Frequently Asked Questions.

Please make sure the first name and last name of the partner is EXACTLY the same as your partner’s
practicing certificate. You will also need to insert “PC” in front of the 4 digit PC number, e.g. PC8888.

These errors occur when you have incorrectly input your Branch Name & Branch Code, and we advise to
change your input in these fields. Please use your Audit Firm Name for both fields. If you have multiple
branches, you may add the location of your Headquarters after your Audit Firm name, e.g., ABC & Co (KL).
Subsequent branches of your firm can be created once you have logged in.

There are 2 reasons for account to be deactivated/blocked:
1. Inactivity for 90 days from the last successful login; or
2. Incorrect password during login (attempted incorrectly 3 times)
Solutions:
a. If your account a user admin account, you will need to send your full user ID (AF Number + User ID) and
email address to [email protected] for reactivation.
b. If your account is NOT a user admin account, please contact your Audit Firm’s user admin to trigger the reactivation process for your account.
c. If your account a branch user admin account, please contact the user admin from the main branch to
trigger the reactivation process for your account.

Yes, you are required to change your password every 60 days. Previous 4 passwords cannot be used when setting a new password for your account.

Unfortunately Extol will not be able to send your Audit Firm’s Company Key to you if your Company Key has been misplaced. Similarly, you will not be able to generate a new Company Key whilst there is an active Company Key for your Audit Firm.
Therefore, your Audit Firm is advised to send an official revocation letter addressed to Extol (with your company letterhead, company authorised signatures, and company stamp) for Extol to revoke the previous Company Key, after which, your User Admin can generate a new Company Key for your Audit Firm.

Prior to the resignation of creator and/or approver, they can add team members from their Audit Firm to the request(s) that they were involved in, with the following criteria:
• The original ‘Executive’ (creator), ‘Manager’ and ‘Partner’ (approvers) users of that particular confirmation request cannot be altered/removed;
• The above original users can appoint/remove new team members, without approval needed;
• Administrator user will be granted with the authority to appoint/remove new team members (using search request ID function without the ability to view the confirmation request content); and
• The newly added team members can communicate with the bank, view, receive and download the confirmations, as well as to send, receive and download the re-confirmations.
• This function is only available once the confirmation request has passed through the approval stage by ‘Manager’ and ‘Partner’ (approvers) users.
• Users can only appoint/remove team members by each particular confirmation request one by one (not by batch).

You can subscribe to the daily summary report email which is sent to the registered email of your user account.
1. Go to User Profile
2. Tick the “Notification alert” checkbox
3. Save
If you wish to stop receiving the daily summary report email, you may go back to the same page and deselect the checkbox.

The sample template is a recommended guide for auditors and hence you may continue to use your Audit Firm’s existing bank confirmation request letter template. However, it is important for you to include the following conditions for the awareness of your clients prior to providing you with their authorised signature (see page 2 of Appendix 1 of the template for bank confirmation request – Agreement To Obtain Bank Confirmation Through the Online Bank Confirmation Platform) and granting permission for your Audit Firm to submit the bank confirmation request via eConfirm.my. The conditions are:
a) there will be a fee per confirmation for using the online bank confirmation platform and the fee is to be paid to Extol Corporation Sdn. Bhd.;
b) this fee is in addition to the fee I/we currently pay to the bank concerned for providing the bank confirmation service; and
c) clients’ financial information will be available in the Platform for a period of 6 months from the confirmation date in the online bank confirmation platform. Participating banks may not process your request if the above is missing from your Audit Firm’s existing bank confirmation request letter template.

Nevertheless, Audit Firms may modify the above conditions (a) and (b) if the Audit Firm decides not to charge clients for the usage fee.

Yes, you may exclude.

When submitting an online confirmation request via eConfirm.my, the address is no longer important. You may state the Bank’s address as shown in eConfirm.my; either Banks’ HQ. address or Branch address. The address on the “Client consent letter” must be consistent with the confirmation request letter.

You should not submit the confirmation request. twice i.e., send manually via mail and electronically via eConfirm.my, as this will result in your client being charged twice for the same confirmation request.

Different banks have different turnaround times (TAT), ranging from 3 – 14 working days. 5 working days is the average TAT since the soft launch of eConfirm.my in May 2020.

Most of the participating Banks in eConfirm.my have a centralised centre to process. confirmations. Hence, only one confirmation is required for all accounts in the respondent Bank, even if the facilities are maintained at different branches and with different signatories. As for different signatories, it is advised to combine all letters into one PDF file and submit only one request to the Bank. However, request submissions to certain banks (i.e., RHB Bank) maybe differ as the Bank’s process is centralised by products. This may be revised from time to time.

