Scope of Work
Our company offers the following services:
- Internal Audit Services
- Forensic Audit Services
- Malaysia Audit Fees Schedule and Table
- Auditing and Assurance Services
Internal Audit Services
Our internal audit services will help you benchmark your systems and products with the best in the industry. We perform routine assessments of your internal processes to make sure that they meet or surpass international standards, as well as government licensing requirements.
Our seasoned auditors are trained to think like business executives rather than simply number-crunchers. In this way, they can give the best advice to senior management and the Board of Directors to meet their business objectives. We work with supervisors and team members to better execute their roles and responsibilities. Internal auditors play a vital role in evaluating the organisation’s effectiveness and protecting it from uncertain risks.
Forensic Audit Services
Forensic accounting is typically associated with litigation and court proceedings. The audit result can be used as evidence in court to prosecute the erring party for negligence, embezzlement, or fraud. But forensic audit runs the whole gamut of services, even including child or spousal support. Our services include preparing a detailed forensic audit of your company for greater transparency. The report will be the badge of assurance for government regulators and banks that all your transactions are legal and aboveboard. In this kind of investigation, the forensic accountants will examine the books for possible frauds like incorporate corruption, misappropriation of assets, and falsifying financial statements.
The term also covers many expansive scopes of activities, including:
— Data analytics and insights
— Interview information with queries from emails, hard drives, databases, etc.
— Analyses shreds of evidence
— Reviews internal controls
— Report our findings
— Proficient authentication
Malaysia Audit Fees Schedule and Table
The Malaysia Institute of Accountants (MIA) issued Practice Guide (RPG) 7, which includes the fees for the Audit Firm that provides statutory and regulatory auditing services, beginning 1st March 2010.
There were several reasons for issuing this practice guide, such as:
— Increase in operation cost
— Due to higher auditing standard requirements, there is an increase in the compliance burden
— To ensure the professionalism of auditors despite the “price war” among competitors in Malaysia
In this guide, several due processes are also mentioned:
— Determination of issues
— Consulting various stakeholders
— Consulting relevant authorities
— Research on current activities whether within or outside Malaysia
Auditing and Assurance Services
One of the challenges of the accounting profession is the constantly changing rules, regulations, and standards in Malaysia. While they can be complex to navigate, these guidelines are crucial in making sure that organisations are adopting the best practices in management. In effect, our auditing and assurance services will give peace of mind to your stakeholders due to the transparency of your operations. These include regular disclosures to regulatory bodies, compliance with the government standards, and effective and accurate reporting of your financials.
The auditor will:
- Elaborate on the aspects of an audit like internal control systems, sampling, the concept of materiality, etc.
- Employ the basic environment and principles of audit and assurance
- Explain the audit process, from planning until the signing of the audit report
- Include auditors’ legal liabilities
Why Choose Us for Auditing Services?
Bestar Consulting is one of the best auditing services in Malaysia. We link you with an external auditor to help strategize your fiscal position, identify potential risks, and provide you with an accurate picture of your financial standing.
We make sure that all your systems and procedures across different verticals are working efficiently while complying with the statutory and regulatory requirements in Malaysia.