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Forensic Audit Services in Malaysia


What Is Forensic Auditing?

The term covers a broad range of activities. In general, forensic auditing refers to the investigative effort undertaken by accountants. What happens is the accountants will take a deep dive into a company’s financial matters. If there is suspicion of fraudulent activities taking place, Forensic Audit Services in Malaysia are engaged to explore the matter. This includes the possibility of having to act as an expert witness if a company needs to go to court. You should not confuse this with the annual Statutory Audit Services in Malaysia which are a requirement for every company in Malaysia. You need to engage the right Forensic Audit Services in Malaysia team for the job.

The types of fraud involved in this kind of investigation includes:

  • Corruption
  • Misappropriation of assets
  • Falsifying financial statements

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The Scope of Forensic Audit Services in Malaysia

Special audits can be done even if there are no suspected fraudulent activities going on. The special audit services may be engaged to help sort out other financial related matters too. This includes any financial disputes relating to the closure of the business. Matrimonial disputes also fall under this category via insurance claims.

Essentially, it is the job of the forensic team to uncover any evidence of suspected fraud. They will need to gather the relevant evidence and conduct an audit of the company’s finances. The audit process will involve the following steps:

  • Gather evidence.
  • Reviewing of the evidence.
  • Reporting back to the client.


In terms of the Statutory Audit Services in Malaysia, this part of the process involves:

  • An internal review of the company’s controls.
  • Compiling, auditing, and reviewing financial reports and any other financial statements.
  • Assessing the risks and recommendations.
  • Evaluating the accounting estimates and gauge the feasibility.


In the event the fraud has taken place, the following steps must be taken:

  • Identifying all parties involved.
  • Quantify the amount involved in the fraud, including any financial loss on the client’s part.
  • Present findings to the relevant parties, which are the client and the court.


Audit techniques are used to gather evidence. In this step, the process involves gathering evidence of:

  • The length of time the fraud has been taking place.
  • How the fraud was carried out.
  • How the fraud was hidden by the perpetrators.


The team in charge of Forensic Audit Services in Malaysia will also need to collect evidence to be used for the court case.

  • What the suspect’s motives were.
  • Whether there was collusion involving several suspects.
  • Physical evidence collected from the scene of the crime (if any).
  • Documents of the crime (if any).
  • Attempts to get rid of the evidence.
  • Any comments the suspect made at the time of arrest.


What the Statutory Audit Services in Malaysia Process Involves and Do You Need It?

All companies incorporated in Malaysia will be required to audit their financial matters. Additionally, they will also be required to engaged a company offering Statutory Audit Services in Malaysia too. This is to examine if a business’s financial statements are compliant with the reporting standards stipulated in the Companies Act 2016.


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