The Legal Framework Governing Company Auditors under the Malaysian Companies Act 2016

Chang Chee Fei and Ng May Yee

No fxyuc_v1, LawArchive from Center for Open Science

Abstract: This article examines the comprehensive legal framework governing company auditors in Malaysia under the Companies Act 2016. It analyses the approval and qualification requirements for auditors, the distinct appointment rules applicable to private and public companies, and the mechanisms for determining auditor remuneration and disclosing nonaudit services. The article further explores the statutory reporting duties of auditors, including the obligation to provide qualified audit reports where financial statements deviate from approved accounting standards. It considers the privileges and rights conferred upon auditors to facilitate the diligent discharge of their duties, including qualified privilege against defamation claims and rights of access to company records. Additionally, the article addresses auditors' obligations to debenture holders and their mandatory attendance at annual general meetings. Finally, it examines the statutory procedures governing resignation and removal of auditors before the expiration of their term, highlighting the safeguards designed to protect auditor independence and ensure corporate accountability.

Date: 2026-10-15
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Persistent link: https://EconPapers.repec.org/RePEc:osf:lawarc:fxyuc_v1

DOI: 10.31228/osf.io/fxyuc_v1

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