 |
 |
 |
 |
 |
Articles
Financial Reporting Standards (FRS) - IP Block
Compliance with FRS are legislated under Financial Reporting Act 1997 [Section 26D].
The numbering of the FRSs corresponds to the IFRSs issued by the IASB. For example, FRS 1 in Malaysia is equivalent to IFRS 1. FRS with a 100 prefix corresponds to its equivalent IASs. Thus FRS 101 is equivalent to IAS 1. FRS with a 200 prefix denotes locally developed Standard with no equivalent International Standard.
| Hence, | FRS 1 = IFRS 1 FRS 101 = IAS 1 FRS 201 = locally developed standard |