The Financial Reporting Foundation (FRF) and Malaysian Accounting Standards Board (MASB) plans to bring Malaysia to full convergence with International Financial Reporting Standards (IFRS) by 1 January 2012.
They also announced 1 January 2010 to be the effective date for FRS 139 Financial Instruments: Recognition and Measurement Standard. By 2012, all approved accounting standards will converge fully with IFRS. This convergence plan will not affect private entities that are currently applying the Private Entity Reporting Standards (PERS).
1 August 2008