KUALA LUMPUR: Serba Dinamik Holdings Bhd has nominated Nexia SSY PLT to be its new external auditor.
The position is vacant following the resignation of KPMG.
Nexia SSY will audit Serba Dinamik's financial accounts for the year ended June 30 2021.
This was subject to among others, professional clearance from KPMG in accordance to Section 320 By-Law of the Malaysian Institute of Accountants, said Serba Dinamik in a statement today.
Serba Dinamik chairman Datuk Mohamed Ilyas said the board of directors, including the audit and risk committee of Serba Dinamik is committed to ensuring the nomination is based on the objectivity and independence as well as the sound performance of the external auditor.
He said Nexia's appointment was based on the criteria set by the board which was in line with legislative promulgations such as Companies Act 2016, Capital Markets and Services Act 2007 (Amendment 2012) and Listing Requirements.
It is also taking into account the Malaysian Code on Corporate Governance (MCCG), and the By-Laws (on Professional Ethics, Conduct and Practice) by the Malaysian Institute of Accountants (MIA).
Nexia SSY is an independent member firm of Nexia International, a leading global network of independent accounting and consulting firms.
Nexia is currently ranked the eighth largest accounting firm in the world by the International Accounting Bulletin Survey 2021 and with operations in more than 128 countries.
"By leveraging on Nexia SSY's extensive experience and expertise, the group is confident that Serba Dinamik will continue to maintain its high corporate governance standards while simultaneously increasing its operational efficiency," Ilyas said.
Serba Dinamik said Nexia SSY was the established sole member firm in Malaysia with a strong presence in the Asia Pacific region.
Other than audit and assurance, Nexia SSY also provides services such as business taxation, special advisory services as well as personal tax and wealth management.
KPMG had resigned as Serba Dinamik's external auditor after reportedly flagging what it alleged to be more than RM4.54 billion in questionable transactions.
Serba Dinamik had then sought legal redress against KPMG.