Financial auditing is the process of examining an organization's financial records to determine if they are accurate and in accordance with any applicable rules regulations, and laws.
Dependable, efficient auditing
We use our experience and knowledge to develop credible approaches for all our clients. Couple this with an intimate understanding of your business, we can ensure that our audit and assurance services are tailored not just to meet with International Standards on Auditing, but to focus on matters which are of relevance and added value to your business.
By assigning the most suitable member of our team to your business, we can ensure that you receive practical advice relevant to your business. We pledge continuity at senior staff level so that the knowledge of your business gets passed on. Uniquely, our audit team members are also all trained on tax matters such that material tax related issues are also highlighted.
Is the statutory audit compulsory?
All Sdn Bhd companies in Malaysia are required to be audited annually by a qualified and approved auditor, failing which the company and its directors will be at risk of facing high penalties from SSM. A statutory audit reviews the accuracy of the company's financial records, in order to determine if the company has provided fair and accurate reports of its financial position. Our associate auditors thoroughly go through the company's bank balances, bookkeeping records and financial transactions and produce the company's audit report for submission to SSM within the required deadlines.
How much will the audit fees cost?
There is no fixed answer, the audit fees will depend on a combination of several factors such as your company's turnover, number of transactions, complexity and backlog, to name a few. However, the Malaysian Institute of Accountants (MIA) has published a recommended Practice Guide (RPG) 7 which provides a guideline of charges for practicing auditors to reference. This not only helps protect the professionalism of Malaysia' auditors, but also helps them manage and cope with Malaysia's tightened regulations.