These are mandatory audits for companies incorporated under the Companies Act 2016. Generally, all companies are required to circulate their financial statements to shareholders within 6 months from their financial year end and file their audited financial statements with the Companies Commission of Malaysia within thirty days thereafter.
Companies which are listed on Bursa Malaysia have additional requirements to file their audited financial statements and annual reports with the Companies Commission of Malaysia and Bursa Malaysia within 4 months of their financial year end.
Some exemptions from audit are provided under the Companies Act 2016 for private companies such as dormant companies, companies without revenue, or companies with a size below a certain threshold, measured by revenue, total assets or number of employees. However, such companies may choose to audit their financial statements for other purposes such as for obtaining banking facilities, tax filing or future expansion when audited financial statements are required.
Crowe Malaysia is uniquely positioned to assist clients to comply with these audit requirements. With 13 offices throughout Malaysia, and our position as the 5th largest accounting firm with more than 1,200 employees, we have the resources, industry knowledge and experience to conduct audits of companies in different industries with multiple business locations, and of different sizes and complexity.