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www.miabylaw.edu.my

MIA By Law

Malaysian Institute of Accountants

Syahirah Naja Nurul N azihah Nurul Shuhada Nurul Ardilla Nur Dania Natasha

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www.definitionbylaw/mbl2021.upsi.edu.my

IFAC MASA ISQC AOB AASB ESB IAPS PRACTICE REVIEW

By - Law

Definition

A by-law is a rule or law established by an organization or community to regulate itself, as allowed or provided for by some higher authority. The higher authority, generally a legislature or some other governmental body, establishes the degree of control that the by-laws may exercise.

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www.fundamentalprinciplesandcinceptionalworks.edu.my

Fundamental Principles & Conceptional Works

Integrity O bjectivity Professional competence & due care Confidentiality Professional behaviour

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objectivity professional competence & due care confidentiality professional behaviour

Integrity

Section 110

Straightforward Fair & truthfulness H onest

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professional competence & due care confidentiality professional behaviour

Objectivity

Section 120.1 & 120.2

(120.1) – Not be get carried away their judgement by emotions. Eg:bias ( 120.2 ) – Shall not perform their services when situation of biases exist.

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www. fundamentalprinciplesandcinceptionalworks/mbl2021.upsi.edu.my

confidentiality professional behaviour

Professional competence & due care

Section 130

Maintain their knowledge and skills A ct diligently P rofessional standards Phases in professional competence Attainment A uditors shall have professional knowledge qualification C omply with the law Maintenance U nderstand and be aware of the relevent technique of auditing

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professional behaviour

Confidentiality

Section 140

N ot disclose any information to third party. C ontinue to keep the confidential information.

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www. fundamentalprinciplesandcinceptionalworks/mbl2021.upsi.edu.my

Professional behaviour

Section 150

Comply with the relevant law. I nform all circumstances to the third party. N ot allowed to make advertisement.

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100.8: THREATS

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Affect The Judgement Of Auditor

Just put whatever you want to put here

Just put whatever you want to put here

whatever you

SELF - INTEREST Financial interest or other interest S9(1)(b),S9(1)(c)

SELF – REVIEW Reviews his own report

FAMILIARITY Long association with the client

INTIMIDATION Low audit fee and spouse

ADVOCACY Become promoter or having share

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METHOD OF PRACTICE

Members should not

Aspect under Section 240 Audit fees Commission Referral

Audit fees Charged by member should be based on day you are work perform to the client. Example : Skill and knowledge, level of training and experience and time necessarily spent engaged on the work . No member shall mislead his client or public by charged an unrealistically low fee below RM500

Aspect under Section 240

Not use a business name to practice the professional. Not allowed to practice as a chartered accountant or licensed accountant other than in his or her own name.

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www.aspectsundersection240.edu.my

A member shall not pay commission to obtain a client.

A member shall not accept commission from the client

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2. Commission

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3. Referral

A situation where a member refer another member to a referral

A professional accountant in public practice may referral fee

The member being referred to need to inform referring member

Treats shall be evaluated and safeguards shall be applied

They may also pay a referral fee to obtain a client

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www.100.9:safequards.edu.my

100.9 : Safequards

Mia : Section 290 Independence Independent in mind: keeping unbiased opinions Independent on appearance: do not have anyshare in client company

Section 9 Companies Act 1965

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THANK YOU