Our Services
Audit & Assurance
Types of Audit & Assurance Services that we provide:
- Statutory Audit, required by Malaysian Companies Act, 2016.
- Due Diligence Audit, normally prepared before purchasing or investing in an existing business.
- Agreed Upon Procedures.
- Reporting Accountants.
- Grant Audits.
- Compilation Exercise.
Recent changes in regulations have introduced new audit exemptions that affect certain types of companies. The introduction of audit exemptions for small companies in Malaysia reflects a significant shift to support the growth of small and medium-sized enterprises (SMEs). Businesses should assess their eligibility for these exemptions while understanding the importance of maintaining accurate and reliable financial records.
While audit exemptions can reduce compliance costs for small companies, the benefits of undergoing audits can greatly outweigh those savings. Audits contribute to the overall health of the business ecosystem by fostering trust, enhancing performance, and ensuring that companies are well-positioned for future growth.
The conventional audit approach primarily emphasizes numerical data and accounting issues, operating under the assumption that business processes, information technology infrastructure, and organizational structures remain static. However, achieving success in today’s dynamic and complex business environment in the Asia Pacific necessitates the ability to navigate rapidly changing conditions. Consequently, an audit firm in Malaysia must adopt a comprehensive systems perspective. At DK & Co., we tailor our audit methodology to align with the unique size, nature, and internal controls of our clients’ businesses.
Contact our team of professionals, and we can customize our services to meet your business needs.
Online Accounting solution and bookkeeping services
Managing bookkeeping can be a time-consuming responsibility for business owners, and falling behind is a common challenge. Discover hassle-free bookkeeping services with our professionals, your go-to accountants. We simplify financial tasks for businesses, ensuring accuracy and compliance.
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Effortless Data Collection
Tax-Efficient Completion
Tax Compliance & Advisory
- Preparing tax returns and computations for submission to the tax authoritie
- Preparing and advising on submission of return of original/revised estimated tax payable and compliance requirements in relation to the amount of the estimated tax.
- Liaising with the tax authorities with regards to tax appeals, enquiries and refunds.
Juggling your finances as a company or self-employed individual can be challenging, especially when it comes to the complexity of filing self-assessment tax returns. The process might seem overly complicated, and you may not want to spend too much time on it. The experts at our affiliate company, Taxbee Pro Services offer self-assessment tax return services and cater to a variety of needs, from corporate tax return services to individual tax return services. Our team ensures your tax returns are handled professionally to avoid penalties or fines.
We assist businesses and individuals, including the self-employed, contractors, designers, builders, landlords, health and wellbeing professionals, hair and beauty service providers, hotel and restaurant owners, transport and logistics vendors. Taxbee is your go-to for local tax accountants who provide comprehensive tax preparation services and tax assistance services tailored to your needs.
Tax planning is a crucial strategy that assists our clients in effectively managing their cash flow and minimizing their tax liability. By utilizing the latest tax exemptions and benefits, we can help structure their financial plans more efficiently.
As an audit and tax firm, we assist in applying for pioneer tax status and relevant tax incentives. We also have a team of experts that support you in navigating interactions with various government agencies, including the Inland Revenue Board, the Ministry of Finance, and Bank Negara Malaysia. The Ministry of Industry Trade & Industry, and the Malaysian Industrial Development Authority.
Under the Self Assessment System, tax audits are a key activity for tax authorities, aimed at promoting voluntary compliance with tax laws and regulations. Taxpayers may be selected for audits at any time to verify that the tax amounts reported and paid are in line with legal requirements. In contrast, tax investigations are a more serious enforcement action taken by tax authorities to ensure taxpayer compliance with tax legislation.
Through our regular professional interactions and positive relationships with tax authorities, we at DK &CO., a tax auditing firm, can effectively resolve tax audits and investigations in a smooth and efficient manner. This approach helps minimize stress and may lead to reduced taxes and penalties. We offer the following tax audit and investigation services:
- Responding to inquiries and assisting with reconciliations, computations, and supporting schedules required by tax authorities.
- Aiding in the review and appeal process on valid grounds to reduce taxes and penalties.
- Enhancing communication by participating in meetings and discussions to achieve an amicable resolution with tax authorities.
- Preparation of Capital Statements
Recently, the Inland Revenue Board (IRB) has increased the frequency of transfer pricing audits in Malaysia to closely examine the arrangements between associated enterprises and ensure compliance. Additionally, there is a common misconception that transactions between associated enterprises may not accurately reflect market dynamics, as these entities can influence each other.
Our team of transfer pricing experts is able to provide the following services:
- Transfer pricing documentation and benchmarking analysis
- Transfer pricing review
- Transfer pricing audit
Indirect taxes, such as sales tax, service tax, and customs duties, can significantly impact the profitability and cash flow of businesses. It is crucial for companies to manage their exposure and risks related to indirect taxes to avoid unnecessary penalties and fines from improper submissions and declarations.
At DK & Co, we offer support in applying for indirect taxes with the authorities, ensuring compliance and planning, assisting with any applications for tax refunds or exemptions, and handling queries and communications with the authorities.
E-Invoice Service Provider
Invoices are generally seen as requests for payment, but preparing and submitting physical invoices can be quite cumbersome. With the introduction of electronic or e-invoices, which are created, delivered, and extracted in a structured format that allows for automated evaluation. When implemented effectively, setting up a digital transaction exchange between buyers and suppliers can be a straightforward process, especially with the assistance of a reliable digital invoice provider.
A well-formatted e-invoicing system that is fully operational can automatically transfer easily interpretable information from the seller into the customer's accounts payable (AP) system, minimizing the need for tedious manual data entry. Additionally, this approach can greatly reduce billing and calculation errors, facilitating quicker payments and decreasing the number of complaints related to discrepancies. To ensure effective functioning of e-invoices, collaboration with an e-invoicing service provider is essential.
Other Affiliate Services
Our affiliate firms provide comprehensive company secretarial services to meet all your compliance needs in one place. Generally, their scope of work includes:
- Preparing and submitting all forms required by the Companies Act to the Companies Commission of Malaysia (CCM).
- Drafting documents and notes for Board Meetings as needed by the Directors.
- Organizing the Annual General Meeting once a year, if requested by the shareholders.
- Submitting Audited Financial Statements or Statements of Financial Position of the Company to CCM.
- Conducting independent reviews of externally reported information.
- Preparing accountants’ reports.
- Payroll calculation and net salary payment arrangement
- Calculation of monthly deductions ( EPF, SOCSO & EIS )
- Preparation of monthly payslips
- Preparation of yearly EA forms for all staff
Our affiliate firms provide comprehensive company secretarial services to meet all your compliance needs in one place. Generally, their scope of work includes:
- Preparing and submitting all forms required by the Companies Act to the Companies Commission of Malaysia (CCM).
- Drafting documents and notes for Board Meetings as needed by the Directors.
- Organizing the Annual General Meeting once a year, if requested by the shareholders.
- Submitting Audited Financial Statements or Statements of Financial Position of the Company to CCM.
- Conducting independent reviews of externally reported information.
Preparing accountants’ reports