Section 67
Appointment of auditor by institution
of Financial Services Act 2013
(1)
Every institution shall appoint an auditor for each financial year who meets such requirements or has such qualifications set out in any standards as may be specified by the Bank under subsection 47(1).
94 Laws of Malaysia
(2)
Except with the prior written approval of the Bank, no licensed person shall appoint any person as its auditor and no person shall accept any appointment as an auditor of a licensed person.
(3)
An approved person or operator of a designated payment system shall notify the Bank of the appointment of its auditor within such period as may be determined by the Bank.
(4)
For the purposes of this Division—
(a)
a person shall not be deemed to be an officer of an institution by reason only of him having been appointed as an auditor of the institution; and
(b)
the term “appointment” includes reappointment.