The FTSE Bursa Malaysia KLCI brings together 30 of the largest and most prominent companies listed on Bursa Malaysia, spanning banking, telecommunications, utilities, plantations, consumer businesses and industrial groups.
But who audits them?
Big4News examined the latest available annual reports and corporate disclosures for every company in the index to identify its external auditor, how long the current audit firm has held the mandate, and the latest disclosed audit fee.
The results show how Malaysia’s largest listed companies divide their audit work among the major accounting firms — and reveal a notably concentrated market in which Deloitte currently holds no KLCI audit mandates.
The table below can be sorted by company, sector, auditor, appointment year and audit fee.
Audit market share
The Big Four audit 24 of the 30 companies in the FTSE Bursa Malaysia KLCI, giving them a combined market share of 80% by number of audit mandates.
PwC leads the market with 10 clients, or 33.3% of the index. EY follows with eight mandates, representing 26.7%, while KPMG audits six companies, or 20.0%.
The remaining six mandates are divided between BDO, with four clients, Crowe with one, and HLB Ler Lum Chew PLT with one.
The most striking feature is the absence of Deloitte. Despite being one of the major international accounting networks operating in Malaysia, Deloitte does not audit any of the 30 KLCI companies in this analysis.
Audit fees
Audit fees vary substantially across the KLCI.
Big4News was able to identify a sufficiently comparable audit-fee figure for 29 of the 30 companies. Across those companies, the disclosed fees total approximately RM167.8 million, with a median of approximately RM3.0 million.
At the top end, Maybank reported an audit fee of RM30.856 million, the largest in the dataset, followed by CIMB Group at RM23.968 million. IHH Healthcare was next at RM14.0 million, followed by SD Guthrie at RM12.888 million and Axiata Group at RM10.86 million.
At the other end of the range, several KLCI companies reported audit fees below RM1 million. The lowest identified figure in the dataset was RM654,000 for PETRONAS Gas.
Auditor tenure
Malaysian independence rules applying to public-interest entities require key audit partners to rotate after prescribed periods. The “Since” figures used by Big4News measure the tenure of the audit firm itself, rather than the engagement partner signing the audit.
The longest identified relationship in the dataset is QL Resources and KPMG, dating to 1998.
EY has audited both Gamuda and Maybank since 2002, while its relationship with MISC dates to 2003 and with AMMB Holdings to 2005. PwC has audited Axiata Group since 2008 and Maxis since 2009.
At the other end of the spectrum, there have also been recent changes. PwC became CelcomDigi’s auditor for the 2024 financial year, while SD Guthrie’s PwC relationship dates from 2025.
Notes on the Malaysian data
Audit fees are presented in Malaysian ringgit (MYR). Where companies disclose audit and non-audit remuneration separately, only the relevant audit amount is included. Reporting terminology and fee scope are not completely uniform across Malaysian issuers, so the figures should be read as the latest reliably identifiable audit fees rather than as a perfectly standardised pricing comparison.
This approach is consistent with the wider methodology used throughout the Who Audits? project. For details on source hierarchy, auditor-tenure calculations, treatment of fees and our policy on missing data, see Who Audits? Sources & Methodology.
Who audits the world’s largest companies?
Explore the Big4News Who Audits? hub, which maps the audit firms behind the world’s leading stock-market indices — including auditor tenure, audit fees and Big Four audit market share.