Serba Finally Reply The Rm4 5 Billion Question



In an interview with FMT, Serba Dinamik finally explained and replied to the RM4.5 billion KPMG claimed audit discrepancies.
The saga caused some RM3 billion capitalisation of the company wiped out following attempt to sack and resignation of KPMG, sellout by local Fund Manager including Pak Pandir dubbed EPF, resignation of independent members of the Board of Directors and unprecedented lawsuit against an external auditor.
Apparently, 1MDB did the same on KPMG. Another relief to Serba is criminal charge against an ex-KPMG sued by 1MDB and also ex-Serba independent Director. More in Rocky Bru here on the change of perception against Serba.
The crux of the matter is the audit discrepency. Part of it was probably leaked and rebutted back in i-Investor portal. Sarawak Kini discussed it here.
Serba CEO Datok Mohd Karim Abdullah has finally spoken. FMT below:

Stories of RM4.5bil audit discrepancies untrue, says Serba Dinamik

Imran Ariff

August 2, 2021 9:00 AM

PETALING JAYA: Claims of audit discrepancies involving RM4.54 billion in Serba Dinamik’s transactions are inaccurate, its CEO has said.

The figure has appeared in numerous reports about the oil and gas company’s ongoing legal dispute with its former external auditor KPMG, which the company claims had raised several trivial issues that have since been responded to.

In an interview with FMT, Mohd Abdul Karim Abdullah said he wanted to set the record straight on the company’s recent auditing issues.

“Everyone has read the information wrongly, the RM4.54 billion consists of items that shouldn’t be added together. You cannot add costs and revenue together, which is how the figure has been derived. This goes against financial literacy.

“Perhaps, people are intentionally trying to sabotage us by exaggerating the numbers. We are not ruling this out,” he said.
On April 12, Serba Dinamik’s board was unable to approve the company’s 2020 accounts after KPMG refused to complete its independent audit until issues it raised were addressed.

However, Karim said that even after management had answered KPMG’s queries, the firm declined to continue its audit.

“Among the issues raised to the board were ‘trivial’ audit issues which our management responded to,” he said.

These issues included the inability to verify documents because auditors went to the wrong address and a receptionist’s failure to confirm a staff member’s existence.

Karim said large companies had thousands of staff and receptionists may not know everyone in the organisation. Subsequent checks by Serba Dinamik confirmed the details of the staff member.

“In other instances, the auditors used the social media app truecaller to verify client contact, and made an issue out of the misuse of abbreviations like LLC versus L.L.C.”

Despite responding to these concerns, Karim said Serba Dinamik was still reported to the Securities Commission, which led to the suspension of its shares’ trading and a loss of RM3 billion in market capitalisation.

“This put the company, its institutional investors, normal shareholders and 7,000 staff members at risk,” he said.

Serba Dinamik’s dispute with KPMG has since gone to court. The company filed a lawsuit against KPMG on June 22, claiming that the auditor “negligently red-flagged some issues”. 
On June 24, Serba Dinamik announced that KPMG had resigned as its auditor. Ernst & Young Consulting Sdn Bhd (EY) has since been appointed as its special independent reviewer.

----------
Pro-establishment types would standby the words of an external auditor as proxy of authority and professionalism.
Earlier in the episode, authorities and groups closely linked to financial establishment sang the chorus that it is sacriligeous to sue auditors.
Those in the corporate sectors knows auditor can be no angel. As part of a group of company involved in other financial and consulting services, they used the audit access to cross sell and even the use subtle blackmail. 
Auditor kow tow to the big accounts and could close one eye to indiscretion. They are only human with mortal fallacies. Stories of auditor's abuse and collusion is abound globally. Remember Enron?
As far as Serba, lets see what EY has in store. It is a test on an auditor to be truthful and fair even at the detriment of another auditor. 
And, legal victory may not necessarily mean absolutely innocent or absolutely guilty.


Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

http://anotherbrickinwall.blogspot.com/2021/08/serba-finally-reply-rm45-billion.html

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
Serba Dinamik Vs Kpmg Losing The Battle To Win The War

Serba Dinamik Vs Kpmg Losing The Battle To Win The War

papar berkaitan - pada 30/7/2021 - jumlah : 245 hits
Read Kuala Lumpur 29 Jul The last time I wrote about the Serba Dinamik KPMG saga was exactly a month ago In that posting I quoted a notorious accountant whose identity is known only to me I think it s time for corporations to fight back For...
Three Important Trends Shaping The Automobile Ecosystem In 2021

Three Important Trends Shaping The Automobile Ecosystem In 2021

papar berkaitan - pada 28/7/2021 - jumlah : 192 hits
Automoblog was on MarketScale TV to discuss some of the significant changes happening in the automotive and transportation industries in 2021 MarketScale TV host Daniel Litwin talks with our Managing Editor Carl Anthony about rental car sho...
Y O U Beauty Just Launched One Of The Longest Lasting Eyeliner That Will Amaze You

Y O U Beauty Just Launched One Of The Longest Lasting Eyeliner That Will Amaze You

papar berkaitan - pada 28/7/2021 - jumlah : 317 hits
Y O U BEAUTY JUST LAUNCHED ONE OF THE LONGEST LASTING EYELINER THAT WILL AMAZE YOU Kuala Lumpur 27 July 2021 Global beauty brand Y O U Beauty is on fire with the launch of Stay All Day Pen Eyeliner just like its name this eyeliner can indee...
The Most Wonderful Salons That You Ll Ever See

The Most Wonderful Salons That You Ll Ever See

papar berkaitan - pada 27/7/2021 - jumlah : 297 hits
1 A FRENCH STYLE LIVING ROOM If something stands out in this room it is its impressive chandelier which even when turned off is the strongest piece in the room Afterwards the beige tones bring the warmth The post appeared first on
Hospital Playlist 2 No 1 Untuk Minggu Kelima Berturut Turut Bintang The Devil Judge Kuasai Ranking Pelakon

Hospital Playlist 2 No 1 Untuk Minggu Kelima Berturut Turut Bintang The Devil Judge Kuasai Ranking Pelakon

papar berkaitan - pada 28/7/2021 - jumlah : 297 hits
Drama tvN Hospital Playlist 2 terus menguasai kedudukan pertama dalam senarai mingguan drama paling popular Menurut Good Data Corporation Hospital Playlist 2 mengekalkan penguasaannya untuk minggu kelima berturut turut Dua bintangnya berada...
Wat Is The Beekos

Wat Is The Beekos

papar berkaitan - pada 27/7/2021 - jumlah : 245 hits
Malaysia ni PALING Aman sebab rakyat nya bodoh sombong Parti Tak cukup kerusi masih jadi kerajaan Mengaku ada nombor MASIH jadi PM menanti Mwnteri makan Gaji buta Pembangkang MASIH kekal di longkang bangga kekal jadi Ketua Pembangkang Yang ...
Bernard Arnault The World S Richest Person

Bernard Arnault The World S Richest Person

papar berkaitan - pada 28/7/2021 - jumlah : 213 hits
France s Bernard Arnault Becomes the World s Richest Person The Briefing French billionaire Bernard Arnault became the world s richest person with a net worth surpassing 186B Arnault whose fortunes are largely tied to luxury conglomerate LV...
Anwar Slams Hypocritical Criticism Over His Response To Najib S Apology

A Sucker Punch For Rm1 000 What S The Value Of Dignity In Malaysia

Makan Malam Tiga Beranak Di Adam Kitchen

Rakyat Malaysia Jadi Tentera Upahan Di Ukraine Dipercayai Masih Hidup Kpn

Tan Sri Vincent Tan Dan U Mobile

Empat Sekawan Dipenjara Tiga Tahun Culik Budak Perempuan

Pengalaman Anak Kena Prolonged Jaundice

Sabah Air Belum Mohon Lesen Perkhidmatan Udara Kata Menteri Pengangkutan


echo '';
Biodata Terkini Penyanyi Illa Sabry Peserta Gegar Vaganza 2024 Musim 11 GV11

Info Dan Sinopsis Drama Berepisod Senyawa iQIYI Malaysia

Info Dan Sinopsis Drama Berepisod Project Projek Exit Astro Originals

Pelajari Asal Usul Nama Makhluk Seram Kisah Fiksyen Barat Yang Terkenal

10 Fakta Filem Kahar Kapla High Council Yang Ramai Tak Tahu Prekuel Drama Project Projek High Council


Tv Samsung Rosak Tamat Tempoh Hayat

30 Lagu Bakal Berentap Dalam Muzik Muzik 39 Separuh Akhir Siapa Akan Mara Ke Ajl 39

Celebrity Legs And Feet In Tights Variety Pack 143

Cucur Sayur

Kedah Jheaik Siasat Tok Kadi Buli Pengantin

Seorang Wanita Tergamak Penggal Kepala 2 Anak