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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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Bibliographic Details
Main Author: Loganathan Krishnan
Format: Book chapter
Language:English
Published: Universiti Sains Islam Malaysia 2012
Online Access:http://ddms.usim.edu.my/handle/123456789/5631
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spelling my.usim-56312015-03-03T02:07:39Z Criminal Liability of Auditors for Financial Statements Loganathan Krishnan 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. 2012-06-26T08:01:18Z 2012-06-26T08:01:18Z 2010 Book chapter 1985-7454 http://ddms.usim.edu.my/handle/123456789/5631 en Universiti Sains Islam Malaysia
institution Universiti Sains Islam Malaysia
building USIM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universit Sains Islam i Malaysia
content_source USIM Institutional Repository
url_provider http://ddms.usim.edu.my/
language English
description 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.
format Book chapter
author Loganathan Krishnan
spellingShingle Loganathan Krishnan
Criminal Liability of Auditors for Financial Statements
author_facet Loganathan Krishnan
author_sort Loganathan Krishnan
title Criminal Liability of Auditors for Financial Statements
title_short Criminal Liability of Auditors for Financial Statements
title_full Criminal Liability of Auditors for Financial Statements
title_fullStr Criminal Liability of Auditors for Financial Statements
title_full_unstemmed Criminal Liability of Auditors for Financial Statements
title_sort criminal liability of auditors for financial statements
publisher Universiti Sains Islam Malaysia
publishDate 2012
url http://ddms.usim.edu.my/handle/123456789/5631
_version_ 1645151716717363200
score 13.223943

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