mia bank confirmation

The industry-wide Electronic Bank Confirmation EBC Platform eConfirmmy was officially launched on 26 June 2020 by the Malaysian Institute of Accountants MIA and Extol Corporation Sdn Bhd Extol a wholly-owned subsidiary of AppAsia Berhad at an e. This is a 12 years collaboration project with MIA to develop and promote Malaysias first and only industry-wide Electronic Bank Confirmation Platform to facilitate the audit process for the auditors and banks operating in Malaysia as required under the.

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Streamline your confirmation process Store the entire firms bank confirmation requests and responses received for different engagement teams in one place for a period of six months Assign just one or two staff to manage the centralised confirmation process for the entire firms audit engagements.

. In June 2020 the Malaysian Institute of Accountants MIA officially launched the industry-wide Electronic Bank Confirmation EBC Platform eConfirmmy together with platform developer and service provider Extol Corporation Sdn Bhd Extol. 603 2722 9000 Fax. The Institute has recently revised the sample of bank confirmation request after consultation with auditors and the Association of Banks in Malaysia ABM.

AmBank M Berhad AmBank Islamic Berhad Audit Confirmation Branch Operation Level 12 Tower 2 Wisma AmFirst Jalan Stadium SS 715 47301 Petaling Jaya Selangor Darul Ehsan 4. Audit firms are exhorted to sign up for eConfirmmy the Industry-wide Electronic Bank Confirmation Platform in Malaysia which MIA is spearheading and will go live on 5 May 2020. This RM15 per confirmation fee is in addition to the fee Iwe currently pay to the bank concerned for providing the bank confirmation service.

EConfirmmy is entering the market at an opportune moment. List of Contact Details for 27 Commercial Banks in Malaysia Malaysia including their respective Islamic banking arms including their respective Islamic banking arms Updated December 2018. View Sample MIA Bank Confirmation Templatedocx from ACCOUNTING ACW3431 at Monash University.

Online Application for Audit and Liquidator Approval For New and Renewal Applications Using Business Licensing Electronic Support System BLESS 06012016. KUALA LUMPUR June 26 The Malaysian Institute of Accountants MIA and Extol Corporation Sdn Bhd a wholly-owned subsidiary of AppAsia Bhd have launched eConfirmmy an electronic bank confirmation EBC platform to address related issues and risks. Bank Islam and AmBank have been using eConfirmmy since 1 April 2021 and 1 December 2020 respectively.

603 2722 9000 Fax. Bangkok Bank Berhad Name. MIA has been working closely with The Association of Banks in Malaysia ABM since 2013 to maintain a list of contact details for 26 commercial banks in Malaysia to facilitate the sending of bank confirmation requests manually by auditors.

The MIA collaborated with Extol on eConfirmmy to automate the current bank confirmation process and. The delays in receiving bank confirmation replies have seriously impacted on the timeliness of financial statements being. The turnaround time should be shortened by sending the bank confirmation requests to the right processing centre or department or branch depending on the operations system.

Mia You must enable javascript to view this page. The attached list of contact details was updated as at 18 February 2020 with some changes in the banks. 603 2722 9100 No Bank Contact Person Correspondence Address.

A sample of the Bank Confirmation Request Letter can be downloaded from the MIA website at. As at 20 October 2017 the OBCTF finalised the evaluation of vendors via an open tender process. Hence member firms are advised to refer to the updated list of contact details for 27 commercial banks in Malaysia before sending the bank confirmation requests.

You must enable javascript to view this page. MIA then set up an Online Bank Confirmation Task Force OBCTF in 2017 chaired by MIA Council Member Dato Mohammad Faiz Azmi and comprising representatives from ABM Maybank and audit firms to look into the implementation of the said plan. Launch of Industry-wide Electronic Bank Confirmation Platform Set to Transform Auditing Capital Market.

Extol Corporation Sdn Bhd 1-40-1 Menara Bangkok Bank No. With the greater efficiency experienced these banks decided to migrate fully to eConfirmmy for all their bank confirmation requests commencing 1 February 2022 and 1 May. Amendments to the By-Laws On Professional Ethics Conduct and Practice of Malaysian Institute of Accountants.

This has improved the overall workflow for most participating banks. MIA president Huang Shze Jiun said the industry-wide EBC Platform marked another. The industry-wide Electronic Bank Confirmation EBC Platform eConfirmmy was officially launched on 26 June 2020 by the Malaysian Institute of Accountants MIA and Extol Corporation Sdn Bhd Extol a wholly-owned subsidiary of AppAsia Berhad at an e-ceremony attended by various stakeholders including auditors audit clients bankers and regulators.

Insert date Insert name of Contact Person Bank name Address Dear Sir STANDARD. SAMPLE OF BANK CONFIRMATION REQUEST. 603 2722 9100 Delivery of Bank Confirmation RequestDelivery of Bank Confirmation Request.

And myour financial information will be available in the Platform for a period of 6 months from the confirmation date. 105 Jalan Ampang 50450 Kuala Lumpur 6011-1950 0000 email protected.

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