Frequently Asked Question
When does a company need to submit the audited report to CCM?
A company in Malaysia has to circulate the audited reports to the board of directors within 6 months and submit it to the SSM within 7 months after the financial year end period.
Is it compulsory to submit the audit report to CCM?
Yes. Pursuant to section 172 of the Malaysian company law 2016, a company is required to submit an annual audit report to the CCM within 7 months from the end of its financial year. Failing to do so may result in penalties.
What is the penalty if an audit report is not submitted?
There are two forms of penalties needed to pay if the audit report is not conducted and submitted within the stipulated period. If the report is not circulated within 6 months of year end period, CCM will impose a penalty up to RM50,000. Secondly, late submission fees have to be paid if the report is not submitted within 7 months of the financial year end period.