22/07/2020
Qualifying Criteria for Audit Exemption for Certain Categories of Private Companies
Some private limited companies in Malaysia might qualify to be exempted to have their accounts audited, subject to the guideline released by SSM (Suruhanjaya Syarikat Malaysia).
Issued pursuant to Section 20C of the Companies Commission of Malaysia Act 2001 and Subsection 267(2) of the Companies Act 2016 (“CA 2016”), The Practice Directive No. 3/2017 indicates that the following companies are eligible for audit exemption.
(a) Dormant companies
(b) Zero-revenue companies
(c) Threshold-qualified companies
We provide services to prepare the unaudited financial statements that will be consists of Director’s Report and Statement, Detailed Profit and Loss Statement, Detailed Balance Sheet and Notes to Financial Statement. These statements will be submitted to SSM as under the audit exemption.
Further assistance and consultation, please directly contact us at +60 19-2144100