Criminal Liability of Auditors for Financial Statements
This article discusses the legal position of the auditors in Malaysia under the criminal law. It examines whether the legal principles under this law are able to address the scandals which have emerged in recent years pertaining to auditors. It also investigates whether the legal principles under...
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| Main Author: | |
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| Format: | Book chapter |
| Language: | English |
| Published: |
Universiti Sains Islam Malaysia
2012
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| Online Access: | http://ddms.usim.edu.my/handle/123456789/5631 |
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| Summary: | This article discusses the legal position of the auditors in Malaysia under the
criminal law. It examines whether the legal principles under this law are able
to address the scandals which have emerged in recent years pertaining to
auditors. It also investigates whether the legal principles under criminal law
impose additional duties and obligations on auditors as opposed to those
duties and obligations imposed under the company law. The study finally
discusses whether action can be brought against the auditors and the
difficulties faced in doing so. These issues are extremely crucial because
auditors' profession is becoming a high-risk profession. Therefore, principles
of criminal law coupled with its intricate rules have to play its role effectively
to ensure that the interests of all parties who have a stake in the matter are
well-balanced with the role and duties expected of auditors. This study
suggests that the current legal framework under criminal law governing
auditors must be reassessed in the wake of the scandals involving auditors
both in the domestic and international forefront. |
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