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Audit approach
Designing a tailored audit programme customised for your business, we will combine the collective skill and experience of assurance professionals around the world to deliver an audit that is efficient and provides assurance to your key stakeholders.
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Audit methodology
We have adopted Grant Thornton International's Horizon audit approach and Voyager software, a revolutionary paperless audit designed to achieve a consistent standard of audit service.
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MFRS
At Grant Thornton, our MFRS advisers can help you navigate the complexity of financial reporting.
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Our local experts
Our local experts
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Tax advisory & compliance
Our teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
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Corporate & individual tax
Our teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
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International tax & Global mobility services
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
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Indirect tax
Our indirect tax specialists help clients in effective planning; assist to bring clarity to the legislation; assist and advise in audits or investigations. It is important for all entities, whether or not required to register for Sales Tax or Service Tax to analyse the impact of the taxes on their business operations, their revenues and expenses, and their customers and suppliers.
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Tax audit & investigation
Tax audit and investigation
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Transfer pricing
Transfer pricing
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M&A, Restructuring & Forensics
Forensic
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Corporate finance
Whether you are raising capital, disposing of a business or seeking a wider market for your company's shares on a stock market, we are ready to help make it a successful and stress-free experience for you.
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Business risk services
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
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Recovery and reorganisation
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
Mitigating MCO Effects on Unemployment and Poverty
Dato NK Jasani, Country Managing Partner of Grant Thornton Malaysia PLT comments:
KUALA LUMPUR, 27 April 2020: The Government had announced recently on the extension of the Movement Control Order for another two weeks till 12th May. This adds up to a total of eight weeks of MCO period.
This long MCO period is already showing serious detrimental effects on the consumption recovery trends and Rakyat now fear and have real job losses and salary cuts.
Businesses affected by the MCO will take at least one year to recover. Even with help from the Government such as subsidies from the Economic Stimulus Packages, deferring of EPF payments, a six-month moratorium on loan repayments, it is unfortunately still not enough for businesses to survive. What businesses need is income.
As mentioned earlier, EPF could certainly do more for the cash flow of Employers and thereby preserving Employment in these critical times. The option of freezing EPF payments from both Employers and Employees for 6 months, ie. from April to September 2020 could ease the burden of many businesses and will be the make or break for the survival of marginal companies and their employees.
Delaying or deferring EPF payments will not solve these serious cash flow problems. The reason being that after the short period of postponement the Employers will have to pay double the amount.
We are already seeing the impact of the pandemic such as closures plus retrenchments and downsizing of workforce. An example would be the five decades strong garment group, Esquel Malaysia. This garment group has factories in Penang and Kelantan and employs more than 3,000 workers, which all are going to be retrenched. There will only be more to come if businesses can’t open its doors for operation.
The Government should therefore allow offices, shops and factories to resume operations after 12th May 2020, even if an extension of the MCO is in place, with all the required precautions.
However, with all the required precautions, offices, factories and shops should be allowed to operate. These strict precautions to include daily temperature checks, using sanitizers, washing hands, wearing face masks, anti-virus fogging and social distancing.
Companies must also use video conferencing for meetings and report and act immediately on any health concerns. The business concerns must be strictly held accountable but be allowed to operate under the stipulated conditions. If there is a delay in implementing the above, we will have numerous business failures, high unemployment and growing pockets of poverty.
To ensure there is no new spread of Covid-19, all the restaurants, coffee shops, schools, universities and religious places could still be closed for a longer time. Additionally, not to allow any events where there could be gathering of people like night or Ramadan markets.
Under the leadership of the Director-General, the Ministry of Health has been doing great efforts on reducing new cases. At the same time, the Government has taken a much more focused approach of testing and treating the high clusters areas.
The nation applauds the great work of the Director-General, his team and all the front liners. We hope that our current situation will continue to improve and that we will all overcome this testing time together.
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Further enquiries, please contact:
Charmane Koh
Senior Manager, Corporate Affairs
Grant Thornton Malaysia PLT
T: +603 2692 4022
M: +017 3384563