What type of companies in Malaysia need to undergo audits?

In Malaysia, certain companies are required by law to undergo an audit, as stipulated by the Companies Act 2016 and other relevant regulations. These include: Private companies (Sdn. Bhd.); Public companies (Berhad); Other entities i.e. certain statutory bodies, financial institutions, and non-profit organisations.

Can a company be exempted from undergoing an audit in Malaysia?

Yes. A company can be exempted from undergoing an audit in Malaysia if it falls under these 3 categories: Dormant Companies, Zero-Revenue Companies, and Threshold-Qualified Companies. Based on SSM Practice Directive 10/2024, a new framework applies to financial statements commencing on or after 1 January 2025 where private companies meeting at least two of the specified revenue, assets, and employee thresholds are eligible to adopt the audit exemption framework.

Why should you choose KS Chia & Associates as your audit firm in KL, Malaysia?

At KS Chia & Associates, we are a trusted and professional audit firm in Malaysia. Businesses choose us because we are a registered MIA member firm and approved auditor, have an experienced team, are committed to compliance, possess industry-specific expertise for SMEs, and provide client-focused, customized solutions.

How much do your auditing services cost?

Our audit fees start from RM1,000 for a dormant company. For active businesses, the fees are customized based on the scope of the audit, volume of transactions, business complexity, and company size and industry. Contact us for a precise quote.

What are the benefits of hiring an external auditor in Malaysia?

Hiring an external auditor ensures compliance with regulatory requirements, aids in fraud detection and risk management, maintains financial accuracy and discipline, enhances credibility with stakeholders, improves decision-making, facilitates access to financing, and provides professional insights.

SSM Practice Directive 10/2024 Tag

24 Sep Audit Exemption Malaysia 2025–2027: Your Company Qualifies. Your Bank Might Not Agree.

Posted at 08:00h in Audit, Blog, Tax Updates

Your company may qualify for audit exemption under SSM Practice Directive 10/2024. Your bank has its own test, and it is not bound by SSM's rules....

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