+6016-718 9179

Audit & Assurances

Our Services of Auditing Function Including :
 
 
Statutory financial audit of financial statements required by Companies Act 1965, ("New" Companies Act 2016, effective 31/1/2017)
 
Licensed manufacturing warehousing ("LMW") audit
 
Special physical sighting of fixed assets of a manufacturing company
 
Special audit on specific class of transactions or areas of interests as required
 
Special half end review
or audit
 
Compilation of
Financial Report
(for example used in Singapore for small medium enterprise exempted from audit)
 
Internal control review
 
Due diligence audit
 
Solicitor's certification & accountant report
 
Income tax field audit & investigation assessment
 
SST field
audit assessment
 
Other types of assurance services tailored to your needs
 
Audit exemption
 
Audit is our core business and the founder of J. K. Tan & Co has obtained the approved company auditors’ license from the Ministry of Finance Malaysia (MOF). We are a firm, registered with the Malaysian Institute of Accountants (MIA) based in Johor Bahru. With the changes of stakeholders’ expectation, we are target to provide the competent and professional services in order to better meeting the investors expectation to provide the completeness, accuracy and fair presentation of information in the audited financial statements.

Our firm is focus on high level of quality of auditing services, in line with the International Standards of Quality Control (“ISQC 1”) compliance.  We are in compliance with approved applicable accounting standards issued by the Malaysian Accounting Standard Board (“MASB”) either for private entities or other than private entities. We are in compliance with 36’s Clarified International Standards of Auditing. We are to apply the MIA by-Laws, The International Ethics Standards Board for Accountants (IESBA's) Code of Ethics for Professional Accountants. And we are independence and adopt professional skepticism in every audit engagements we undertaken.
 
Audit in Malaysia, auditors express opinion whether financial statements give a true & fair view in accordance with approved accounting standards issued by the Malaysian Accounting Standards Board ("MASB") and requirements of the Companies Act 2016, in Malaysia.

The applicable accounting standards are Malaysia Financial Reporting Standards ('MFRS") or Financial Reporting Standards ("FRS") or Malaysia Private Entities Reporting Standards ("MPERS"). MFRS or FRS is use for entities other than private; on the other hand, MPERS which came into effect on 1 January 2016 for private entities.

What's Audit?

According to International Standard of Auditing (ISA) 200, “Overall Objectives of the Independent Auditor and the Conduct of an Audit in accordance with the International Standards of Auditing”,

“The objective of an audit is to obtain a reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, thereby enabling the auditor to express an opinion on whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework”

“To report on the financial statements, and communicate as required by the ISAs in accordance with the auditor’s findings.”
  What's Audit?

Why Need Audit?

In Malaysia, auditing profession is required for every Companies incorporated under the Companies Act 2016. It serves as a check and balance to better enhance the reliability and creditability of audited financial statements, in which various stakeholders used it as a source for reference.

In additions, in the course of audit, our audit procedures also able to help detecting any internal control weaknesses encountered and suggest recommendations for both present and future challenges. We will communicate to the Board of Directors or Audit Committee (listed company) of any deficiency in internal control.

Auditors reports have been widely used as reference to apply bank loans facilities as it is certified by an independent third party. The reliability is more than management accounts which is subject to certain manipulation in general or errors due to incompetent account assistants.
 
Importance
of Audit to SMEs
 
View PDF Filearrow
 
Audit Report in Accordance with
MFRS - RPG11
 
View PDF Filearrow
 
Audit Report in Accordance with MPERS - RPG12
 
View PDF Filearrow
 
为什么审计
中小企业很重要
 
View PDF Filearrow

Frequently Ask
Questions on Auditors:

Who is the company auditors?
Read More 
What is the difference between accountants & auditors?
Read More 
Why need the independence of accountants & auditors?
Read More 
Businesses see audit as an extra costs as compare to corporate taxation. Is it correct?
Read More 
Why some audit firm didn’t perform audit physical stock observation but my auditors want to come checking?
Read More 
I do not want to provide provision for doubtful debts even though more than 1 year of debtor due to non deduction according to tax.
Read More 
My auditor sent me management letter, but I don’t understand what is it?
Read More 
My friend told me his auditor is charging very cheap & can finish within 1 week, shall I change?
Read More 
My auditors give me unmodified opinion audit report, is it mean any issues of my report, according to English grammar?
Read More 
 

When to
Appoint Auditors?

The first directors can appoint an auditor at any time before the first Annual General Meeting (“AGM”) to hold office until the conclusion of that AGM. The reappointment of auditor is from an AGM until the conclusion of the next AGM.

Where there is a causal vacancy arises from disqualification, removal or resignation of an auditor before the end of his term of office, the directors or members may appoint a new auditor, provided the auditor is qualified and has not been previously disqualified from acting as an auditor.
  When to Appoint Auditors?
 

Statutory Rights &
Obligations of Auditors

Right to Remuneration
An auditors’ remuneration is fixed by a Company in a general meeting, it is common practice, at the same meeting,
to give directors authorization to fix the remuneration.
 
Right to Access Information
 
Sec 174(4) CA1965
  • Auditors unrestricted right to access books, accounts and vouchers of clients at all time.
  • Auditors to obtain information and explanation from the officers of the company necessary for the performance & completion of audit.
 
Sec 174(3) CA1965
  • Auditors must stated clearly in audit report whether they have, the best of knowledge and belief.

Legitimate Approved
Company Auditors

 
Announcement 1
 
Announcement 2
Members of the Public are reminded that under the Accountants Act 1967, no person shall practise or hold himself out as a Chartered Accountant or Licensed Accountant providing public practise services unless the person is registered with MIA.
 
To get audit license, candidates must accumulated relevant years of experiences + apply & passed the audit license interview by Ministry of Finance Malaysia (MOF).
 
View Morearrow
 
Statutory audit should be done by Malaysian
Institute of Accountants member firms.
 
 
View Morearrow
 

Testimonial

 
"I am Pier from Island Paradise, 20 years tour agent company in Johor Bahru. We used J.K.Tan & Co for 6 years, the Co. has a co-operative team & managed to complete our account submission timely.

Also, they advise us on our account matters, discover any omission of invoices such as purchases or expenses. They form good understanding with our account personnel to prepare a proper and compliance accounts. Thus, I highly recommend J.K.Tan & Co as your auditor & tax agent"
 
Pier Chea
Island Parade Tour & Travel Sdn. Bhd.
 
 
 
Nam pretium turpis
Phasellus ullamcorper ipsum rutrum nunc nunc nonummy.
 
About Usarrow
 
Nam pretium turpis
Phasellus ullamcorper ipsum rutrum nunc nunc nonummy.
 
Why Usarrow
 
Nam pretium turpis
Phasellus ullamcorper ipsum rutrum nunc nunc nonummy.
 
Awards & Accreditationsarrow
J. K. Tan & Co  
  14-02, Jalan Setia Tropika 1/24, Taman Setia Tropika, 81200 Johor Bahru, Johor.
 
  info@jktanco.com.my     +607-288 2258 | +607-288 2259     +6016-718 9179
 
J.K. Tan & Co
 
Home
 
About Us
 
Overview
 
Our Team
 
Services
 
Audit & Assurances
 
Corporate Tax
Compliance & Advisory
 
SST Compliance & Advisory
 
Accounting Services
 
Resources
 
Join Us
 
Contact Us
Copyright 2025 by J. K. Tan & Co (AF-002116)