Malaysia Hotline: +603- 2141 8908
Company Statutory Audit
Every sdn bhd company is required by the Companies
Act 1965 to appoint an approved auditor for their companies.
Whether active or not, large or small, all
companies must have its accounts audited by the auditors every year before the
Annual General Meeting (AGM). The shareholders shall then adopt and approve the
audited accounts (audited financial statements) during the AGM.
All enterprises (sole proprietors) or partnership
are NOT required by Business Registration Act to appoint auditors to audit
their accounts.
Approved Auditors in
Malaysia
An approved auditor in Malaysia is a member of
Malaysian Institute of Accountants (MIA) and he must be approved by the
Ministry of Finance to practice as auditors in Malaysia.
The Ministry will grant an audit license for
approved auditors in Malaysia for a period of two (2) years and the audit
license is renewable.
How Auditors work
The auditors shall conduct their audit in
accordance with approved standards on auditing in Malaysia. Those standards
require that the auditors comply with ethical requirements and plan and perform
the audit to obtain reasonable assurance whether the financial statements are
free from material misstatement.
An audit involves performing procedures to obtain
audit evidence about the amounts and disclosures in the financial statements.
The procedures selected depend on the auditors’
judgment, including the assessment of risks of material misstatement of the
financial statements, whether due to fraud or error.
In making those risk assessments, the auditors
consider internal control relevant to the Company’s preparation and fair
presentation of the financial statements in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the Company’s internal control.
An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of
accounting estimates made by the directors, as well as evaluating the overall
presentation of the financial statements.
Contact us
If you have further queries, please contact Tannet
24 hours Malaysia hotline：603-21418908;
24 hours Hong Kong hotline：852-27837818;
24 hours Hong Kong hotline：86-755- 36990589;
Email: mytannet@gmail.com
TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my