Audit
In Malaysia, statutory audits are mandated by the Companies Act 2016 for most private limited companies (Sdn. Bhd.). Annual audits help businesses maintain transparency, meet regulatory obligations, and build investor or stakeholder confidence.
Whether you’re a local entrepreneur or a foreign investor, proper auditing is not just about compliance, it's about understanding your company’s financial health and reducing business risks.
Who Needs an Audit in Malaysia?
✔️ Mandatory Audit
All companies incorporated under the Companies Act are required to appoint a licensed auditor, unless they qualify for audit exemption under criteria set by the Companies Commission of Malaysia (SSM).
✔️ Audit Exemption (SMEs)
As of 2025, companies may be exempted if they meet at least 2 out of 3 criteria:
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Annual revenue less than RM1 million
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Total assets not exceeding RM1 million
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Not more than 10 employees
Foreign-owned companies are not exempt from audit even if dormant, unless specific exemption applies.
Our Services
When Do You Need to File Audited Accounts?
Description | Timeline |
|---|---|
Submission to SSM | Within 30 days after AGM |
Audit completion | 6–9 months after financial year-end |
Auditor appointment | Within 30 days of incorporation or AGM |
Financial year-end | Choose your closing month (e.g., 31 Dec) |
*Delays may result in SSM penalties or legal consequences.
Audit Requirements for Foreigners
Foreign individuals and corporations who incorporate a company in Malaysia (e.g., a 100% foreign-owned Sdn. Bhd.) often have limited presence in the country but are still legally obligated to comply with local audit laws.
Key Points for Foreign Owners
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Audit is mandatory for most foreign-owned entities, even if:
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The company is dormant
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It has zero revenue or staff in Malaysia
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The business operates entirely outside Malaysia
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Audit exemptions are rarely available unless specific criteria are met
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Failure to file audited accounts may lead to:
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SSM penalties
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Freezing of corporate bank accounts
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Strikes off / enforcement actions
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How We Help You
Audit-Ready Accounting
We’ll manage your monthly/yearly bookkeeping using data from bank statements, invoices, e-commerce platforms
Remote Audit Handling
We offer a 100% remote audit process for foreign owners. No travel needed. You’ll be guided via email or Zoom, with digital signature options for reports.
Multi-Currency & International Transactions
We’re experienced with businesses that operate with USD, SGD, EUR, CNY, and crypto. We assist in converting and classifying transactions in accordance with Malaysian Financial Reporting Standards (MFRS/MPERS).
Comprehensive Documentation
We provide:
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Financial statements
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Directors' report
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Management letters
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AGM preparation for SSM submission
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What services does your company offer in Malaysia?We provide a comprehensive range of corporate secretarial services to help businesses meet all statutory and regulatory requirements. Our offerings include company incorporation, annual compliance filings, updating company records, managing board resolutions, and advisory on compliance with Malaysian laws. In addition, we assist with accounting and bookkeeping, tax filings, payroll services, and obtaining employment passes for foreign employees to ensure your business operates smoothly across all essential areas.
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Is it mandatory to have a company secretary in Malaysia?Yes, under the Malaysian Companies Act 2016, every company must appoint a qualified company secretary within 30 days of incorporation. The company secretary must be a licensed professional registered with the Companies Commission of Malaysia (SSM).
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Who can be a Company Secretary?In Malaysia, a Company Secretary must be a qualified individual who is either a member of a recognized professional body, such as the Malaysian Association of Company Secretaries (MACS), the Malaysian Institute of Chartered Secretaries and Administrators (MAICSA), the Institute of Chartered Secretaries and Administrators (ICSA), the Malaysian Institute of Accountants (MIA), or CPA Malaysia, or holds a license issued by the Companies Commission of Malaysia (SSM).
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Why should you outsource your Company Secretary services in Malaysia?Time & Resource Savings: Ensures that statutory and regulatory requirements are met by experienced professionals, freeing up valuable resources. Risk Reduction: Minimizes compliance risks and helps to avoid potential penalties. Administrative Efficiency: Manages complex administrative tasks, allowing business owners and directors to focus on growing the business. Access to Expertise: Provides access to a broad range of expertise, including legal and financial compliance. Enhanced Company Management: Supports efficient and compliant management of the company.
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What are the annual compliance requirements for a company in Malaysia?Malaysian companies must hold an Annual General Meeting (AGM), submit annual returns to SSM, and file audited financial statements. We assist with all annual compliance to ensure you meet your regulatory obligations.
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Can you assist with setting up a business bank account in Malaysia?Yes, we offer assistance with business bank account setup by providing necessary company documents, and we can guide you through the requirements of various banks.
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How much does it cost to hire a corporate secretary?The cost varies depending on the services you need. We offer competitive pricing with transparent fees for incorporation, annual filings, and additional services. Contact us for a customized quote based on your business needs.
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What happens if I don’t meet my compliance requirements?Failure to meet compliance requirements can result in penalties, fines, or, in severe cases, deregistration of your company. Our team ensures that your filings and other obligations are managed to avoid any compliance issues.
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How do I get started with your services?Getting started is easy! Simply contact us through our website or give us a call, and one of our corporate secretarial experts will guide you through the onboarding process.