The Council of the Malaysian Institute of Accountants hereby gives notice that on 6 January 2014, after due inquiry by the Disciplinary Committee of the Institute, Timothy Oliver Sylvester (Mem. No.: 7222) was found to have committed an act amounting to ‘unprofessional conduct’ within the meaning as provided under Rule 2 of the Malaysian Institute of Accountants (Disciplinary) Rules 2002 [P. U. (A) 229/2002] [“the MIA (Disciplinary) Rules”]. The decision of the Disciplinary Committee was based on the evidence adduced by the Investigation Committee before the Disciplinary Committee that he had failed to adhere to the Institute’s By-Laws (On Professional Ethics, Conduct and Practice) by failing to purchase a policy of Professional Indemnity Insurance (PII).
The Disciplinary Committee in exercise of its powers under Rule 18(3) of the MIA (Disciplinary) Rules has ordered the member:
• to pay a fine of RM1,500-00; and
• to pay the Institute the sum of RM2,500-00 in respect of costs and expenses of and incidental to the disciplinary hearing before the Disciplinary Committee and the investigation conducted by the Investigation Committee. The decision of the Disciplinary Committee is effective from 11 February 2014.
SUDIRMAN BIN MASDUKI
On behalf of the Council of the Malaysian Institute of Accountants