J. K. Tan & Co (AF002116)
 
Audit Services
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Accounting Service [会计,做帐]


Accounting services are provided by our associate accounting firm based in Tun Aminah, Skudai, Taman Universiti and Johor Bahru. They are the solution to your messy documents. They are your Best Friend to prepare a management account from not well organised source invoices, payment vouchers, statement of accounts, and etc.

As chartered accountants firm, we always ensure the account's preparers are competence and management accounts are prepared in compliance with approved applicable accounting standards in Malaysia, which is Private Entity Reporting Standards ("PERS") and after 1/1/2016 is Malaysia Private Entity Reporting Standards (MPERS). 

How to Differentiate Chartered Accountants

Who is an accountant?
In Malaysia, the accounting profession is regulated by the Accountants Act 1967 (the ‘Act’). The Act requires persons holding themselves out as, or practicing as accountants, to be registered as a member of the Malaysian Institute of Accountants (MIA).

In Malaysia, the word ‘accountant’ is protected. This is provided for under the provisions of the Accountants Act 1967, which states that “No one can hold himself out or practice as an accountant unless he is registered as a member of MIA”.

Section 22 & 23 of the Act require a person residing in Malaysia to be registered with MIA if he/she:
  • Practice or hold himself out as a chartered accountant, auditor, tax consultant, tax adviser or any other similar description;
  • Adopt, use or exhibit the terms “chartered accountant”, “auditor”, “tax consultant”, “tax adviser” or any other term of similar description; or
  • Adopt, use or exhibit the term “accountant” or any other term of similar description in such circumstances as to indicate or to be likely to lead persons to infer that he is a chartered accountant or that he is qualified by any written law to practice the profession of or is in practice as a chartered accountant.

Section 26 further stated that any person who contravening Section 22 & 23 of the Act shall, on conviction, be liable to: 
  • A fine not exceeding RM10,000 or imprisonment for a term of not exceeding one year. 
  • If repeated offences, fine not exceeding RM20,000 or imprisonment for a term of not exceeding two years.

Despite the fact that many businesses do not have the volume, resources and necessitate for hiring a qualified accountant. Getting a higher level advice from Chartered Accountants can save you the hassle of errors in preparation of accounts and getting the heavy fines from the IRB, SSM and etc.

Engaging an accounting firm that registered with Malaysian Institute of Accountants (“MIA”) on a consultative basis is a good step for a growing business. There are two types of firm registered with Malaysian Institute of Accountants (“MIA”), namely:
  • Audit firm ("AF xxx" or "AF xxxxxx")
  • Non-audit form ("NF xxxx")

Our services are to assist you (the Company's Directors of a Sendirian Berhad) to prepare the management accounts:
  • Trial balances
  • Statement of Financial Position / Balance Sheet
  • Statement of Comprehensive Income / Income Statement
  • Statement of Changes in Equity
  • Statement of Cash Flows
  • Notes to the Financial Statements
  • Detailed Profit & Loss Accounts
 
We are also providing shared outsourcing services namely payroll computation, problem solving advice, accounting advice - conversion from a sole proprietor or partnership to Sendirian Berhad.

Our charges are normally based on hourly rate, depending on the level of complexity and the personnel from our side who actively involved in performing the tasks.

In strengthening good corporate governance environment, Companies Commission of Malaysia (“CCM”) is going to take action against those firms that registered under Register of Business Act (“ROBA”) which many of the firms do not meet the basic criteria of MIA as providers of the accounting services, i.e. must be operate by a person eligible to call himself a Chartered Accountant in Malaysia. I strongly urged the business communities to engage good quality accounting services only from those firms registered with the Malaysian Institute of Accountants (“MIA”).