Auditing and Assurance Services in Malaysia

Auditing and assurance services in Malaysia are one of the most demanded services by small and medium-sized businesses. But still, most companies often neglect this. Assurance services are vital to increase credibility and build reputation. Organizations that successfully address audit and assurance issues enhance their quality of financial reporting and stand to gain credibility not only locally but also at the international level.

An audit must be processed thoroughly and be taken as a matter of importance and not like basic compliance. We believe we surpass the expected benchmarks of an audit with innovation, a business mindset, and a personalized touch.

Our audit, assurance, and compliance services are one of the most important services we offer, which are made ideally for local businesses to maximize efficiency. For us, an audit is more than just a statutory requirement. Our audit is like a health check for your business. You can check out our blog post on the difference between audit and assurance services if you are confused about auditing and assurance services.

At YH Tan & Associates PLT, we are dedicated to offering audit and assurance services to ensure that all the regulatory requirements are satisfied while assisting our clients in implementing efficient and timely business controls.

Our experienced accountants consider these services to be more than just regulatory compliance. They will go beyond that in providing professional advice to help you control your business and realize your business objectives.

We provide the following services for audit and assurance.

• Statutory audits
• Internal audit and assurance
• Forensic accounting
• Financial due diligence
• Government and cooperative audits
• Offshore audits
• Special purpose audits
• Compilation of financial statements
• Independent management reporting
• Audit advisory
• Reporting on key performance indicators
• Other non-statutory audits, etc

Statutory Audits

Statutory audit is an official and legit requirement for all private limited businesses and public companies under the Companies Act 2016. A limited liability company in Malaysia will have to hire an external editor to audit its financial statements and to report to its members or shareholders every year. 

Hence, it’s important for businesses and companies to make their financial statements in compliance with the law and as per the approved accounting standards. Statutory audit includes inspecting the organization’s accounts and financial statements to ensure they are valid to avoid any discrepancies and misrepresentations.

As your statutory auditors, we will check your documents to ensure they are accurate and according to the defined guidelines. If we find any errors, discrepancies, or misrepresentations, our professional auditors will assist you in resolving them.

 

Internal Audit and Assurance

Internal audit not only establishes compliance measurement but also includes providing important information on better execution of roles and responsibilities to the senior management and Board of Directors. 

Simply, internal auditors are crucial to a company to determine and evaluate the company’s efficiency and protect the organization against risk. So if you need a helping hand regarding internal audit and assurance, we are already providing the best internal audit and assurance services in Malaysia. 

 

Forensic Accounting

You may suspect fraud, or you may need an evaluation of your business and related assets. In all of these scenarios, our forensic accounting experts can assist you to achieve your desired goals.

Our forensic team will detect and solve problems rapidly while minimizing the potential damage to your company and securing the evidence required to get a conviction. Our forensic experts are highly professional in auditing, drawing on accounting, testimony in court, taxation and financial expertise, etc.

Financial Due Diligence

When a company is up for sale or selling a part of itself, financial due diligence provides a detailed look into its financial health for potential buyers. This thorough check ensures the consistency of company accounts, giving a clear view of assets, liabilities, and any hidden tax risks. As investments, mergers, and acquisitions offer promising returns, it’s vital to spot any major risks before finalizing the deal.

With our expertise, we can streamline this assessment, offering in-depth financial due diligence to highlight value drivers, refine deal structures, and guard against potential pitfalls, helping you make informed decisions.

Government and Cooperative Audits

Government or cooperative audits demand special licensing by the Ministry of Finance Malaysia. These kinds of audits also require special skills due to the unique audit deliverables and needs. 

In other words, an auditor’s role is to ensure no funny business is happening. Because the government wants to make sure cooperative bodies have fair reporting standards. As well as most cooperatives are required to conduct an annual audit.

YH Tan & Associates PLT are experts in performing not only general audits but also cooperative auditing and assurance services in Malaysia.

*YH Tan & Associates PLT Only provides auditing and business advisory services independently. Other services are provided by independent associates other than YH Tan & Associates PLT. The above content is for information only.

Managing Partner

Member of Chartered Accountant and founder of YH Tan & Associates Plt. Financial service professional with over 18 years of combined experience in the audit and accounting fields in diverse industries. Yoon Huat is the winner of the Chartered Accountants Australia and New Zealand Young Regional Advocates awards for 2020. He holds an MBA from Manchester Business School, qualified Chartered Accountant of CA ANZ and member of MIA (Malaysian Institute of Accountants).