Top Accounting And Tax Companies in Malaysia

The accounting industry in Malaysia has experienced significant growth and success in recent years, with various factors contributing to its success. In this article, we will delve into key statistics from 2022, including GDP and employment, factors contributing to the industry's growth and success, including government initiatives, each industry's growth and comparison to previous years, key trends, including technological disruptions, challenges, and future outlook.

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PITCHER PARTNERS1,481 +61 3 8610 5477

Accounting and business advisory experts sharing insights about issues impacting family-controlled and privately owned businesses, high net-worth individuals, the public sector and NFP organisations.Pitcher Partners is an association of independent full service accounting, audit and advisory firms with a long standing reputation for providing superior expertise and advice to clients with a particular focus on the middle market. In fact, when we formed in 1991, we did so with the specific goal of providing services to these middle market businesses who we believed then and still believe today deserve the best possible accounting and advisory services.Now, with more than 140 partners and 1300 staff across the association, we have resources and depth of technical expertise few can match. We are large enough to meet the challenges presented by our clients, regardless of their size or location, but have retained the ability to maintain close and personal involvement with them and with each other.Several Pitcher Partners partners and directors are represented on high profile committees where we particularly represent and advocate for the interests of the middle market.

KLP LLP34 +65 6227 4180

At KLP, we perceive ourselves as a catalyst of success. The road to business success has many pitfalls and traps that many may not be aware of. We position ourselves as the professionals in assisting our clients to operate their businesses efficiently and effectively through good disciplines in accounting, financial control and compliance. This will afford our clients to concentrate fully on the business they know best.We perceive ourselves as modern accountants where understanding our clients businesses and providing innovative solutions to their problems are part and parcel of our duties. Through our association with JHI International, we are able to keep our clients abreast of trends, opportunities and regulations in the global marketplace.Established in early 1999, KLP is a certified public accounting firm, serving over 300 clients from range of industries locally, and across the region. Our clients include SMEs and listed companies.

BAKER TILLY SINGAPORE272 +65 6336 2828

Baker Tilly in Singapore ranks among the top 10 largest accounting and business advisory firms locally. Our expert team provides a comprehensive range of services to businesses, including assurance, tax, deal advisory, governance and risk, restructuring and recovery, outsourcing, and corporate secretarial services. Our diverse client base ranges from family-owned businesses to listed companies and multinational organisation operating in a variety of sectors.

BAKER TILLY US6,622 +65 6336 2828

Baker Tilly US, LLP (Baker Tilly) is a leading advisory CPA firm, providing clients with a genuine coast-to-coast and global advantage in major regions of the U.S. and in many of the world’s leading financial centers – New York, London, San Francisco, Los Angeles and Chicago. Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 145 territories, with 41,000 professionals and a combined worldwide revenue of $4.7 billion. For more information visit us at www.bakertilly.com.

BDO LLP SINGAPORE411 +65 6990 2838

BDO in Singapore is a full-service professional services firm providing audit, tax and advisory services. We have a long history of serving small and medium-sized enterprises (SMEs), large privately-held businesses and multinational companies across a broad spectrum of industries in Singapore. With a strength of over 550 employees, we offer a comprehensive range of services, including Audit and Assurance, Business Restructuring and Forensic Accounting, Cybersecurity, Tax Advisory, Risk Advisory, Business Advisory, Financial Risk and Governance, Management Consulting and Business Outsourcing Services. BDO LLP is an independent member firm of BDO International - the world’s fifth-largest accountancy network. We are part of a global brand and accounting network with over 1,713 offices across 164 countries.

BDO60,637 +65 6828 9118

BDO is the leading provider of professional services within the mid-tier of our profession. We are proud to deliver seamless client service, from 1658 offices in 167 countries, across the world. Our 91K+ professionals continuously transform our approach by embracing future-oriented technology and focusing on quality. Strategic decisions and investments made in recent years have further equipped the organisation with the global infrastructure and innovative solutions needed to deliver long-term value for our clients.As a purpose-driven organisation, we do better.

COMPLETE CORPORATE SERVICES - CCS53 +65 6221 9265

Complete Corporate Services is one of Singapore’s leading integrated business solution providers. We help companies manage their back-end functions while they concentrate on achieving the sustainable success they desire.Our company firmly believes in using innovative technology to offer uniquely tailored and pragmatic solutions to our clients.With our team of qualified professionals who are also dedicated in their work, we ensure effective and efficient service delivery.

