Financial Statement (Audited)
You will need to hire an actual certified auditor to come in and prepare these documents for you. They will need to have a look at your management accounts and your bookkeeping records for that financial year.
You need to ensure that you keep a very close eye on all the receipts and transactions because they will be used to balance out your financial statements. An error there will cause your numbers to be unbalanced and may subject you to an inquiry by the government.
Your failure to comply with this requirement is an offence that is punishable with a fine not exceeding RM 5000 or an imprisonment for a term not exceeding one year or both.
These offences are really serious and we want to make sure that you never get caught in a situation like that ever. SSM has released a new tool called MBRS – which helps companies submit their annual reports online. MBRS will be mandatory for all companies to use when it comes to submitting these documents in the next year.
