Compliance
Last updated: 30 May 2024
Our Commitment to Compliance
Wace Advisory is committed to operating with the highest standards of professional integrity and regulatory compliance. As a registered accounting and advisory firm in Malaysia, we adhere to all applicable laws, professional standards, and ethical guidelines governing our practice.
Professional Memberships & Accreditations
Malaysian Institute of Accountants (MIA)
Member of the MIA, the statutory body established under the Accountants Act 1967 to regulate the accountancy profession in Malaysia.
Association of Chartered Certified Accountants (ACCA)
Member of ACCA, a globally recognised professional accountancy body committed to the highest standards of ethics and professional excellence.
Regulatory Framework
Our operations comply with the following key regulations and standards:
- Income Tax Act 1967 — Governing all taxation services provided to individuals and businesses in Malaysia.
- Companies Act 2016 — Ensuring all corporate advisory and audit services meet statutory requirements.
- Personal Data Protection Act 2010 (PDPA) — Protecting client data and ensuring responsible data handling practices.
- Malaysian Financial Reporting Standards (MFRS) — Applied in the preparation and review of financial statements.
- International Standards on Auditing (ISA) — Followed in the conduct of all audit and assurance engagements.
- Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA) — Adhered to in all client onboarding and financial advisory processes.
Professional Ethics
All members of Wace Advisory are bound by the MIA By-Laws (On Professional Ethics, Conduct and Practice) and the ACCA Code of Ethics and Conduct, which require adherence to the following fundamental principles:
- Integrity — Being straightforward and honest in all professional and business relationships.
- Objectivity — Not allowing bias, conflicts of interest, or undue influence to override professional judgements.
- Professional Competence and Due Care — Maintaining professional knowledge and skill at the level required to ensure competent service.
- Confidentiality — Respecting the confidentiality of information acquired as a result of professional relationships.
- Professional Behaviour — Complying with relevant laws and regulations and avoiding any conduct that discredits the profession.
Anti-Bribery & Corruption
Wace Advisory has a zero-tolerance policy towards bribery and corruption. We comply with the Malaysian Anti-Corruption Commission Act 2009 (MACC Act) and do not engage in, facilitate, or condone any form of corrupt practice in our business dealings.
Reporting Concerns
If you have any concerns regarding our compliance practices or wish to report a potential breach of professional standards, please contact us directly. All reports will be treated with strict confidentiality.