KUALA LUMPUR: Ernst & Young Consulting Sdn Bhd disagreed with Serba Dinamik Holdings Bhd's decision to take legal action against the company and it also categorically stated "we undertook our duties professionally".

       In a statement on Thursday, EY Consulting said it was appointed by the board of directors of Serba Dinamik to undertake a special independent review, under the directive of Bursa Malaysia.

       StarBiz reported on Thursday Serba Dinamik filed an originating summons against EY Consulting, which was appointed in July to undertake a “special independent review”, at the High Court of Kuala Lumpur.

       On the originating summons, EY Consulting pointed out: "We disagree with the position taken by Serba Dinamik. We undertook our duties professionally and stand by all our actions to date."

       Oil and gas services firm Serba Dinamik is seeking an interim injunctive relief against EY Consulting to restrain the latter from revealing any “findings, report, memorandum and opinion” about the group to anyone.

       EY Consulting’s appointment was made after Serba Dinamik’s previous auditor, KPMG, highlighted questionable transactions worth some RM4.54bil.

       In retaliation, the company had sued KPMG for alleged negligence and breach of duties.

       Serba Dinamik now contends that EY Consulting is not an auditor as defined in the Main Market Listing Requirements or the Companies Act 2016.

       It also added that EY Consulting is not registered with the Audit Oversight Board.

       “EY Consulting’s affiliate is the auditor of Bursa Malaysia and hence lacked independence.

       “EY Consulting had acted contrary to its undertakings in the letter of engagement when it provided a ‘Factual Finding Update’ to the Securities Commission without seeking Serba Dinamik’s consent," Serba Dinamik said. In addition, it is seeking damages against EY Consulting.