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The Registrar may approve any person to be an approved auditor. [1]No person shall perform the duties of auditor of an offshore company unless he is an approved auditor. [2] Application for approval is made to LOFSA using prescribed forms. Currently, the annual fee for an approved auditor is RM200.00. There is no requirement that the auditor must have a presence in Labuan. An approved auditor must give his consent in writing prior to his appointment as an approved auditor for an offshore company. No person shall knowingly accept the appointment as an auditor of an offshore company or prepare on behalf of an offshore company any audit report unless he is an approved auditor.[3]

The Registrar may approve any person to be an approved liquidator.[4] No person shall perform the duties of liquidator of an offshore company unless he is an approved liquidator.[5] An approved liquidator must give his consent in writing prior to his appointment as an approved liquidator for an offshore company.[6] Application for approval is made to LOFSA using prescribed forms. Currently the annual fee for an approved liquidator is RM200.00. There is no requirement that the auditor must have a presence in Labuan.