BUSINESS ARTICLE

Qualifying Audit Exemption Criteria for Private Companies in Malaysia

Qualifying Audit Exemption Criteria for Private Companies in Malaysia

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The Companies Commission of Malaysia has introduced new audit exemption criteria for private companies.

These criteria were made effective from 1 January 2025. Practice Directive No. 10/2024 outlines updated thresholds that could reduce your company’s audit obligations.

What can you expect from these changes?
  • New thresholds for revenue, assets, and employees that could qualify your business for exemption.
  • Phased implementation over the next three years, with increasing limits for each criterion.
  • Simplified compliance requirements for eligible companies, including the option to submit unaudited financial statements.
  • Opportunities for cost savings by reducing the need for a formal audit.
Is your company eligible? Read our report for the full details. 
READ REPORT

Please feel free to contact us via email at BRMY-[email protected] for any queries and clarifications.

Thank you.

                
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