Registration Fee for Audit Firms Undergoing Merger
9 April 2013   |   Kuala Lumpur
The Securities Commission (Audit Oversight Board) (Fees) (No. 2) (Amendment) Regulations 2011 requires an individual auditor who is registered as auditor under section 31O of the Securities Commission Act 1993 to pay a fee of RM 5,000. Consequently, an individual auditor who is registered under more than one audit firms will have to pay registration fees based on the number of audit firms where he is a partner of.

In enhancing capacity and to improve audit quality, some audit firms may consider merging. The merger process usually involves the creation of a new entity which will assume the consolidated business of the firms involved.

In such case, individual auditors who are partners of audit firms undergoing merger process are required to pay multiple registration fees. To support capacity building of audit firms, the AOB will be providing concession where individual auditors who are partners of audit firms undergoing merger to be considered as single individual auditors for the purposes of the collection of registration fees for a period to be determined by the AOB.

In determining whether such concession may be accorded to the relevant individual auditors, audit firms embarking on a merger must submit the following –

  1. Relevant agreements pertaining to the merger;
  2. Implementation plan incorporating timelines where the merger should commence no longer than six (6) months from the date of the application for the waiver; and
  3. The time for completion of the merger should be within a reasonable timelines to be agreed by the AOB.
This provision is effective from the date of this announcement.


about the SC
The Securities Commission Malaysia (SC) was established on 1 March 1993 under the Securities Commission Act 1993 (SCA). We are a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market.

General Line: +603-6204 8000
General Email: [email protected]
© Copyright Securities Commission Malaysia.  Contact Us   |    Disclaimer   |   The site is best viewed using Microsoft Edge and Google Chrome with minimum resolution of 1280x1024
Generic Popup