KTP & Company PLT

Auditing isn’t just about working with numbersโ€”it’s about understanding all the rules, laws, and how things are changing.

At KTP, we often ask ourselves: Is auditing hard? If you look at our whiteboard full of notes and scribbles, youโ€™ll see that it definitely can be.

To be an auditor in Malaysia, you need to learn many rules and standards, like ๐˜๐—ต๐—ฒ ๐— ๐—ฎ๐—น๐—ฎ๐˜†๐˜€๐—ถ๐—ฎ ๐—”๐—ฝ๐—ฝ๐—ฟ๐—ผ๐˜ƒ๐—ฒ๐—ฑ ๐—”๐˜‚๐—ฑ๐—ถ๐˜๐—ถ๐—ป๐—ด ๐—ฆ๐˜๐—ฎ๐—ป๐—ฑ๐—ฎ๐—ฟ๐—ฑ๐˜€, ๐— ๐—ฃ๐—˜๐—ฅ๐—ฆ, ๐— ๐—™๐—ฅ๐—ฆ, ๐—–๐—ผ๐—บ๐—ฝ๐—ฎ๐—ป๐—ถ๐—ฒ๐˜€ ๐—”๐—ฐ๐˜ 2016, ๐—”๐—ฐ๐—ฐ๐—ผ๐˜‚๐—ป๐˜๐—ฎ๐—ป๐˜๐˜€ ๐—”๐—ฐ๐˜ 1967, ๐—ฎ๐—ป๐—ฑ ๐˜๐—ต๐—ฒ ๐— ๐—œ๐—” ๐—•๐˜†-๐—Ÿ๐—ฎ๐˜„.

One of the biggest difficulties ๐—ถ๐˜€ ๐—ธ๐—ฒ๐—ฒ๐—ฝ๐—ถ๐—ป๐—ด ๐˜‚๐—ฝ ๐˜„๐—ถ๐˜๐—ต ๐—ฎ๐—น๐—น ๐˜๐—ต๐—ฒ ๐—ฐ๐—ต๐—ฎ๐—ป๐—ด๐—ฒ๐˜€. These standards and laws are updated regularly, and it is crucial for auditors to stay informed.

Falling behind on these updates can mean that you miss important changes, which can lead to mistakes in audits.

This is why auditors need to constantly invest time in learning and staying current with industry changes.

Another challenge is dealing with ๐˜๐—ต๐—ฒ ๐˜€๐—ต๐—ฒ๐—ฒ๐—ฟ ๐˜ƒ๐—ผ๐—น๐˜‚๐—บ๐—ฒ ๐—ผ๐—ณ ๐—ฑ๐—ผ๐—ฐ๐˜‚๐—บ๐—ฒ๐—ป๐˜๐—ฎ๐˜๐—ถ๐—ผ๐—ป. Auditors need to gather, review, and analyze many different types of documents for each audit.

This can be overwhelming, especially when clients are not well-prepared or when documents are missing or incomplete. It requires persistence and a lot of communication to get everything you need.

Auditing also involves ๐—ฎ ๐—น๐—ผ๐˜ ๐—ผ๐—ณ ๐—ฝ๐—ฟ๐—ผ๐—ฏ๐—น๐—ฒ๐—บ-๐˜€๐—ผ๐—น๐˜ƒ๐—ถ๐—ป๐—ด. Every client is different, and sometimes the information they provide doesn’t fit neatly into the standards.

Auditors have to think critically and use their judgment to figure out the best way to handle unique situations while still complying with the rules.

This requires not only knowledge but also experience and confidence.

On top of that, there is always ๐˜๐—ต๐—ฒ ๐—ฝ๐—ฟ๐—ฒ๐˜€๐˜€๐˜‚๐—ฟ๐—ฒ ๐—ผ๐—ณ ๐—ฑ๐—ฒ๐—ฎ๐—ฑ๐—น๐—ถ๐—ป๐—ฒ๐˜€. Audits need to be completed within a certain time frame, and there can be unexpected delays that make it even harder.

Balancing time while ensuring quality is one of the toughest parts of the job. It’s about managing stress and being efficient without cutting corners.

And that’s not allโ€”you also need to know how to use tools like Abot ๐—”๐˜‚๐—ฑ๐—ถ๐˜๐—ถ๐—ป๐—ด ๐—ฆ๐—ผ๐—ณ๐˜๐˜„๐—ฎ๐—ฟ๐—ฒ to keep up.

Whether you are just starting out or have some experience and want to grow, you will find useful information here. Watch this video to get a behind-the-scenes look at what auditing is really like at KTP in our YouTube ๐—ต๐˜๐˜๐—ฝ๐˜€://๐˜†๐—ผ๐˜‚๐˜๐˜‚.๐—ฏ๐—ฒ/๐—ฏ๐—ฅ๐—๐˜„๐—”๐——๐˜†๐—ท๐—ด๐—ฐ๐˜€

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I’m Koh Teck Peng

Welcome to my blog, Iโ€™m the founder and principal of KTP & Company PLT. My journey in the accounting profession has been driven by a passion for numbers and a dedication to helping businesses succeed. With over 25 years of experience, Iโ€™ve had the privilege of working with a wide range of clients, from small startups to large corporations, providing them with the financial insight and strategic guidance they need to thrive.

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