Malaysia

On 16 December 2024, the Companies Commission of Malaysia (SSM) issued Practice Directive 10/2024, introducing new qualifying criteria for audit exemption.  These exemptions are designed to reduce the regulatory and compliance burden for micro, small and medium-sized enterprises in Malaysia while maintaining transparency and regulatory compliance. This Practice Directive is applicable for private companies (Sdn …

New Audit Exemption Criteria for Private Companies in Malaysia Read More »

ESG (Environmental, Social, and Governance) has become a pivotal framework for assessing corporate responsibility, sustainability, and investment opportunities. As both businesses and investors adopt ESG principles, understanding the key terminology becomes essential for navigating this growing domain. Breaking down ESG terminology 1. Carbon footprint A carbon footprint measures the total greenhouse gas (GHG) emissions associated …

A Comprehensive Guide to ESG and its Key Terms Read More »

Beneficial Ownership (BO) Who is a Beneficial Owner: A Beneficial Owner is always a natural person who ultimately owns or controls over a company through interest in shares and effective interest and includes an individual who exercises ultimate effective control over a company, regardless of whose name the shares are held in. Persons Responsible for …

Latest SSM Updates: Beneficial Ownership and MBRS 2.0 Submissions Read More »

As businesses look toward 2025, they are entering an era defined by rapid technological innovation, shifting market demands, and a stronger societal focus on sustainability. The lessons learned from the pandemic and the ensuing global disruptions have reinforced the importance of adaptability, long-term vision, and a holistic approach to business strategy.  The next few years …

Business Planning for 2025: Embracing Change and Shaping the Future Read More »

Safeguarding your company’s assets is crucial for maintaining stability, ensuring operational efficiency, and achieving long-term growth. Whether these assets are tangible—like property, machinery, and inventory—or intangible, such as intellectual property, customer data, and brand reputation, they are the backbone of your business. Leaving them vulnerable to risks like theft, fraud, cyberattacks, or mismanagement can lead …

How to Safeguard Your Company’s Assets Read More »

Employee well-being has become a focal point for modern organisations, impacting everything from productivity to employee retention. As businesses recognise that their most valuable assets are their people, the importance of fostering a healthy workplace culture has never been more evident. This article delves into the specifics of what constitutes employee well-being, the tangible benefits …

Employee Well-Being in the Workplace: Fostering a Healthy Culture Read More »

In today’s digital age, cyber security is not just a concern for large corporations; small and medium-sized enterprises (SMEs) are equally, if not more, vulnerable to cyber attacks. SMEs often face unique challenges due to limited resources and expertise. With cyber threats becoming increasingly sophisticated, it’s essential for SMEs to adopt robust cyber security measures …

Cyber Security Best Practices for SME Read More »

The implementation of e-invoicing aims to support the growth of Malaysia’s digital economy and enhance the efficiency of its tax administration. E-invoices will replace traditional paper-based invoices, improving the efficiency of recording financial transactions and facilitating real-time data collection. The Inland Revenue Board of Malaysia (IRBM) has outlined specific requirements and the various methods available …

E-invoice: What Is Mandatory and What Are The Options To Transmit E-invoices to IRBM Read More »

In the realm of modern business operations, where data reigns supreme and regulatory scrutiny is ever-increasing, the role of artificial intelligence (AI) in bolstering internal controls and compliance mechanisms has become paramount. With its ability to analyse vast amounts of data, detect patterns, and make decisions with minimal human intervention, AI offers a transformative solution …

The Role of Artificial Intelligence on Internal Controls and Compliance Read More »

Internal controls form the bedrock of a company’s governance structure, encompassing a multifaceted set of mechanisms and procedures designed to safeguard assets, ensure financial accuracy, and fortify operational efficiency. In this article, we will delve into the definition of internal controls and explore their significance in the corporate landscape. Defining internal controls:  Internal controls encompass …

What Are Internal Controls and Why Are They Important Read More »