Accountant denies role in firm's alleged RM2.5 million tax evasion scheme

Chew Ai Keow, an accountant, has denied accusations that she helped Penshrimp Fishery Sdn Bhd evade approximately RM2.5 million in taxes through fraudulent accounting practices. The trial centres on allegations that Chew checked and approved the company's sales ledgers while deliberately omitting a substantial RM10.67 million transaction from the records submitted to tax authorities.

The charges suggest that the deliberate underreporting of sales significantly reduced the company's declared revenue, thereby lowering its tax obligations to the government. Investigators allege that Chew's professional involvement in certifying the falsified financial documents made her complicit in the tax evasion scheme.

The case raises concerns about internal controls within accounting firms and the responsibilities of finance professionals in detecting and preventing fraudulent reporting. Authorities have not disclosed additional details about how the discrepancy was discovered or whether other individuals or entities face related charges.

Chew's trial proceedings are expected to examine documentary evidence, including the original transaction records and the approved ledgers, to establish whether the omission was intentional or resulted from administrative error. The outcome of the case may have implications for professional accountability standards within Malaysia's accounting sector.