Auditing
Exceptional Auditing Services
Practical Financial Advice You Can Count on
Focus Your Time and Efforts on Running Your Business and Leave the Audits to Us
Auditing is an activity undertaken by a Certified Public Accountant. Some audits are mandatory requirements. However, there are also audits which are initiated by government agencies while others are voluntary internal requirements. This area of service is very wide and the following covers only some of the more important audits.
STATUTORY AUDITS
These are mandatory audits required by the Companies Act 2016. The company appoints an external auditor whose task is to conduct an audit in accordance to auditing standards to express a view on whether the financial statements have been prepared in acordance with International Accounting Standards and that the Financial Statements reflects a true and fair view of the position of the company.
This can be a time consuming activity and may disrupt the daily activities of some employees. Our service is tailored to relieve the burden of your staff and to ensure that your business continues to function without disruption. Our service will include laising with the external auditors and to furnish them all the relevant financial reports, supporting documents, schedules and other relevant information for the auditor to complete the audit exercise. Meanwhile we keep you updated so you know exactly the status of the progress of the audit.
TAX AUDITS
Tax audits are undertaken by the Inland Revenue Department. The objective of the audit is to ensure that the company has complied with all prevailing tax regulations and that the tax declared is accurate. This can be a time consuming activity and can disrupt your employees from their daily duties.
Accsys will undertake the responsibility of liaising with the authorities and free you and your staff of the time and burden this audit may entail. Accsys will liaise with the authorities in all aspects of the audit and will provide you with regular updates.
SST AUDITS
SST audits are undertaken by the Royal Malaysian Customs. The objective of the audit is to ensure that the company has complied with all prevailing SST regulations and that the SST declared is accurate. This can be a time consuming activity and may be disruptive of the daily activities of the company.
We will undertake the responsibility of liaising with the authorities and free you and your staff of the time and burden this audit may entail. Accsys will liaise with the authorities in all aspects of the audit and will provide you with regular updates.
INTERNAL AUDITS
Internal Audit is an independent consulting service that is designed to add value to the business and improve the entity’s operation. It provides a systematic and disciplined approach to evaluating and assessing the entity’s risk management, internal control, and corporate governance.
Scope of internal audit is generally determined by the audit committee, the board of directors or directors who have equivalent authorization. If there is no audit committee and board of directors, internal audit normally reports to the owner of the entity.
Internal audit activities normally covers internal control reviews, operational reviews, fraud investigation, compliance reviews and other special tasks assigned by the audit committee or BOD.
SPECIAL AUDIT
There are occassions where auditing an organisation, process or even an event is undertaken under special circumstances. These are termed as Special Audits . This may be when senior management recognise that there may be incidents which are detrimental to the company as a whole.
This includes incidents of fraud, misappropriation or even corrupt practices which if unchecked could become a bad culture in the organisation leading to loss of profits and employee demoralisation. Other circumstances where it may be necessary to conduct a special audit would be when there is sudden and substantial increase in cost in a particular area or in general as a whole.
Special audits can be sensitive and the board must give clear terms of reference to the auditor. Upon completion of the audit the audtor would submit a confidential report to the management in accordance to the terms of reference.
Why limit yourself only to our top level Taxation service. Together with our Accounting, Payroll, auditing and financial services you will have an entire team of experts at your service.