Year-End Closing for Malaysian SMEs: Make Accounts Audit-Ready
A practical sequence for finalising bank balances, customers, suppliers, expenses, stock and documents before annual reporting.
Read guide →Audit preparation and coordination / Malaysia
Audit & Assurance Coordination
We help businesses prepare for statutory audits through financial statement preparation support, audit documentation and liaison with independent approved audit firms. Statutory audits and audit opinions are performed and issued by the appointed licensed audit firm.
Who this support is for
A clear coordination contact for audit preparation.
For businesses preparing financial information for an audit by an appointed independent approved audit firm. TAA can act as the client's accounting preparation and coordination contact within an agreed scope.
Coordination scope
Preparation and liaison, not the statutory audit.
- Audit planning and coordination with the client and appointed independent audit firm.
- Financial statement preparation support within the agreed accounting scope.
- Organization and coordination of audit documentation supplied for the engagement.
- Liaison with independent approved auditors on information requests and schedules.
- Audit query follow-up with the client and relevant record owners.
- Post-audit compliance coordination based on the appointed auditor's issued report and the agreed scope.
The appointed independent licensed audit firm performs the statutory audit and issues the audit opinion. TAA does not perform statutory audits, sign audit reports or hold an independent statutory audit licence. The audit firm retains responsibility for its independent procedures and conclusions.
How coordination works
Keep responsibilities clear at each step.
- Initial discussion: understand the business, requested accounting preparation and audit timetable from the client.
- Confirm roles: agree TAA's accounting preparation scope and identify the independent licensed audit firm appointed by the client.
- Prepare and coordinate: organize agreed financial information and liaise on audit documentation and queries.
- Follow up: coordinate post-audit records or compliance administration within the agreed scope.
Preparing for the discussion
Information that may help define coordination.
Depending on the agreed work, it may help to discuss the accounting period, current financial statements or drafts, available ledgers and supporting schedules, audit documentation already requested, and the appointed audit firm's contact and timetable. The final document list is set for each engagement.
Quotation factors
Fees reflect preparation and coordination scope.
A quotation may depend on the condition and volume of accounting records, financial statement preparation required, number of reporting periods, audit documentation coordination and follow-up requested. The appointed audit firm's own fees are separate and agreed directly with that firm.
Frequently asked questions
Clear roles in the audit process.
What documents should I prepare for my company’s audit?
Typical documents include financial statements, general ledgers, bank statements, sales and purchase invoices, key agreements and supporting records. We can help organise documents and coordinate requests from your appointed independent licensed audit firm.
Who appoints and directs the audit firm?
The client appoints an independent approved audit firm. That firm retains its independence and responsibility for audit procedures, conclusions and its opinion.
What audit-related support can Tan Accounting Advisory coordinate?
Within an agreed scope, we can support financial statement preparation, organise audit documentation, liaise on information requests and follow up on agreed post-audit administration.
Is the audit firm’s fee included in our quotation?
The independent audit firm’s fees are separate and agreed directly with that firm. Our quotation covers only our confirmed accounting preparation and coordination scope.
Related services
Related accounting support.
Audit preparation and coordination
Discuss audit coordination support.
Share the accounting period, preparation support and coordination requested. The appointed independent audit firm remains responsible for statutory audit work and its opinion.
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