UPDATES - SC Names Dato’ Anantham Kasinather as Chairman on Audit Oversight Board

The Securities Commission Malaysia announced that it has named Dato’ Anantham Kasinather as its new Chairman of the Audit Oversight Board effective from the beginning of December 2020.

Announced in a press release on Monday, Kasinather, who has served as a member of the Audit Oversight Board since January 2020, has been promoted by the Securities Commission, to the position of Chairman and will replace Dato’ Gumuri Hussain, who retired just last week.

In excess of forty years of experience in the private sector, Kasinather brings extensive legal knowledge and experience to the role. Currently, he is a consultant for Sree Harry & Co and has been for quite a few years.

Prior to the announcement, he held a Judicial post in the Court of Appeal from 2010 to 2014. Here he was promoted from his previous role as a Malaysian High Court Judge in 2009.

His earliest position was at Skrine and Co where he practised commercial law. His success served him well as it led to judicial roles in which he excelled.

The Securities Commission Welcomes Kasinather as Hussain Exits

Kasinather will draw on his background and experience to strengthen the Audit Oversight Board’s effectiveness. Further, his addition to the board will promote confidence in the quality of audited financial statements in Malaysia.

Commenting on the announcement, the Securities Commission said: “His background and experience will further strengthen the effectiveness of the AOB’s oversight role and promote confidence in the quality of audited financial statements in Malaysia.”

However, this news comes at a time of change where the commission has said goodbye to Hussain. In fact, the Malaysian watchdog stated that it wishes to express its heartfelt appreciation to ‘Dato’ Gumuri Hussain’ for his leadership and contribution to the Audit Oversight Board.

Furthermore, the commission has announced another appointment to the Audit Oversight Board as Dato’ Seri Ahmad Johan Mohammad Raslan will also join its ranks, effective 1 December 2020. Previously, he had served as the Executive Chairman of PwC Malaysia. He is qualified as a Chartered Accountant specialising in the fields of assurance and advisory and is currently a board member of the Institute of Corporate Directors Malaysia.