Annual Audit and Compliance in ASEAN

Introduction

Audit compliance is one of the most important tasks that needs to be undertaken by

companies at the beginning of a new fiscal year. In addition to ensuring taxes and duties

are paid and accurate, it helps companies detect any irregularities and allows them to

take appropriate action. However, the process can be daunting for companies operating

in a foreign country. This process can be even more complex when doing business in

the evolving markets of emerging ASEAN, despite laudable steps towards regulatory

harmonization.

For the first issue of our ASEAN Briefing Magazine, we look at the different audit and

compliance regulations of five of the main economies in ASEAN. We firstly focus on the

accounting standards, filing processes, and requirements for Indonesia, Malaysia, Thailand

and the Philippines. We then provide similar information on Singapore, and offer a closer

examination of the city-state’s generous audit exemptions for small-and-medium sized

enterprises.

As the region becomes more attractive, it is important for all companies to be informed

on the latest updates and regulations to remain in compliance. With multiple years of

experience operating regionally, the qualified professionals at Dezan Shira and Associates

have assisted a wide number of clients to meet their accounting and compliance needs in

ASEAN. We hope you help us become part of your Asian success story, and wish you and

your business interests a profitable year ahead.

This Month’s Cover Art

Gopal Samantray

Acrylic On Canvas , 60”x 48”

Art Konsult

+91-11-65683083

rtkonsult.com

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Reference

ASEAN Briefing and related titles are

produced by Asia Briefing Ltd., a wholly

owned subsidiary of Dezan Shira Group.

Content is provided by Dezan Shira &

Associates. No liability may be accepted

for any of the contents of this publication.

Readers are strongly advised to seek

professional advice when actively looking

to implement suggestions made within

this publication.