auditing procedures in relation to the materiality of
the items concerned. Before the copy of the financial statements is submitted to the
Practice Review Committee for consideration, all references to the client’s name or names
and references within the financial statements which could reveal the client’s or the
member firm’s identity will be concealed by the reviewer.
29. Subject to paragraph 27(3), where it is considered necessary for the proper completion of
the review, a reviewer may request copies of other documentation. In such circumstances,
the identity of the client or references which would reveal the identity of the member firm
will be concealed by the reviewer prior to the submission of these copies to the Practice
Review Committee for consideration.
Amended 25 January 2007; With effect from 25 January 2007
30. At the conclusion of the practice review, a reviewer is required to make a report to the
Practice Review Committee. In doing so, the reviewer shall not name any individual in the
report except in a suitably codified manner.
31. A reviewer shall, before making the report required herein, send a dated draft of the
reviewer’s report to the member firm concerned, and to each individual (if any) who is
named in the report by registered post or recorded delivery addressed to the registered
office or registered address of the member firm or the individual, as the case may be.
32. The member firm, following the receipt of the draft report has twenty-one (21) days
beginning the day after the day the dated draft is sent to make any submissions or
representations, in writing to the reviewer, concerning the dated draft of the reviewer’s
33. The review...
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This document was uploaded on 09/23/2013.
- Fall '13