Services
Audit & Assurance
With almost thirty years of experience and knowledge following that, JAP is dedicated to making sure your financial reporting is credible. Our objectives are to go beyond conventional audit and assurance services, enhance reporting standards, and meet changing regulatory needs. Our business experts use a risk-based, strategic technique that helps increase your enterprise value, minimise risks, as well as improve performance.
Companies incorporated under the Companies Act of 2016 are required to undergo these audits. In general, companies have to provide their audited financial statements to the Companies Commission of Malaysia within thirty days of the end of their fiscal year and distribute their financial statements to shareholders within six months.
In addition, within four months of the end of their financial year, companies that are listed on Bursa Malaysia are required to submit annual reports and audited financial statements to both Bursa Malaysia and the Companies Commission of Malaysia.
According to the Companies Act of 2016, private companies may be exempt from audits in certain situations. These include inactive businesses, businesses with no income, and businesses with fewer than a certain number of employees, total assets, or revenue. Nonetheless, these businesses might decide to carry out audits for different purposes, such as obtaining banking facilities, tax filing, or preparing for future expansion when audited financial statements are required.
We are conducting government and co-operative audits, given their unique audit deliverables and requirements. Some of the engagements audit is different with ordinary audit.
Collaborating closely with Jabatan Audit Negara (JAN) and Suruhanjaya Koperasi Malaysia (SKM), we ensure the completion of all tasks with precision. This collaboration is fortified by our expertise and possession of the special licenses required for these distinctive audit engagements.
It is customary to describe auditors as “a watchdog but not a bloodhound.” Nevertheless, auditors may adopt the bloodhound role in specific scenarios, particularly when suspicions arise concerning embezzlement, fraud, financial reporting fraud, or accounting manipulation. Unraveling these incidents may require active participation in forensic investigations.
Should a forensic inquiry lead to legal proceedings, JAP possesses the expertise to serve as an expert witness in court. Our responsibility entails presenting a transparent stance on financial matters and articulating and substantiating the evidence uncovered during forensic investigations.
In the dynamic landscape of corporate maneuvers, companies often engage Reporting Accountants to navigate regulatory requirements. These professionals play a pivotal role in crucial corporate exercises such as Initial Public Offerings (IPOs), asset transactions, and rights issues, ensuring compliance with standards set by regulatory bodies like the Securities Commission and Bursa Malaysia.
To fulfill the role of Reporting Accountants, individuals must be registered with the Audit Oversight Board. With both experience and registered under AOB, JAP understand what needs for a company to have and helps navigating clients in numerous IPOs for which we have served as Reporting Accountants.
External auditors play a crucial role in maintaining market confidence in audited financial statements, which are relied upon during supervisory processes. The Labuan Financial Services Authority (Labuan FSA) places trust in the work of external auditors to ensure the accuracy of financial statements and assess the adequacy of accounting and general controls for annual financial statement production. Labuan FSA actively monitors the quality of external auditors’ work, emphasizing its significance in overseeing licensed entities effectively.
JAP work closely with authority to ensure all the companies registered under Labuan FSA comply with the law & regulations provides assurance and an independent perspective on the reliability of financial statements, particularly crucial given the expanding scope of management’s judgment permitted under the financial reporting standards adopted in Labuan IBFC.
Financial Due Diligence involves a detailed examination of a company’s financial health and performance to assess risks and opportunities during significant business transactions. This process is crucial in mergers and acquisitions, investment decisions, or strategic partnerships, providing a comprehensive understanding of the financial implications involved.
We take pride in offering unparalleled Financial Due Diligence services tailored to empower your business decisions. Our seasoned financial experts delve into the intricacies of your potential transactions, meticulously analyzing financial data to uncover insights that drive informed decision-making. With our comprehensive approach, we navigate the complexities of mergers, acquisitions, and strategic partnerships, ensuring you have a clear understanding of the financial landscape and enabling you to seize opportunities with confidence and precision.”
IT Audit is a comprehensive examination and evaluation of an organization’s information technology infrastructure, systems, and processes to ensure the confidentiality, integrity, and availability of data while assessing compliance with regulatory requirements. It involves a systematic analysis of IT controls, risk management practices, and overall IT governance.
At JAP, we specialize in cutting-edge IT Audit services designed to fortify your organization’s digital resilience. Our seasoned team of experts conducts meticulous assessments of your information technology landscape, identifying vulnerabilities, enhancing controls, and ensuring regulatory compliance. With our tailored IT Audit solutions, we empower your business to navigate the complex cyber landscape with confidence, safeguarding critical data and fortifying the foundation of your digital operations.
JAP excels in delivering customized audit services that cater to the unique needs of clients, including:
Agreed Upon Procedures: These audits are conducted with predetermined objectives and procedures, established collaboratively with clients.
Special Audits: Beyond statutory audits, JAP undertakes special audits at the request of clients, especially for significant corporate exercises such as IPOs, Reporting Accountant, etc. These audits aim to assess the financial standing and valuation of a company.
