Top 7 Cost-Effective Audit Firms in Malaysia for Small Businesses

Managing finances is a crucial part of running a small business. Tax compliance, financial reporting, and audits are necessary but can be complex and time-consuming. Many small businesses struggle with these tasks due to limited resources or expertise.

Hiring a full-time accountant or in-house audit team can be expensive. This is why outsourcing to a reliable and cost-effective audit firm in Malaysia is a practical solution. These firms help businesses stay compliant, manage risks, and improve financial transparency while keeping costs under control.

This guide covers seven affordable audit firms in Malaysia that offer high-quality services tailored for small businesses. Each firm has been selected based on affordability, reliability, and service offerings.

Why Small Businesses Need an Audit Firm

Auditing is not just about meeting legal requirements. It helps businesses maintain financial accuracy, gain investor trust, and optimise tax planning. Here are the key reasons why small businesses should consider hiring an audit company in Malaysia.

Ensures Regulatory Compliance

Malaysian law requires all private limited companies (Sdn. Bhd.) to conduct an annual audit. A professional audit firm ensures that financial reports comply with the Companies Act 2016 and other regulations.

Provides Financial Transparency

Accurate financial statements build trust with investors, banks, and stakeholders. Audited accounts demonstrate that a business is well-managed and financially stable.

Reduces Tax Risks

Tax laws in Malaysia can be complex. An audit firm helps small businesses avoid penalties by ensuring accurate tax filings and compliance with tax regulations.

Prevents Financial Mismanagement

Regular audits help detect fraud, errors, or inefficiencies in financial processes. Identifying and fixing issues early prevents losses and strengthens financial stability.

Saves Time and Costs

Instead of handling complex audits internally, outsourcing allows business owners to focus on growth. Many firms offer affordable audit services without compromising on quality.

Top 7 Cost-Effective Audit Firms in Malaysia

1. TN Advisory 

TN Advisory is a well-established audit firm in Malaysia, that provides cost-effective tax and audit services for small businesses. They specialise in tax audits, financial compliance, and bookkeeping, helping businesses streamline financial operations and reduce costs. Their team consists of certified tax advisers and auditors who assist businesses in navigating Malaysia’s complex tax landscape.

Key Services:

• Tax Audit Services – Ensures compliance with Malaysian tax laws while identifying potential errors.

• Financial Audit & Assurance – Provides transparent and accurate audit solutions for businesses.

• Bookkeeping & Accounting – Manages financial records efficiently to support business growth.

• Payroll Services – Handles salary processing and tax deductions to simplify payroll management.

• Company Secretary Services – Assists in compliance with company regulations, including annual filings

2. L & Co. PLT

L & Co. PLT provides audit and financial services tailored for SMEs. Their services cover a range of industries, including manufacturing, retail, and professional services. With transparent pricing, they offer one of the most affordable audit solutions in Malaysia.

Key Services:

• Statutory Audits – Ensures companies meet financial reporting obligations.

• Accounting & Bookkeeping – Helps businesses maintain accurate financial records.

• Business Consultation – Advises on financial strategies to improve cash flow.

3. Wezmart International Berhad

Wezmart International Berhad is known for combining technology and financial services to provide efficient audit solutions. Their digital approach makes auditing and financial reporting more streamlined and cost-effective for SMEs.

Key Services:

• Financial Audit – Ensures financial statements comply with regulations.

• Tax Compliance – Helps businesses meet tax obligations with proper documentation.

• Digital Accounting Solutions – Uses technology to simplify financial management.

4. YH Tan & Associates PLT

YH Tan & Associates PLT has been offering professional audit services for more than 30 years. They focus on affordable and transparent pricing to support SMEs in managing financial compliance effectively. Their expertise spans across different industries, from retail to technology startups.

Key Services:

• Audit & Assurance – Ensures financial records are accurate and compliant.

• Financial Reporting – Prepares financial statements for better decision-making.

• Taxation Services – Helps businesses manage corporate tax obligations.

5. Chengco PLT HQ

Chengco PLT is one of Malaysia’s leading audit firms, providing cost-effective financial solutions for SMEs. Their services include statutory audits, forensic audits, and business valuation, making them a suitable option for small businesses looking for reliable and affordable financial expertise.

Key Services:

• Statutory Audits – Ensures businesses meet audit regulations.

• Forensic Audits – Identifies and prevents financial fraud.

• Business Valuation – Assists companies in financial forecasting and investment planning.

6. SJ & Co. PLT

SJ & Co. PLT is a trusted audit firm in Malaysia offering auditing, taxation, and advisory services at competitive rates. Their small team provides personalised support, making them a great option for small businesses that need tailored financial solutions.

Key Services:

• Audit & Assurance – Provides compliance support for financial reporting.

• Tax Filing & Advisory – Helps SMEs manage corporate taxes efficiently.

• Business Advisory – Assists with financial planning and business structuring.

7. Wanconnect Advisory PLT

Wanconnect Advisory PLT offers cost-effective audit solutions with a focus on SMEs and startups. Their experienced team of accountants, tax agents, and auditors provides a range of financial services that help businesses manage compliance efficiently.

Key Services:

• Audit & Financial Assurance – Helps businesses meet audit regulations.

• Tax Consultancy – Assists in tax planning and compliance.

• Company Secretarial Services – Supports businesses with corporate governance.

How to Choose the Right Audit Firm for Your Business

Selecting the right audit company in Malaysia is an important decision. Here are key factors to consider before hiring an audit firm:

Experience in Your Industry

Some audit firms specialise in certain industries. Choose a firm that understands your business sector to get relevant financial advice.

Transparent Pricing

Audit costs can vary. Look for a firm that provides clear and affordable pricing without hidden fees.

Professional Certifications

Ensure the firm is registered with the Malaysian Institute of Accountants (MIA) and follows regulatory standards.

Client Reputation

Check online reviews, testimonials, or referrals from other small businesses to gauge the firm’s credibility.

Final Thoughts

Hiring an audit firm in Malaysia is essential for small businesses that want to stay compliant, improve financial management, and avoid unnecessary tax penalties. The seven firms listed above provide cost-effective auditing solutions without compromising quality.

By outsourcing audit services to a professional firm, business owners can focus on growth while ensuring financial compliance. With the right audit partner, businesses can build financial stability and long-term success.

audit firms in Malaysia