Audit Exemption

On August 4, 2017, the Companies Commission of Malaysia (SSM) announced that private limited companies meeting any one of the following three criteria are exempt from conducting statutory audits:

1. Dormant Companies

• A dormant company is defined as a company that has had no accounting transactions since incorporation or for two consecutive financial years.

• Companies incorporated on or after January 31, 2017, are exempt from audits.

• Companies incorporated before January 31, 2017, are exempt from audits starting from financial years beginning on or after September 1, 2017 (previous financial years still require audits).

2. Zero Revenue Companies

• A zero revenue company is one that has had no revenue and total assets below RM300,000 for three consecutive financial years.

• Companies meeting this criterion are exempt from audits starting from financial years beginning on or after January 1, 2018 (previous financial years still require audits).

3. Threshold-Qualified Companies (Micro-Sized Companies)

• A company qualifies for this category if it meets all three of the following conditions for three consecutive financial years:

o Revenue below RM3,000,000
o Total assets below RM3,000,000
o Employee headcount of 30 or fewer

• Companies meeting this criterion are exempt from audits starting from financial years beginning on or after July 1, 2018 (previous financial years still require audits).

This exemption does not apply to private companies that opt to submit an exemption certificate under Section 260 of the Companies Act 2016.

审计豁免

公司注册局（SSM）于2017年8月4日发出文告：满足以下三项条件中的任何一项的有限公司，无需进行年度审计（statutory audit)：

1. 冬眠公司 （Dormant Companies) 

* 冬眠公司的定义：从成立开始或连续两个财政年度（Financial Year Ended，以下简称”年”）都完全没有任何会计事务（Accounting Transaction）的公司。
* 于2017年1月31日当天或之后成立的冬眠公司都无须审计。
* 于2017年1月31日之前成立的冬眠公司：2017年9月1日当天或之后才开始的年份，都无须审计（之前的年份仍然需要审计）。

2. 零收入公司（Zero Revenue Companies）

* 零收入公司的定义：连续三年没有任何收入 （Revenue）以及连续三年的公司资产（Asset）少过300,000
* 零收入公司，在2018年1月1日当天或之后才开始的年份，都无须审计（之前的年份仍然需要审计）。


3. 超小型公司（Threshold-Qualified Companies)

* 超小型公司的定义：连续三年收入少过RM3,000,000、连续三年的公司资产（Asset）少过3,000,000以及连续三年公司的员工人数等于或少过30个人
* 超小型公司，在2018年7月1日当天或之后才开始的年份，都无须审计（之前的年份仍然需要审计）

这项豁免不可用于选择根据2016年公司法令第260项提交豁免私人企业证明的豁免私人企业。