SSM proposes to review audit exemption criteria for private companies
2 months ago
The Companies Commission of Malaysia (SSM) has proposed to review the threshold of the qualifying criteria for audit exemption for certain categories of private companies.
SSM said in a statement that the proposed review would be conducted via a consultation exercise with the publication of the Consultative Document on Proposed Review of Audit Exemption Criteria for Private Companies in Malaysia today.
It said that as a background, the qualifying criteria for audit exemption was introduced on Aug 4, 2017, Practice Directive No. 3/2017 in line with the policies to reduce the regulatory and administrative burdens faced by smaller companies in complying with the Companies Act 2016.
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