How Will The New Companies Act 2016

Affect You & Your Company? 

Find out what you need to know from this 1-day seminar

Introduction

Companies Bill 2015 (Bill) was tabled for first reading in November 2015 and second reading in March 2016. It was finally passed in Parliament on 4 April 2016.

The Bill received Royal Assent on 31 August 2016 and was subsequently gazetted as the Companies Act 2016 (CA 2016) on 15 September 2016. Certainly, there are wide ranging changes that affect many stakeholders, including entrepreneurs, directors, business owners, administrators, SME accountants and anyone else interested to learn more.

This training seeks to provide knowledge and information to some of the changes and effects, given the Companies Act 2016, as it is essential that business owners, accountants, auditors and other professionals need to be aware of the new developments and requirements so as to be in a position to make the necessary preparations and implement the new requirements appropriately.

Learning Outcomes

  • Explain the salient changes between CA 1965 and CA 2016
  • Explain the requirements of CA 2016 that affect directors
  • Explain the requirements of CA 2016 that affect company secretary
  • Explain the requirements of CA 2016 that affect accounting
  • Explain the requirements of CA 2016 that affect auditors
  • Able to make the necessary preparations in the way any business operates arising from CA 2016

Course Outline

Module 1: Introduction
    • Objectives of changes made to the Companies Act
    • Timeline of steps and process to changes to Companies Act, including passing of the Companies Bill in Parliament and gazetting
Module 2: Incorporation of Company
    • Easier process for companies to be incorporated Particulars required
    • Effect of CA 2016 on M&A
    • Effect of CA 2016 on Company Secretary at formation stage
Module 3: Share Capital and No Par Value regime and other matters related to capital
    • CA 2016 impact on share capital
    • Introduction to No Par Value Regime
    • Capital reduction
    • Solvency statements
Module 4: Duties and responsibilities of Directors
    • Brief on Duties and responsibilities of Directors
    • Enhanced corporate governance requirements
    • Effects on audit
Module 5: Duties and responsibilities of Secretaries and other administrative matters
    • Brief on Duties and responsibilities of Secretaries
    • Registers to be maintained
    • Returns and lodgements to be made with Registrar
Module 6: Meetings
    • Updates
    • Revision on conduct of meetings
Module 7: Impact on Accounting – Financial Statements and Report
    • Requirements on Approved Accounting Standards and its effect on Financial Statements
    • System of internal control
    • Disclosure requirements in financial statements
    • Contents of Directors’ Report
    • Time allowed for sending out copies of financial statements and reports
Module 8: Impact on Auditors
    • Provisions relating to Private Company
      • -Appointment of auditors
      • -Terms of office
    • Provisions relating to Public Company
      • -Appointment of auditors
      • -Terms of office
    • Auditor’s remuneration
    • Procedure to appoint auditor
    • Removing auditor from office
    • Resignation of auditor (including rights of resigning auditor)
    • Attendance of auditors where financial statements are laid
Module 9: Other matters
    • Practice guides issued by SSM
    • Business Review part of Directors’ Report Penalties – relook
    • Further updates

Workshop Methodology

Intuitive & enthusiastic classroom-style workshop with PowerPoint presentations, active/ proactive sessions, real case study with illustrations, and Q&A session

Who Should Attend

CFO, Senior Accountants, Accounts Executives, Auditors, Directors, Entrepreneurs, Business Owners, SMEs, Administrators and all who needs to learn more about this topic

About the Trainer

Mr. Ng K.K. is a Chartered Accountant and has more than twenty years of auditing, accounting and company secretarial experience across various industries. Previously, he worked with one of the international accounting firms in the audit and advisory services and covered industries like agriculture, manufacturing, trading, marketing, banking and finance, and construction. He has served as a director and company secretary to several family related firms. Mr. Ng is a member of the Malaysian Institute of Accountants (MIA) and fellow member of the Association of Chartered Certified Accountants (ACCA), UK.

At MIA, he is a member of the Malaysian Institute of Accountants (MIA). He also serves as a Council Member, and a member of several committees of MIA such as the Financial Reporting Standards Implementation Committee (FRSIC), Financial Statements Review Committee (FSRC), Public Accountants in Business (PAIB) Committee and Monitoring Committee. He also previously served on the SSM Committee that looked at regulatory matters such as Companies Bill 2013 / 2015 and Companies Act 2016.
Furthermore, he is a member of ACCA’s Global Forum – Corporate Reporting, a group of members from around the world that looks at corporate reporting issues. Previously, he served as member of ACCA Malaysia’s Technical Committee.

He is also an adjudicator of the National Annual Corporate Reports Awards (NACRA) that is organized by Bursa Malaysia, Malaysian Institute of Accountants and Malaysian Institute of Certified Public Accountants.

Workshop Details

Date:26 Sept 2017 (Tue)
Time: 9AM-6PM
Venue: WSpace, Midvalley

    Seminar fee:
    1. Official  fee: RM780 (inclusive of 6% GST)
    2. Special for WSPACE’S clients - Only RM500 per person

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