Independent Management Reporting: JAP provides specialized services for crafting management reports, offering an independent perspective when a third party is required to lend credibility to these reports.
Reporting by Key Performance Indicators (KPI): Recognizing the distinction between statutory reporting and reporting for management or Key Performance Indicators (KPI), Crowe Malaysia is adept at tailoring reports to meet the preferences of management and key staff. This flexibility ensures that the reports align with specific objectives and requirements.
In essence, JAP’s expertise extends beyond conventional audits, addressing diverse client needs and supporting them in various financial and corporate scenarios.
Advisory & Consultancy
At JAP, we specialize in providing a comprehensive advisory and consultancy services. With a focus on strategic guidance and expert insights, our dedicated team provides tailored solutions to address your unique challenges. Count on us to navigate complexities, enhance performance, and drive success in your endeavors assurance services, enhance reporting standards, and meet changing regulatory needs. Our business experts use a risk-based, strategic technique that helps increase your enterprise value, minimise risks, as well as improve performance.
Evaluating the viability of merger and acquisition deals, and leading the process of completing the deal by providing all necessary services related to M&A
Supervising IPO processes
Accounting advisory services go beyond routine bookkeeping tasks and focus on providing strategic financial guidance to help clients make informed business decisions. These services involve leveraging accounting expertise to analyze financial data, assess risks, and offer recommendations. Here are some key aspects of accounting advisory services:
- Strategic Financial Planning
- Financial Modeling
- Risk Management
- Cost Management and Analysis
- Profitability Analysis
- Financial Restructuring
- Regulatory Compliance and Reporting
- Corporate Governance
- Financial Training and Education and,
- Sustainability and Environmental, Social, and Governance (ESG) Reporting
Quality risk services involve helping clients identify, assess, and manage risks related to the quality of products, services, processes, and overall operations. These services are crucial for businesses in various industries to ensure compliance with quality standards, mitigate risks that could impact the reputation and customer satisfaction, and enhance overall operational excellence. Here are key components of quality risk services offered to clients:
- Risk Assessment
- Regulatory Compliance
- Quality Management Systems (QMS)
- Product Quality Assurance
- Audit and Inspection Support
- Validation Services
- Root Cause Analysis
- Continuous Improvement Programs
- Crisis Management and
- Training and Education
Administrator services refer to a range of tasks and responsibilities that professionals or firms undertake to manage and oversee various aspects of business operations on behalf of their clients. These services are designed to streamline administrative processes, ensure compliance with regulations, and allow clients to focus on their core business activities
Recovery and reorganization services involve providing assistance to clients who are facing financial distress, insolvency, or significant operational challenges. These services aim to help businesses navigate difficult situations, restore financial health, and implement strategies for recovery and sustainability. Here are key components of recovery and reorganization services offered to clients:
- Financial Restructuring
- Bankruptcy Advisory
- Turnaround Management
- Cash Flow Management
- Operational Review and Improvement
- Legal and Regulatory Compliance
Financial advisory services encompass a wide range of offerings designed to assist clients in making sound financial decisions, managing their assets, and achieving their financial goals.
Financial advisory services are highly tailored to meet the unique needs and circumstances of each client. Financial advisors work closely with clients to understand their financial objectives and provide guidance to help them navigate complex financial decisions.
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Tax Advisory
One of the major issues in most companies is taxation. Unless a proper tax planning being structured, a company may face huge tax liability.
We understand that you expect the firm whom you appoint to take great interest in your organisation by bringing with it all the tax planning and consulting expertise to reduce your tax exposure and to maximize returns to the shareholders. In this regard, you expect a committed team of experienced professionals with expertise match to your specific needs and who are able to give constructive advice.
Ensuring adherence to all tax regulations and laws relevant to an individual or organization. This includes timely and accurate filing of tax returns, meeting reporting requirements, and fulfilling all tax-related obligations.
Conducting in-depth examinations and assessments of tax-related matters by tax authorities. This service involves assisting clients in responding to audit requests, managing inquiries, and navigating investigations to ensure compliance.
Strategically managing financial activities and transactions to minimize tax liabilities legally. Tax planning involves evaluating the impact of various financial decisions to optimize tax outcomes and take advantage of available tax incentives.
Determining the appropriate pricing for transactions between related entities (e.g., subsidiaries, affiliates) to comply with tax regulations. Transfer pricing aims to ensure that these transactions are conducted at arm’s length, preventing tax evasion or manipulation.
Addressing taxes imposed on goods and services rather than income. Indirect taxes include value-added tax (VAT), goods and services tax (GST), Sales & Service Tax (SST) and other consumption-based taxes. This service involves navigating the complexities of indirect tax regulations, compliance, and planning.
