How long does a Malaysian statutory audit take?
The law sets no audit duration, only the end deadlines: accounts must be circulated within six months of year-end and lodged within 30 days after. How long fieldwork takes depends on company size, record quality and how fast you respond.
No fixed duration. Neither the Companies Act nor SSM sets a number of days for an audit. What the law fixes is the overall timetable:
- financial statements prepared within six months of year-end (section 248(1)(b));
- circulated to members within six months of year-end for a private company (section 258);
- lodged with SSM within 30 days after circulation (section 259).
So, for a 31 December year-end, circulation is due by 30 June and lodgement by about 30 July if circulated on the last day.
What drives the time
- Size and number of transactions.
- Whether books were closed and reconciled before fieldwork starts.
- Stock, fixed assets, group structure, related-party dealings.
- First-year audits (opening balances).
- Auditor workload at peak season. SSM has noted the high ratio of companies to approved auditors, which strains deadlines.
- How quickly management supplies documents and answers queries.
A sensible plan
- Appoint the auditor well before year-end.
- Close the books and reconcile bank accounts before fieldwork.
- Agree a timetable in writing with milestones for draft accounts, queries and sign-off.
- Leave a buffer before the six-month deadline for board approval and signing.
If the deadline will be missed, ask SSM for an extension before the 30-day lodgement period expires (section 259(2)).
Legal basis
- Companies Act 2016, ss.248, 258, 259
Sources
- Companies Act 2016, section 258 - Time allowed for sending out copies (annotated text)
- Companies Act 2016, section 259 - Duty to lodge financial statements with the Registrar (annotated text)
- Companies Act 2016, section 248 - Directors shall prepare financial statements (annotated text)
- SSM FAQ Part Q: Audit Exemption (19 March 2025)
Applies to 2026 · Last reviewed 29 October 2026
General information for business owners, not legal, tax or professional advice. Rules change, so check the sources or ask a licensed professional before you act.
Related questions
- What must an audit-exempt company still lodge with SSM?It must lodge unaudited financial statements, the directors' report, statement by directors, statutory declaration and a director-signed exemption certificate, within 30 days of circulating the accounts to members. Accounts must follow approved accounting standards.
- How is the auditor reappointed each year in a private company?Members appoint the auditor by ordinary resolution during the 30 days before the lodgement deadline for the previous year's accounts. If no one is appointed, the sitting auditor is usually deemed reappointed, unless members object or the constitution requires actual reappointment.
- What are the deadlines to circulate and lodge financial statements for a Sdn Bhd?A private company must prepare and circulate its financial statements to members within six months of its financial year-end, then lodge them with SSM within 30 days of circulation. The first accounts may cover up to 18 months from incorporation.
- Does a Sdn Bhd have to hold an annual general meeting (AGM)?Under the Companies Act 2016, the AGM requirement in section 340 is written for public companies. A private company circulates its financial statements to members within six months of year-end and is not required by that section to hold an AGM, unless its constitution says otherwise.
- Does every Sdn Bhd in Malaysia need to be audited?Not every one, but audit is the default. Section 267(1) of the Companies Act 2016 requires a private company to appoint an auditor for each financial year, unless it qualifies for and elects the audit exemption set by SSM's Practice Directive 10/2024.