Serba Dinamik Holdings Bhd has been embroiled in an audit dispute with KPMG, after the external auditor had red-flagged discrepancies involving transactions worth RM3.5 billion.
In a Bursa Malaysia announcement, the company said they received a notice from the auditor yesterday, pursuant to Section 281 of the Companies Act. It said it will be looking for new auditors to replace KPMG pursuant to Section 271 of the Companies Act. The company had two days ago filed a lawsuit against KPMG, claiming that the auditor “negligently red-flagged some issues”.
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