Corporate Outsource
We pride ourselves on being more than just an audit firm; we are your strategic partner in business success. Offering a comprehensive suite of services, we not only conduct audits but also provide outsourcing solutions to external parties, aiming to effectively address and resolve various business challenges. Our dedicated team is committed to leveraging our expertise to assist your business in navigating complexities and achieving sustainable growth. Partner with us for tailored solutions that go beyond traditional audit services, ensuring your success in a dynamic business environment
Corporate Secretarial services involve managing and ensuring compliance with statutory and regulatory requirements related to corporate governance. This includes handling corporate filings, maintaining company records, organizing board meetings, and ensuring adherence to legal obligations to facilitate smooth corporate operations. Mostly we ensure the entity/ clients comply with Companies Act 2016.
Accounting and Bookkeeping services encompass the systematic recording, organizing, and reporting of financial transactions for businesses. This includes maintaining ledgers, preparing financial statements, managing accounts payable and receivable, and ensuring accurate and up-to-date financial records for effective decision-making and compliance.
Payroll services involve the management of an organization’s employee compensation, including salary processing, tax withholdings, and benefits administration. This service ensures accurate and timely payment to employees while complying with tax regulations and labor laws.
is category typically encompasses a variety of ancillary services that support overall business operations. These services may include legal and compliance support, licensing and permits assistance, contract drafting, and other administrative functions that contribute to the smooth functioning and regulatory compliance of a business. The exact offerings may vary based on the firm’s specialization and client needs.
Internal Audit
Internal Audit Excellence: Empowering Your Assurance
Internal audit services offered by JAP is tailored to elevate your organization’s risk management and operational efficiency. Our team of seasoned professionals is dedicated to ensuring that your internal controls are robust, compliance is steadfast, and potential risks are proactively identified and mitigated.
We have successfully partnered with diverse clients, navigating the intricate landscape of internal controls, risk management, and governance. Some of the procedures that will be conducted during the engagement explain as below:
- Setting Term-of-Reference (ToR) for board on corporate governance and internal control
- Setting ToR for Board Audit Committee (BAC)
- Formulating or reviewing the Audit charter for internal audit department
- Establishing the audit department (identify manpower and/or continuous on the job training)
- Formulating the annual internal audit plan or 5 years internal audit plan
- Performing internal audit function (in technical, operational, commercial, Financial or administrative)
- Presenting audit findings / areas of improvement to BAC
Share Valuation
At JAP, we specialize in delivering Share and Business Valuation Services that go beyond mere numbers – we provide insights that empower your strategic decisions and elevate your financial standing. Our expert team employs cutting-edge methodologies to ensure accuracy, transparency, and a comprehensive understanding of your business’s intrinsic value.
The process of determining the economic value of a business or company. Business valuation involves assessing various factors such as financial performance, market conditions, industry trends, and future growth potential to arrive at a fair and accurate estimate of the business’s worth. This service is often utilized for mergers and acquisitions, financial reporting, tax purposes, and business planning.
The assessment of the monetary value of an individual asset or a group of assets owned by a business or individual. Asset valuation can include tangible assets (e.g., real estate, machinery) and intangible assets (e.g., intellectual property, goodwill). This service is essential for financial reporting, tax compliance, investment decisions, and various legal and regulatory requirements. The valuation process considers market conditions, depreciation, and the asset’s contribution to overall business value.
Shariah Advisory
Our Shariah Advisory Services refer to financial and business advisory services that comply with Islamic principles and guidelines, particularly those derived from Shariah law. These services are designed to assist individuals, businesses, and financial institutions in ensuring that their financial activities align with Islamic ethical and legal standards.
Shariah Compliant Review is a specialized service provided by financial and advisory firms to assess and ensure adherence to Islamic principles in various financial activities, investments, products, or services. This comprehensive review ensures that all aspects comply with Shariah law, promoting ethical and socially responsible financial practices.
Evaluating investment portfolios or business activities to ensure they align with Shariah-compliant criteria, particularly in terms of permissible (halal) and impermissible (haram) activities.
Developing risk management strategies in compliance with Shariah principles to address financial uncertainties without resorting to prohibited practices.
Providing guidance on Islamic financial instruments, banking, and investment strategies to ensure compliance with Shariah principles.
Providing guidance on corporate governance structures and practices that align with Islamic principles.
Information Technology & Others
An Information Technology assessment & audit is the examination and evaluation of an organization’s information technology infrastructure, applications, data use and management, policies, procedures and operational processes against recognized standards or established policies.
Usually, IT audits are conducted by an organization’s IT manager or cybersecurity director (in smaller organizations, those roles may be occupied by the business owner or head of operations). Since the audit is designed to assess the efficacy of the infrastructure, and the IT manager’s job is to ensure that same efficacy, it makes sense that the five key areas of an IT audit more or less correspond with an IT manager’s key responsibilities. They are:
– System security
– Standards and procedures
– Performance monitoring
– Documentation and reporting
– Systems development
Within each of these areas, the auditor will run through a checklist of items to evaluate. Our audit checklist covers all of the steps of a basic IT audit, but depending on your infrastructure needs, you may find that you need to add areas or that some of those listed aren’t necessary for your company.
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jap@jamalamin.com.my +603-4142 1626
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