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Under the Malaysian Companies Act 2016 (Section 267), all incorporated private companies (Sdn Bhd) are legally required to appoint an approved company auditor to audit their annual financial statements, unless they qualify for and elect audit exemption under SSM Practice Directive 3/2017 (dormant, zero-revenue, or threshold-qualified micro entities). Banks, government agencies, and tender boards typically mandate audited accounts regardless of exemption status.

For a company with a December 31 Financial Year End: Financial statements must be circulated to members within 6 months (by June 30) and lodged with SSM within 30 days of circulation. Form C tax returns must be submitted to LHDNM within 7 months (by July 31), with standard 1-month e-filing extension available up to August 31.

LHDNM has mandated phased e-Invoicing across all businesses in Malaysia. Every transaction (B2B, B2C, B2G) must be validated in real-time through the MyInvois Portal or API. Expenses without validated e-invoices may not qualify for corporate income tax deduction under Section 33(1) of the Income Tax Act 1967. Our practice assists in workflow auditing and ERP readiness.

In strict compliance with the Malaysian Institute of Accountants (MIA) By-Laws on Professional Ethics, N. Param & Co (AF 1567) performs independent financial assurance alongside separate taxation and advisory services under segregated ethical controls and quality management standards (ISQM 1).