Frequently Asked Question (FAQ)

A forensic audit is a specialized examination of financial records to detect, investigate, and prevent fraud, embezzlement, or other financial misconduct. Unlike standard audits that focus on verifyin...

A financial audit is an independent examination of a company’s financial statements and related operations to ensure they are accurate, complete, and in accordance with applicable accounting standards...

Non-Governmental Organizations (NGOs) and charities in Malaysia are subject to unique audit requirements due to their funding structures and public accountability. Although these entities may not oper...

The Inland Revenue Board (LHDN) conducts tax audits to ensure that individuals and businesses comply with the Income Tax Act 1967. A tax audit examines a taxpayer’s records and financial documents to ...

Internal controls are systems, policies, and procedures designed to ensure the accuracy and reliability of financial reporting, safeguard assets, and promote operational efficiency. These controls pla...

In Malaysia, only licensed auditors approved under the Companies Act 2016 can perform statutory audits. These professionals must hold a valid audit license issued by the Ministry of Finance and be reg...

Failing to submit audited financial statements in Malaysia is a serious offense under the Companies Act 2016. All companies (except exempt private companies that meet specific criteria) are legally re...

The Companies Act 2016 governs the audit requirements for businesses incorporated in Malaysia. Under this law, most companies are required to prepare and submit audited financial statements annually. ...

In Malaysia, companies are generally required to undergo an annual statutory audit. This requirement is outlined in the Companies Act 2016, which mandates that most companies must submit audited finan...

The Inland Revenue Board of Malaysia (LHDN) plays a crucial role in enforcing tax compliance across Malaysian businesses. While LHDN does not conduct financial statement audits like statutory auditors...