CROWE8,881 +65 800 778 7879

Crowe LLP is a public accounting, consulting, and technology firm with offices around the world. Crowe uses its deep industry expertise to provide audit services to public and private entities. The firm and its subsidiaries also help clients make smart decisions that lead to lasting value with its tax, advisory, and consulting services, helping businesses uncover hidden opportunities in the market – no matter what challenges the markets present. Crowe is recognized by many organizations as one of the best places to work in the U.S. As an independent member of Crowe Global, one of the largest global accounting networks in the world, Crowe serves clients worldwide. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.

FOO KON TAN228 +65 6336 3355

Foo Kon Tan LLP is one of Singapore’s most established and respected accountancy practices. We can trace our roots to 1968 when the original firm was founded and known as Foo, Kon & Tan. Over the years, a dynamic and inspirational leadership team changed the firm’s structure to provide a holistic one-stop business and advisory solution to discerning clients. Today, ‘Foo Kon Tan’ (FKT) is the brand name under which Foo Kon Tan LLP, Chartered Accountants of Singapore, and its associated companies provide a full range of assurance, tax and advisory services to help clients navigate the ever changing dynamics of the business and regulatory environments in the domestic as well as global markets. We are amongst the top 7 accountancy practices in Singapore.FKT people are inspired to work together and are proud to identify ourselves as dedicated professionals delivering a full range of services tailored to the needs of our clients. Proactive teams, led by approachable partners, use insights, experience and fresh perspective to understand complex issues faced by clients to help clients overcome challenges, find workable solutions and unlock opportunities. We are interested in our clients, their challenges and their growth ambitions. Instead of coming with ready-made answers, we listen, ask intelligent and at times tough and probing questions, and engage clients in a wider business discussion. Clients get personal, hands-on services from partners and senior people who have been and continue to be the hall mark of the FKT client experience.We are a principal member of HLB International, a network of independent professional accounting firms and business advisers.

GRANT THORNTON SINGAPORE193 +65 9642 5657

Grant Thornton is a global network with over 60,000 passionate people in member firms across over 130 countries, with one common goal — to help organisations realise their ambitions in any environment. Businesses are facing unprecedented challenges. This demands a different type of adviser. One willing to go beyond what’s expected to deliver an experience that’s more personal, agile and proactive. Our whole team is dedicated to listening and helping businesses achieve their goals. And we mean everyone, from partner to staff. Bringing together global scale with local insight, teams at Grant Thornton focus on the real issues, engage collaboratively, and offer solutions that are both insightful and practical.

MOORE SINGAPORE104 +65 6329 2703

Moore Stephens LLP, Singapore provides specialist advice in tax, audit, assurance and advisory. At Moore Stephens, we strive to reflect our core qualities in all that we do – Relationships, Quality and Teamwork. We provide services to a diverse range of clients, from large corporations, listed companies to private businesses, entrepreneurs and individuals across a broad array of industry sectors.Established in Singapore for more than 30 years, Moore Stephens LLP, Singapore is part of the Moore Global accounting and consulting network comprising of over 30,218 partners and professionals, with 502 offices across 114 countries worldwide.Follow our company page for the latest updates, events, news and views from us, or visit our website for more information at www.mooresingapore.com

CPA AUSTRALIA1,344 +61 1300 737 373

Our core services to members include education, training, technical support and advocacy.Employees and members work together with local and international bodies to represent the views and concerns of the profession to governments, regulators, industries, academia and the general public.Our VisionOur goal is to partner with members, so they are prepared for today and tomorrow in a globally connected worldOur PurposeWe are partners for progress. Through trusted relationships we develop business professionals with tomorrow’s capabilities.WHAT IS A CPA?A Certified Practising Accountant (CPA) is a finance, accounting and business professional with a specific qualification. Being a CPA is a mark of high professional competence. It indicates a soundness in depth, breadth and quality of accountancy knowledge.CPAs are highly respected by employers and members. It provides members with an internationally recognised qualification as well as the opportunity to complete specialist training and continuing professional development (CPD).Find out more at cpaaustralia.com.au View our social media house rules www.cpaaustralia.com.au/terms/social-media-house-rules

ASF AUDITS80 +61 1800 327 872

SMSF Audit SpecialistsASF Audits is Australia’s preeminent independent auditor of Self Managed Super Funds. (SMSFs)Over the past 20 years we have refined all aspects of our business to simplify and streamline the audit process.From online audit management to electronic working papers the ASF Audits business model gives clients an efficient audit turnaround time without comprising any professional standards.Our qualified staff are trained to deliver clear and concise assurance on the compliance of each fund. At ASF Audits we solve problems; not create them. Every client has absolute transparency throughout the audit process. From time in audit, specific queries to on-line management and audit reports. The client is in control. We pride ourselves on providing a professional, timely and cost effective service to all of our clients.We provide a quality audit service in line with professional standards including ASQC1 and the new ASIC RG243. Registration of SMSF Auditors.

