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 8%)(RM) |
| Dormant | – | – | 800 | 800 |
| The first 100,000 | 100,000 | 1.200% | 200 | 1,200 |
| The next 150,000 | 250,000 | 0.438% | 657 | 1,857 |
| The next 250,000 | 500,000 | 0.313% | 783 | 2,640 |
| The next 500,000 | 1,000,000 | 0.188% | 940 | 3,580 |
| The next 1,500,000 | 2,500,000 | 0.125% | 1,875 | 5,455 |
| The next 2,500,000 | 5,000,000 | 0.100% | 2,500 | 7,955 |
| The next 5,000,000 | 10,000,000 | 0.094% | 4,700 | 12,655 |
| The next 10,000,000 | 20,000,000 | 0.100% | 10,000 | 22,655 |
| Above 20,000,000 | Negotiable | >22,655 |
| Total Operating Expenditure for every ringgit of (RM) | Cumulative Ringgit (RM) | Rate (%) | Fees (RM) | Cumulative Fees (Exclusive of SST 8%) (RM) |
| The first 50,000 | 50,000 | 2.500% | 1,250 | 1,250 |
| The next 150,000 | 200,000 | 1.125% | 1,875 | 3,125 |
| The next 800,000 | 1,000,000 | 0.625% | 5,000 | 8,125 |
| The next 1,000,000 | 2,000,000 | 0.250% | 2,500 | 10,625 |
| Above 2,000,000 | 0.125% | Negotiable | >10,625 |
**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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