s 85 Duty of auditor to trustee for debenture holders
(1) An auditor of a borrower shall, within seven days after furnishing the borrower with any balance sheet, profit and loss account or any report, certificate or other document which he is required by the Companies Act 1965 or by the debenture or trust deed to give to the borrower, send a copy of such balance sheet, profit and loss account, report, certificate or other document by post to every trustee for the holders of debentures of the borrower. (2) Where, in the performance of his duties as auditor of a borrower, the auditor becomes aware of any matter which, in his professional opinion, is relevant to the exercise and performance of the powers and duties imposed on the trustee— (a) by this Act; or (b) under the trust deed, the auditor shall, as soon as practicable after becoming aware of the matter, report the matter to the borrower and the trustee. (3) Where, in the performance of his duties as auditor for the borrower, the auditor becomes aware— (a) of any matter which, in his professional opinion, may constitute a contravention of any provision of this Act; or (b) of any irregularities that may have a material effect on the ability of the borrower to repay any amount under the debenture, the auditor shall immediately report the matter to the Commission. (4) The auditor shall not, in the absence of proof of malice on his part, be liable to any action for defamation at the suit of any person in respect of any statement made in the circumstances referred to in subsection (1), (2) or (3). (5) An auditor who— (a) contravenes subsection (1) or (2) shall be guilty of an offence and shall on conviction be liable to a fine not exceeding fifty thousand ringgit; (b) contravenes subsection (3) shall be guilty of an offence.