Malaysia legislation

Section 24

Section 31zd of the principal Act is amended by substituting for subsection (2) the following subsection:

“(2) Notwithstanding sections 31v and 31w, the Audit

Oversight Board may, with regard to a recognised auditor,

Securities Commission (Amendment)

request for assistance from a relevant foreign authority to conduct inspection or inquire into the conduct of a recognised auditor to assess—

the degree of compliance with auditing and ethical standards adopted by the relevant foreign authority by the recognised auditor; and

the quality of audit reports prepared by the recognised auditor relating to audited financial statements.”.

Amendment of section 126