GP & Co was established in year 2010 as a non-audit firm under The Malaysian Institute of Accountants, providing accounting and management services and subsequently on 15 February 2013 converted to an Audit Firm.
Mr. Ganesen Pillay (GP) the Managing Partner, since then practiced as an Audit Partner till to-date. Mr. GP holds a bachelor degree in Accounting with honours from Universiti Utara Malaysia and a member of The Malaysian Institute of Accountants (MIA), Malaysian Institute of Certified Public Accountants (MICPA), ASEAN Certified Public Accountants (ASCPA) and Chartered Institute of Taxation of Malaysia ACTIM). He is a qualified Company and Cooperative Auditors and Licensed Tax Agent.
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The main objective of starting a business is definitely to reap a profit. Many startups failed within 3 years of establishment due to poor financial management and no proper bookkeeping. It is important for entrepreneurs to have a proper recording of business transactions; income and expenses to determine whether your business is operating at a profit or at a loss. Knowledge of basic bookkeeping will ensure the consistency of your business financial reporting.
The objective of an audit is to form an independent opinion on the financial statements of the audited entity. The opinion includes whether the financial statements show a true and fair view, and have been properly prepared in accordance with accounting standards. A misconception is that auditors are required to identify all misstatements. However, they are responsible for identifying material misstatements, not all misstatements.
Objectives of Taxation: The primary purpose of taxation is to raise revenue to meet huge public expenditure. Most governmental activities must be financed by taxation. But it is not the only goal.