You will be able to view the entities covered by the Bank’s centralised team via the “Bank Branch/Centre” dropdown on the request submission form, i.e., Maybank/Maybank Islamic. You may submit only one confirmation request for all the facilities maintained by the listed Bank entities.
Bank entities not shown, i.e., Maybank Investment Bank, are handled by a different team who will participate in the Platform separately. Hence, a separate confirmation request letter is required.

a. Duplicate request submissions via eConfirm.my AND through post/courier.
b. Duplicate request submissions for the same company in one Bank, i.e., submission of two separate requests for Maybank KL branch and Maybank Johor branch (one request letter is sufficient).
c. “Client consent and authorisation letter” not uploaded together with the bank confirmation request letter into the platform.
Here is how you can avoid rejections of confirmation request from Banks:
• Make sure the client has sufficient funds in their accounts for Bank charges.
• Make sure the client has arranged the correct authorised directors’ signatories and correct authorised company stamp for the confirmation request letter.
• Make sure the letter is dated properly and the financial year end date is indicated.
• Make sure the company name and company number are correct and consistent with SSM records, i.e., ABC Sendirian Berhad or ABC Sdn. Bhd..
• Avoid submitting duplicate confirmation requests, i.e., manual and electronic.
• Make sure the client information in eConfirm.my is correct and consistent with the request letter.
• Make sure the consent from client to use eConfirm.my is included in the confirmation request letter (Please refer to MIA’s template).

The rejection reason must be provided by the Bank for any rejection of confirmation request. There is also a correspondence box for you to request further clarification from the Bank on the rejection reason(s) provided. The correspondence box is open for a period of 14 days from the date of rejection from the Bank.

A charge code is your Audit Firm’s internally generated code for your client, also known as billing code, finance. code, engagement code or client code.

As 2021 is the first year the new company number was issued by SSM, your client might not have updated the Bank on their new. company number. Hence, it is advised to state both old and new company numbers of the
company, i.e., 123456789 (formerly 1234-T).

Yes. You will need to input “Not Applicable” or “N/A” as the company number upon the creation of the client information.

You may submit a reconfirmation request, stating your reason requesting a reconfirmation. There will be no additional charges for the reconfirmation request.

It is advised by the participating banks to submit only after the year end date.

Yes, you may request for prior year bank confirmations. If the confirmation request letter consists of more than one year end date, you may select multiple financial year end dates when you initiate a confirmation request,
and the system will automatically split the request into multiple requests for the selected year end dates, e.g., three requests for three financial year end dates.
This is because the Bank can only reply one confirmation reply letter for each financial year end.

For your approver’s name to show in the dropdown, you must type in the first 3 letters of your approver‘s name.
Please also make sure that the approver’s account is active.

No, it is not a compulsory field.

Once you have sent the request to the Bank, there is no option to cancel the request. However, there is a. correspondence box in the detailed view of each request, where you can inform the Bank to reject your incorrect
request.

You will need to submit your confirmation request letter every year, as there may be changes in the client’s authorised signatories or company stamp or change of the auditors.

No. Client creation is a one-time process. You must ensure both the company number and the company name is as per the audit report. You may use the same client information for the next audit cycle.

No, approver can only view, add remark, download pdf and change status of the request. (approve or disapprove).

The bank reply letter will be kept for a period of 6 months from the first Bank Confirmation Reply date; OR 1 month from the last Bank Reply date (if there is any reconfirmation request), whichever is later. The PDF file will be deleted without notice given.

You may refer to https://econfirm.my/participating-banks/ to view all of the onboarded Banks thus far.

No fee will be charged if the Bank rejects the confirmation request.

No additional fee will be charged for reconfirmation requests.

The usage fee is additional to the Bank’s charges for bank confirmations (charged directly from the Bank to client’s account).

The charges vary from Bank to Bank. You may refer to the Bank’s website for the Bank’s charges or check with the officers at Bank’s branches.

You may email Support team at [email protected], or
WhatsApp the Support Hotline number at +6011-1950 0000.

You may provide the Support team with your request ID, screenshots of the request, respondent Bank name & Bank branch (if applicable). The Support team will assist to prompt the respondent Bank to respond as
quickly as possible or provide you with clarification on any processing delays.
At the same time, feel free to use the correspondence box located in the detailed view of each request which enables you to communicate your messages to the Bank directly through the system.

Please visit MIA‘s website via this link https://www.mia.org.my/v2/smp/electronic.aspx.