Accounting Firms in Malaysia
As at 30 June 2008, there are 1,348 firms which are offering auditing services and another 650 firms providing other accountancy related services. Most of the global networks of accounting firms such as Ernst & Young, Deloitte, KMPG, PricewaterhouseCoopers, BDO, Geneva Group International, Howarth, Baker Tilly, Urbach Hacker Young and Grant Thornton have their presence in Malaysia.
Accounting firms have to be registered with MIA and members of MIA who wish to offer public practice services should also possess practising certificate issue by MIA. However, specific approvals should be obtained to provide the following services:
- Audit of limited companies; approval to be obtained from the Ministry of Finance and firms should be registered with the Companies Commission Malaysia
- Audit of co-operative societies; approval to be obtained from the Malaysia Co-operative Society Commission
- Audit of banks and financial institutions; approval to be obtained from Bank Negara Malaysia
- Tax agent services, approval to be obtained from the Inland Revenue Board
- Receivership and liquidation services; approval to be obtained from the Ministry of Finance
- Financial planning; approval to be obtained from the Securities Commission Malaysia
Read more about this topic: Accounting In Malaysia
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