How to be Auditor in Malaysia?

Public Practice – Step by Step

“Can I sign Account”

This is the most typical translated from Chinese sayings that I hear from parents whenever they enquire about the ACCA course.

What exactly they mean by “signing the account” is actually becoming an Auditor, and issuing an Audit Opinion.

You can see an example of an extract of an independent auditor’s report taken from Public Bank Berhad’s 2021 Annual Report.

You would be able to see at the bottom, where an arrow has pointed to, the name of Dato Megat Iskandar Shah. He is the Chartered Accountant, signing this auditor’s report and he is a chartered accountant or more often being called as, Audit Partner from Ernst & Young PLT. (EY)

There are 4 largest public practice in Malaysia, very often referred to by many as (in alphabetical order)

Deloitte
EY
KPMG
PWC

How to be an auditor?

So, now you aspire to an auditor. What exactly you want, is to be a Chartered Accountant and apply for a Public Practice License.

Most Accounting students or graduates would call them as “Audit Firm” while a more glamourous name is Public Accounting Firm or Public Practice Firm.

Do you wish to run your own practice? That is to be your own boss and sign the auditor report?

Steps:

These are the basic steps:

You need to be admitted as MIA member as a Chartered Accountant
Attend Public Practice Programme (training course)
Apply for Audit Approval and Passed Audit Approval Interview

In More Detail:
To be admitted as MIA member, you need to have 2 ingredients. The Right qualification + 3 years of relevant practical accounting experience.

What would be the relevant qualification?

Recognized local universitiy accounting degree or
Member of a recognised professional body (eg: ACCA Member) or
Passed MIA Qualifying Exam (this usually for degree from overseas university and they have to sit for QE and pass 4 more papers)

To apply for Audit Approval, you need 5 years of accumulative working experience on full time basis, which can be either pre or post MIA membership. (Min 3 years in audit practice with 1 year in audit supervisory role)

Why Professional Body Membership?

You will gain a competitive edge when you become a member of a recognised professional body – like ACCA, ICAEW, because of its international recognition. Therefore, your qualification will be recognised worldwide. It is an assurance of your skills, competencies and recognition.

Start your ACCA journey today.

Speak to Genesis Origo if you need to know more about ACCA.

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