ANNOUNCEMENT 29 Dec 2017

In December 2017, the Malaysian government announced the Securities Commission Malaysia (Audit Oversight Board) (Fees) Regulations 2017.

The act, which comes into force on 2 January 2018, introduces higher fees for the applications of foreign audit firms seeking to become recognised in Malaysia.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Securities Commission Malaysia, (Audit Oversight Board) (Fees) Regulations 2017, P.U.(A) 448/2017. Available at: https://www.sc.com.my/wp-content/uploads/eng/html/resources/acts/PU_(A)_448_2017.pdf

Inception date: 02 Jan 2018 | Removal date: open ended
Still in force

FDI: Entry and ownership rule

In December 2017, the Malaysian government announced the Securities Commission Malaysia (Audit Oversight Board) (Fees) Regulations 2017.

The act introduces higher fees for the applications of foreign audit firms seeking to become recognised in Malaysia. Under the act, foreign individuals and firms will incur a fee of MYR 8,000 (USD 1,962) for the application or renewal of registration to be a registered auditor in Malaysia. Previously, the fee was MYR 5,000 (USD 1,226).

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