CROWE SINGAPORE123 +65 6221 0338

We are a full-fledged and one of the fastest-growing professional services firms in Singapore. Under our core purpose of being the firm of choice for growing businesses looking for high quality and personalized service, we assist clients in achieving their goals through audit, tax, advisory and outsourcing services. We have more than 150 professionals and staff in Singapore serving mid to large public-listed, multinational and private companies in various industries, making us well-positioned to deliver impeccable service and value to clients.We serve clients worldwide as an independent and highly integrated member of Crowe Global. Crowe Global is ranked among the top 10 global accounting networks with more than 200 member firms around the world.

GRANT THORNTON INTERNATIONAL LTD614 +65 9732 8936

We are Grant Thornton.Going beyond business as usual, so you can too.We invest in listening, building relationships and understanding your concerns to deliver an experience that’s more personal, agile and proactive. With 58,000 people in over 130 countries, our member firms provide the assurance, tax and advisory services, industry expertise and capability you need, wherever you need it. So, whether you’re growing in one market or many, looking to operate more effectively, managing risk and regulation, or realising stakeholder value, we can help you chart the path ahead.For further information, please visit www.grantthornton.global

GRANT THORNTON LLP (US)13,968 +65 6805 4110

Forget what you think you know about professional services. We go beyond what’s expected and help others do the same.Grant Thornton is the U.S. member firm of Grant Thornton International Ltd, one of the world’s leading independent audit, tax and advisory firms. That means our network has more than 60,000 professionals in more than 135 countries who are ready to help public and private organizations of all sizes take on today’s challenges. But what sets us apart isn’t just what we do – it’s how we do it. Here, we believe in making business more personal and building trust into every result. We’re collaborators – obsessed with quality and ready for anything – who understand the value of strong relationships. It’s how we challenge the expectations of business and empower our people and clients to do it, too. One thing we won’t do? Grant Thornton LLP will never request money or any form of payment for services via social media. Please report any concerns at 1-800-810-3503.Grant Thornton” refers to Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. Services are delivered by the member firms. GTIL and its member firms are not agents of, and do not obligate, one another and are not liable for one another’s acts or omissions. Please see grantthornton.com for further details.

KPMG227,087 +65 6213 3388

KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We have 227,000 outstanding professionals working together to deliver value in 146 countries and territories. With a worldwide presence, KPMG continues to build on our successes thanks to clear vision, defined values and, above all, our people. Our industry focus helps KPMG firms’ professionals develop a rich understanding of clients businesses and the insight, skills and resources required to address industry-specific issues and opportunities.The independent member firms of the KPMG network are affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

AGN INTERNATIONAL112 +65 6235 3388

AGN International is a worldwide association of separate and independent accounting and advisory firms. Our members deliver assurance, accounting, tax and advisory services to businesses, individuals and organisations around the globe. AGN International has 197 member firms in 89 countries worldwide, and is amongst the largest of comparable organisations globally. High standards and client service is at the heart of what we do. Regionally and worldwide, member firms collaborate to meet clients needs, and improve client service by sharing experience and knowledge, understanding of each other’s markets and the needs of clients with cross-border requirements. AGN members worldwide identify with a common set of values that inform what we do and how we do it. We are: Excellent: Upholding high standards of knowledge, professionalism and service in all we do. Connected: With a spirit of global collaboration directed to service clients interests, our members develop close and personal relationships with leaders in other firms around the world. Individual: Successful, interesting people who bring ideas, innovation and opportunity to the table. For more information, visit our website: www.agn.org

BAKER TILLY CENTRAL AFRICA192 +65 6336 2828

At Baker Tilly we believe in a client-focused and partner-led approach aimed at delivering total client satisfaction.Our clients benefit from outstanding personal service backed by a global network to support them as they grow regionally and globally. It is our strong relationship with other Baker Tilly International member firms that is the key factor enabling us to overcome time and cross-border complexities to deliver a quality service. Each of the networks 148 member firms is independent and autonomous; however we have chosen to work together, resulting in strong professional relationships and efficient collaboration. Baker Tilly’s service approach is based around a lead partner who serves as the single point of contact for a client, irrespective of the size of engagement, co-ordinating all work being carried out and ensuring it is completed to the highest standards, within budget and on time. Baker Tilly assigns personnel (including partners) based on the knowledge, skills, and abilities required in the circumstances and the nature and extent of supervision needed.We ensure that engagements are consistently performed in accordance with applicable professional standards and regulatory and legal requirements and that Baker Tilly or the engagement partner issues reports that are appropriate in the circumstances.Baker Tilly Central Africa has offices in Botswana, Malawi, Zambia and Zimbabwe.

