Audit Exemption for Certain Private Companies in Malaysia by Companies Commission of Malaysia (SSM)

Qualifying Criteria:

To qualify for audit exemption, a private company must meet at least two of the following conditions for the current and the immediate past two financial years:

• Revenue: Does not exceed RM3,000,000.
• Total Assets: Does not exceed RM3,000,000.
• Employees: Does not exceed 30 employees.

Definitions:

• Annual Revenue: Refers to revenue received or receivable during the year but excludes:
  • Credit entries for the reversal of earlier accounting entries.
  • Entries related to taxation.
  • Reversals of earlier provisions.
  • Gains from the derecognition (disposal) of property, plant, equipment, and investment property recorded in the Statement of Comprehensive Income.

• Total Assets: Refers to all assets as defined under applicable approved accounting standards, including both current and non-current assets.

• Employees: Full-time employees employed by the company at the end of each relevant financial year, including:
  • Local, foreign, contract workers, and probationary workers.
  • Exclusions:
    • Directors who are also working as full-time employees.
    • Shareholders who are also working as full-time employees.
    • Family members or friends working without pay or on irregular wages.

Implementation:

Non-Application (Clause 12):

The audit exemption does not apply to the following types of companies:

• Exempt Private Companies: Companies that have opted to lodge a certificate with the Registrar regarding their status as an exempt private company under Section 260 of the Companies Act 2016.
• Public Companies: This includes listed companies.
• Subsidiaries of Public Companies: Private companies that are subsidiaries of public companies.
• Foreign Companies: Companies that are incorporated outside Malaysia.

马来西亚公司委员会（SSM）于2024年12月16日发布的实务指引 (PD 10/2024), 该指引规定了符合审计豁免资格的特定私人公司的条件。

资格标准

若要符合审计豁免资格，私人公司必须满足当前和过去两个财务年度中的以下条件至少两项：

• 收入：不超过 RM3,000,000。
• 总资产：不超过 RM3,000,000。
• 员工人数：不超过 30名员工

定义

1. 年度收入：指公司在该年度内收到或应收的收入，但不包括：

   • 用于冲销早期会计分录的贷方条目。
   • 与税务相关的条目。
   • 早期拨备的冲销。
   • 在《综合收益表》中确认的固定资产、设备和投资物业处置（终止确认）的收益。

2. 总资产：指根据适用的已批准会计标准定义的所有资产，包括流动资产和非流动资产。

3. 员工：指在每个相关财务年度结束时受雇于公司的全职员工，包括：

   • 本地员工、外籍员工、合同员工和试用期员工。
   • 不包括：
     • 兼任全职员工的公司董事。
     • 兼任全职员工的公司股东。
     • 未领取工资或领取不定期工资的家庭成员或朋友。

实施

审计豁免的资格门槛将在三年内逐步实施（2025-2027年），并逐年提高收入、总资产和员工人数的限制，具体如下：

不适用情况（第12条）

以下类型的公司不适用审计豁免：

1. 豁免私人公司：根据《2016年公司法》第260条，已选择向注册局提交豁免私人公司证书的公司。
2. 上市公司：包括所有的上市公司。
3. 上市公司的子公司：属于上市公司的私人子公司。
4. 外国公司：在马来西亚以外注册成立的公司。