While Malaysian law mandates that most companies incorporated in Malaysia must have their accounts audited by an auditor approved by the Ministry of Finance, there are certain exemptions available for specific types of companies that meet defined criteria. This requirement underscores the Malaysian government’s emphasis on financial transparency and accountability in business operations.
We are dedicated to assisting our clients in ensuring that their businesses satisfy the statutory requirements of the Companies Act 2016 and are in compliance with the approved standards on auditing in Malaysia and International Standards on Auditing.
Unlike others, we adopt specific strategic needs for different risks in each industry. Our audit services are not only tailored to achieve traditional objectives but also to make valuable contributions to our clients by enhancing their profitability and competitiveness.
Why Choose KS Chia & Associates for Your Audit Needs?
Our audit team comprises of experienced accountants and certified auditors in Malaysia who are accustomed to the high standards of auditing set by us, and who are trained to provide good quality assurance services.
With years of experience in audit field, our audit process is extremely efficient, hence we are able to provide you with a highly competitive price. The audit fee will always be agreed in advance.
As one of the audit firms in Malaysia, we are often in charge of managing the audit processes of parent companies. We also act as external auditors for their subsidiary companies and use our skills to make sure that the reporting requirements of the parent company are met.
We provide audits catered to the size and needs of our client’s business, always having their best interests in mind. This is why we are known as one of the most trusted auditors in Malaysia.
Apart from the statutory audits, we also expanded to include the following:
Preparation of financial statements in compliance with applicable approved accounting standards.
Financial due diligence review.
Regulatory and compliance reporting.
Special purpose assignments which include special audits, reviews, agreed upon procedures and compilations.
Our team can assist you whether you need a comprehensive compliance audit, an in-depth financial review, or a meticulous forensic audit. Call +603 6258 3692 today, and let our certified auditors in Malaysia help you ensure accuracy, compliance, and operational efficiency.
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What is the Importance of Audit Services?
Audit services are professional services that involves the examination of a company’s financial statements and records to ensure accuracy, reliability, and adherence to accounting standards and legal requirements. Audit services are critical for businesses and organisations’ financial and operational health.
Enhancing Credibility
Verifies the accuracy of a company’s financial statements, enhancing the credibility of the information presented to investors, creditors, and other stakeholders.
Regulatory Compliance
Ensure that entities comply with relevant accounting standards and legal requirements to avoid potential fines and legal penalties.
Improving Financial Management
Auditors’ insights can highlight weaknesses in financial management and internal controls and offer recommendations for improvement.
Facilitating Decision Making
Accurate and reliable financial information allow stakeholders to make informed decisions regarding investments, lending, and strategic direction.
Supporting Business Valuation
Audited financial statements are crucial for accurately valuing businesses in mergers, acquisitions, or sales transactions.
What are the Different Types of Audit Services in Malaysia?
Understanding the different types of audit services and the purposes they serve to each sector would help businesses to meet legal standards, improve financial transparency, and build stakeholder trust.
Statutory Audit
A legally mandated examination to ensure a company’s financial statements accurately reflect its financial status.
Compliance Audit
Verifying a company’s adherence to legal and regulatory requirements, and compliance across various laws including tax, environmental, etc.
Financial Audit
An independent review to confirm the company complies with accounting standards, assuring stakeholders about the company’s financial health.
Internal Audit
An evaluation of the company’s internal controls, governance, and risk management processes, conducted by the company’s own internal audit team.
External Audit
Performed by independent auditors, this audit reviews a company’s financial records for accuracy and compliance with accounting standards.
Forensic Audit
Investigates financial discrepancies and fraud, applying accounting techniques to uncover illegal activities or financial misrepresentations.
Operational Audit
Reviews an organisation’s operations for efficiency and effectiveness, aiming to improve processes and performance across various departments.
Information System Audit
Assesses the adequacy and effectiveness of a company’s information systems in managing and securing data.