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TITLE: 77/2018: Audit Partner Rotation Requirements in Malaysia

DATE: 26/09/2018

26 September 2018
Circular No. 77/2018

TO ALL ACCOUNTANTS

AUDIT PARTNER ROTATION REQUIREMENTS IN MALAYSIA

The Institute is pleased to announce the issuance of Questions and Answers on Audit Partner Rotation Requirements in Malaysia.

Audit partner rotation requirements will change for periods beginning on or after 15 December 2018. The changes will affect Key Audit Partners (KAPs) of Public Interest Entities (PIEs). KAPs can be classified as Engagement Partners (EPs), Engagement Quality Control Review (EQCR) Partners and other Key Audit Partners.

There will be an increase in the time allowed for an audit partner of a PIE to serve in the same role for a maximum of seven years. The change will also see an increase in the time required for an audit partner of a PIE to cool-off if they are either an EP or the EQCR Partner.

This document provides answers to questions that the Staff of the Institute commonly receive from auditors on the revised partner rotation requirements in Malaysia.

This document is available HERE.

Thank you.

DR. NURMAZILAH DATO' MAHZAN
Chief Executive Officer

Description: Audit Partner Rotation Requirements in Malaysia
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