Requirements in relation to bonus issue
In circumstances where the reserves for
capitalization are based on the latest unaudited financial statements and such
reserves must be verified and confirmed by the external auditors or reporting
accountants, what is the required scope of the such audit verification or confirmation?
The audit verification or confirmation must be made in accordance with
the approved auditing standards applied in Malaysia for review of interim financial statements.
In relation to a foreign issuer with primary listing on Bursa
Securities, the audit verification or confirmation may also be made in
accordance with the International Standards on Auditing.