Statutory Audit Services for SME Malaysia

Every Sdn Bhd needs its financial statements in order, and most need them audited each year. As an approved audit firm, our statutory audit services for SME Malaysia businesses are independent, efficient and shaped around the size of your company, with clear fees agreed upfront.

Audit team reviewing an SME's financial statements
Accountant preparing records for the auditor
Auditor discussing findings with a client

The basics

Does my company need a statutory audit?

Under the Companies Act 2016, a Malaysian company must prepare financial statements every year, and most private companies must have them audited by an approved auditor before they're circulated to shareholders and lodged with SSM.

Some small private companies can now qualify for an audit exemption. Even then, many still choose an audit because their bank, investors or a grant requires it.

  • Most Sdn Bhd companiesNeed audited financial statements every year
  • Companies with bank facilitiesLenders often ask for audited accounts, even if you're exempt
  • Growing companiesInvestors, tenders and grants usually need audited accounts

Audit exemption

Can my company skip the audit?

SSM has widened the audit exemption for private companies in stages. A company qualifies if it meets any two of the three limits below, for the current year and the two years before.

Audit exemption limits for private companies

Financial years startingRevenue up toTotal assets up toEmployees up to
From 1 January 2025RM1 millionRM1 million10
From 1 January 2026RM2 millionRM2 million20
From 1 January 2027RM3 millionRM3 million30

Dormant companies and some companies with no revenue may also qualify. The exemption doesn't apply to foreign companies, subsidiaries of public companies or exempt private companies. Based on SSM's Practice Directive; we'll confirm whether your company qualifies.

Exempt companies still need to prepare financial statements and lodge them with SSM. If you're close to the limits, or your bank, investors or grant providers expect audited accounts, talk to us before deciding.

What's included

What our statutory audit services for SME Malaysia include

We tailor the audit to the size and nature of your business and its internal controls, and give you accurate, unbiased information for important decisions.

  • Statutory audit

    An independent audit of your financial statements, as required by the Companies Act 2016.

  • Audit report

    A signed auditor's report to accompany your financial statements.

  • Practical recommendations

    Findings on your internal controls and records, explained in plain language.

  • Due diligence audit

    Usually done before buying or investing in an existing business.

  • Special audits

    Other audits your business needs, such as for a bank, grant or contract.

  • Lodgement support

    Our company secretarial team circulates and lodges your accounts with SSM.

Audit process

How your annual audit runs

Starting soon after your financial year-end leaves enough time to meet the six-month deadline.

  1. Planning

    We agree the scope, timeline and fee, and send you a document list.

    After year-end
  2. Fieldwork

    We review your records, test transactions and check your controls.

    We handle this
  3. Findings

    We discuss any adjustments and recommendations with you.

    We guide you
  4. Audit report

    Financial statements finalised and the auditor's report signed.

    We handle this
  5. Circulate and lodge

    Accounts sent to shareholders and lodged with SSM on time.

    Within 6 months + 30 days

Documents

What to prepare for your audit

Having these ready makes the audit faster. If your books aren't up to date, our accounting team can help first.

Financial records

  • General ledger and trial balance
  • Bank statements and reconciliations
  • Sales and purchase invoices
  • Fixed asset register
  • Payroll records
  • Loan and hire purchase statements

Company documents

  • SSM company information
  • Board and shareholder minutes
  • Key contracts and tenancy agreements
  • Previous year's audited financial statements
  • Tax computations and correspondence

FAQ

Statutory audit: frequently asked questions

Is a statutory audit compulsory for an Sdn Bhd?
For most private companies, yes. The Companies Act 2016 requires audited financial statements every year, unless your company qualifies for SSM's audit exemption.
How do I know if my company is exempt from audit?
Your company may qualify if it meets two of the three limits on revenue, total assets and employees for the current year and the two years before. The limits are being raised in stages up to 2027. We can check your figures for you.
How much do statutory audit services for SME Malaysia cost?
Audit fees depend on your company's size, the number of transactions and how well your records are kept. We review your accounts and quote a fee upfront, with no hidden costs.
What are the deadlines for audited accounts?
Financial statements generally have to be circulated to shareholders within six months of your financial year-end, then lodged with SSM within 30 days of circulation.
What if my accounts are not up to date?
Our accounting team can clear backlog accounts and bring your books up to date first, so the audit can go ahead smoothly.
What's the difference between accounting and auditing?
Accounting is preparing your books and financial statements. Auditing is an independent check that those statements give a true and fair view. The two are done separately to keep the audit independent.

Year-end coming up?

Send us your financial year-end and we'll quote for statutory audit services for SME Malaysia companies, with a plan to meet your deadlines.

Information on this page is a general guide as of October 2026, based on the Companies Act 2016 and SSM's audit exemption Practice Directive. Requirements may change. Contact us to confirm what applies to your company.