EISNERAMPER SINGAPORE13 +65 6305 9900

At EisnerAmper Singapore, we create business, corporate solutions and provide advisory services. We are specialist accountants with a niche focus on three markets: Financial Services, Corporate Solutions and Advisory.We are experts in the provision of Audit, Tax, Advisory, Regulatory and Outsourcing services. We aims to be one of the Singapores leading professional firm in the specialist areas at Financial Services, Corporate Solutions and Advisory.

Top Accounting And Tax Companies in Malaysia

Key Statistics from 2022

In Malaysia, the accounting industry is a crucial part of the economy, serving as a key pillar in financial reporting and corporate governance. The sector has seen significant growth in recent years, contributing significantly to the country's GDP. As of 2022, Malaysia's GDP stood at approximately $365 billion, with the accounting industry employing over 150,000 professionals across the country, approximately 0.6% of the total workforce.

Factors Contributing to Its Growth and Success

One of the key factors contributing to the growth and success of the accounting industry in Malaysia is the government's initiatives to promote the industry. The Malaysian government has implemented various policies to attract foreign investment and support the development of the country's financial services industry. Additionally, the government has invested in the development of digital infrastructure, which has provided a conducive environment for the growth of the accounting industry.

Furthermore, the accounting industry's success can be attributed to the increasing demand for financial services in various industries, including healthcare, technology, and finance. As companies continue to compete for market share, they are seeking financial advice and services to inform their decision-making processes. The accounting industry plays a vital role in providing these services, contributing to the overall growth of the economy.

Each Industry's Growth and Comparison to Previous Years

The accounting industry comprises several sectors, including auditing, taxation, and financial reporting. The auditing sector has shown significant growth in recent years, with a growth rate of 6.7% in 2022 compared to 6.3% in 2021. The taxation sector has also shown an increase in growth, with a growth rate of 5.8% in 2022 compared to 5.2% in 2021. However, the financial reporting sector experienced a slight decline in growth, with a growth rate of 3.5% in 2022 compared to 3.9% in 2021.

Key Trends

The accounting industry has experienced various technological disruptions, which have contributed to the industry's growth and success. For example, the implementation of cloud computing and digital platforms has enabled accounting firms to improve efficiency, reduce costs, and enhance client services. Additionally, the use of automation and artificial intelligence has enabled firms to streamline accounting processes and reduce errors.

Another key trend in the accounting industry is the growing importance of sustainability and environmental responsibility. Companies are increasingly looking for eco-friendly and sustainable financial services, which has led to a rise in the use of sustainable investing and green accounting practices.

Challenges

Despite the industry's success, it still faces several challenges. One of the primary challenges is the increasing competition in the global market, requiring accounting firms to stay up-to-date with emerging trends and technologies. Additionally, the industry faces challenges related to talent retention and cybersecurity risks.

Future Outlook

However, the outlook for the accounting industry in Malaysia is positive. The Malaysian government continues to prioritize the development of the industry, and the industry itself is adapting to new technological advancements and sustainability practices. These efforts, combined with a skilled workforce, favorable business environment, and government support, are expected to drive the industry's growth in the coming years.

To stay competitive, companies operating in the accounting industry in Malaysia must also focus on innovation and client service. This includes leveraging digital platforms to enhance client engagement and satisfaction, adopting sustainability and green accounting practices, and investing in research and development to stay ahead of emerging trends.

In addition, the accounting industry in Malaysia must also focus on developing its workforce. Companies should prioritize training and upskilling programs to address the shortage of skilled workers in high-demand areas such as data analytics and cybersecurity. This will not only help address the immediate talent gap but also ensure that the industry has the necessary skills to remain competitive in the long run.

Furthermore, as the global market becomes increasingly competitive, the accounting industry in Malaysia must also focus on providing innovative and personalized services to clients. This includes providing tailored financial solutions to meet the unique needs of clients, utilizing digital platforms to reach a wider audience, and leveraging sustainability as a competitive advantage.

Conclusion

In conclusion, the accounting industry in Malaysia has experienced significant growth and success, thanks to a combination of government support, increasing demand for financial services, and favorable business conditions. The industry's ability to adapt to new technologies and sustainability practices will be crucial in driving its continued growth in the future. By addressing challenges related to talent retention and cybersecurity risks and prioritizing workforce development and innovation, companies operating in the accounting industry can thrive in Malaysia's rapidly evolving business landscape.

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By Melissa Goh
Published on 14 May 2023