to lure investing public; for instance, soliciting general public to invest in shares, gold or crude oil. They usually offer unreasonably high returns and principal guarantee as well as quote foreign
. In a number of cases, the clients authorized the investment consultants to make trading decisions on their behalf. Usually, those clients did not have enough time or viewed that the investment
properly licensed. Nowadays, deceitful tricks are increasing in number and variety. For example, illegal solicitors usually claim that they could offer fixed returns worth more than those generated from
, regulations, notifications, orders, or directions that are generally applicable shall come into force upon publication in the Government Gazette.
any liabilities, its financial statements were not in compliance with the generally accepted accounting standards. The SEC thus instructed JAS to rectify those financial statements by recognizing the
through the ORAP system, which has recently been updated. The extended submission period will take effect, starting from the 2024 renewal cycle onwards. Generally, the SEC reviews each application
late 2018. Most stakeholders from the business sector and the mutual fund industry generally submitted positive responses supporting the principles. The amendments drafted under the principle-based
reliably estimate the additional liabilities.As JAS has not recognized any liabilities, its financial statements were not in compliance with the generally accepted accounting standards. The SEC thus
were not in compliance with the generally accepted accounting standards. Besides, the auditor did not satisfy with supporting evidence with regard to the audit of inventory balance as at December 31