28 Nov 2025
XXXX 1. ) ERNST & YOUNG 2. ) XXXX 3. ) SJ ASSET MANAGEMENT SDN BHD
- Citation
- 22NCC-431-03/2012 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- 22NCC-431-03/2012 (Mahkamah Tinggi)
Auditor (EY) owed no duty of care to SJAM’s investors either at common law or by statute because no assumption of responsibility or actual reliance was established, the statutory audit engagements were addressed to SJAM’s members and limited by engagement terms, the Australian 'vulnerability' concept is not adopted in Malaysia, the plaintiffs failed to prove breach of MASA (Plaintiffs' expert discredited and EY’s expert supported compliance), causation failed because majority of loss predated EY’s appointment and fraud was a deliberate novus actus, and plaintiffs failed to prove quantum of da…