THE Companies Commission of Malaysia (CCM) has issued a consultative document proposing that the threshold for companies to be exempted from a mandatory audit be increased from the current threshold of RM100,000 for revenue and RM300,000 for assets to RM3mil for both revenue and assets.
However, the pace of the implementation of this change needs to be measured to alleviate the shock to the audit industry. The consultative document does not make much mention of the impact on the industry.
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