TITLE: REMINDER! Impact Assessment Survey on Audit Exemption Requested by Council

DATE: 03/01/2017

In response to the public consultation on SSM draft Practice Directive 1/2017 Criteria for Audit Exemption for Private Companies, the Institute has made its submission to Suruhanjaya Syarikat Malaysia (SSM) on the 25th November 2016. Whilst we supported audit exemption for dormant companies, we strongly disagree with the proposition to apply it to small companies and we are of the view that an impact assessment has to be done before a final decision is made by SSM.

As there is very little empirical data available to support our stance, the Council of MIA has commissioned a survey to collate data on consequences of the proposed audit exemption on your practice and to solicit your views on the proposed audit exemption by SSM. The deadline for submission is 16 January 2017 (Monday).

Please be assured that all individual responses will remain anonymous and confidential. The findings of the survey will be aggregated and submitted to SSM in support of the Institute’s stance on audit exemption for dormant companies only.

Your contribution is very crucial to the Institute’s initiative and will enable us to put forward a stronger view against audit exemption for small companies. We strongly urge all members to support us by submitting the requested information accordingly.

Description: Survey on Audit Exemption
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