Audit Fee Schedule & Table

Malaysian Institute of Accountants (MIA) has recommended a Practice Guide on Audit Fee Charges (New Audit Fee) by Audit Firms for providing auditing services in Malaysia with effect from 1 March 2010.

This recommendation shall be constituted as the new guideline for all audit firms in Malaysia charging their clients slightly increased fees over the audit assignments conducted.

Gross Turnover or Total Assets Basis (RM)Cumulative Ringgit (RM)Rate
(%)
Fees (RM)Cumulative fees (Exclusive of SST 6%)(RM)
Dormant800800
The first 100,000100,0001.200%2001,200
The next 150,000250,0000.438%6571,857
The next 250,000500,0000.313%7832,640
The next 500,0001,000,0000.188%9403,580
The next 1,500,0002,500,0000.125%1,8755,455
The next 2,500,0005,000,0000.100%2,5007,955
The next 5,000,00010,000,0000.094%4,700 12,655
The next 10,000,00020,000,0000.100%10,00022,655
Above 20,000,000Negotiable>22,655
Table 1: Gross Turnover or Total Assets Basis
Total Operating Expenditure for every ringgit of (RM)Cumulative Ringgit (RM)Rate (%)Fees (RM)Cumulative Fees (Exclusive of SST 6%) (RM)
The first 50,000 50,0002.500%1,2501,250
The next 150,000200,0001.125%1,8753,125
The next 800,0001,000,0000.625%5,0008,125
The next 1,000,0002,000,0000.250%2,50010,625
Above 2,000,0000.125%Negotiable>10,625
Table 2: Total Operating Expenditure Basis

**The main features of the above Audit Fee Table extracted from the Malaysia Institute of Accountants serves as a guideline only. The final audit fee to be charged will be determined after due discussion and agreement with the respective client. 

2. Total Operating Expenditure Basis

In consideration of the Competition Act (CA) 2010, the Council has deliberated and decided to withdraw RPG 7 in order to uphold the spirit of the CA 2010 and not breach any of its provisions.

 


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