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 a 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 that 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, in order to maximize efficiency. For us, audit is more than just a statutory requirement. Our audit is like a health check for your business.
At YH Tan, we are dedicated to offer audit and assurance services to ensure that all the regulatory requirements are satisfied while assisting our clients to implement efficient and timely business controls.
Our experienced accountants consider these services to be more than just regulatory compliance and will go beyond that in providing professional and helpful advice that will help you control your business and realize your business objectives.
Our Audit and Assurance Services
We provide the following services for audit and assurance.
- Statutory audits
- Offshore audits
- Special purpose audits
- Compilation of financial statements
- Internal audit and assurance
- Financial Due Diligences
- Forensic accounting
- Independent management reporting
- Government and cooperative audits
- Reporting on Key Performance Indicators
- Other non-statutory audits, etc
Statutory audit is an official and legit requirement for all private limited businesses and public companies under the Companies Act 1965. 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 the businesses and companies to make their financial statements in compliance with the law and as per the approved accounting standards. Statutory audit includes the inspection of the organization’s accounts and financial statements to ensure they are valid to avoid any kind of discrepancies and misrepresentations.
As your statutory auditors, we will check your documents to make sure that they are accurate and according to the defined guidelines. If we found any errors, discrepancies or misrepresentations, our professional auditors will assist you to resolve 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.
You may suspect fraud or you may just need an evaluation for your business and related assets. In all of these scenarios, our forensic accounting experts can assist you achieve your desired goals.
Our forensic team will detect and solve problems rapidly while minimizing the potential damage of 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.
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 are experts to perform not only general audits but also cooperative audits.