Explanatory Note on Anti Money Laundering (Amendment) Act 2003
This article discusses some of the changes brought about by the amendments of Anti Money Laundering (Amendments) Acts 2003. 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 whet...
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| Main Authors: | , |
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| Format: | Book chapter |
| Language: | English |
| Published: |
Universiti Sains Islam Malaysia
2012
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| Subjects: | |
| Online Access: | http://ddms.usim.edu.my/handle/123456789/5634 |
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| Summary: | This article discusses some of the changes brought about by the amendments
of Anti Money Laundering (Amendments) Acts 2003. 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 examines 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. 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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