Document background
An Audit Proposal is a formal document used when an audit firm seeks to provide professional audit services to a client organization in Malaysia. The document serves as both a technical and commercial proposal, detailing how the audit firm will meet the client's audit requirements while complying with Malaysian regulatory frameworks, including the Companies Act 2016 and Malaysian Institute of Accountants (MIA) guidelines. The Audit Proposal typically includes comprehensive information about the audit firm's qualifications, proposed methodology, team structure, timeline, and fee arrangements. It is used for both statutory audits required under Malaysian law and non-statutory audits requested for specific business purposes. The document forms the basis for the subsequent audit engagement letter if accepted by the client.
