A tough test for audit industry

Value for money: Nor Azimah says audit must be purpose-driven and market-driven and there must be value to what companies are paying for. — Bernama

With audit exemption here to stay, small accounting firms must change.

NOW that the Companies Act 2016 exempts certain private companies – mainly dormant and small ones – from having to appoint auditors, the audit industry should rise to the challenge by finding other ways to remain relevant to the SME sector.