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Papers Presented

MASB's mission is to develop and promote high quality accounting and financial reporting standards that are consistent with international best practice for the benefit of users, preparers, auditors and the public in Malaysia. In a wider context, MASB seeks to participate in and contribute to the development of a single set of financial reporting standards for international use.

MASB actively monitors and comments on the work of the International Accounting Standards Board (IASB) as it develops the IFRS Standards. Visit this link for the MASB’s submissions to IASB.

In addition, MASB participates directly in some of the IASB standing consultative groups, namely the IASB Emerging Economies Group (EEG) and the Islamic Finance Consultative Group (IFCG). EEG was created at the direction of the IFRS Foundation Trustees, with the aim of enhancing the participation of emerging economies in the development of IFRS Standards. For more information about the EEG, visit this link. IFCG was established by the IASB to focus on challenges that may arise in the application of IFRS Standards to instruments and transactions commonly referred to as Islamic finance. For more information about the IFCG, visit this link.

Apart from working with IASB, MASB works with other national standard-setters within the Asian-Oceanian region, that is, the Asian-Oceanian Standard-Setters Group, AOSSG. The group has been formed to discuss issues and share experiences on the adoption of IFRS and to contribute to the development of a high-quality set of global accounting standards. For more information about the AOSSG, visit this link. MASB currently leads the two AOSSG Specific Topics Working Groups, namely on IFRS for SMEs (visit this link) and Islamic Finance (visit this link). Besides the AOSSG, MASB also participates in the International Forum of Accounting Standard-Setters, visit this link for the IFASS report.

The Papers presented by MASB at the international and regional meetings are listed below. The Papers relate to current financial reporting issues with the aim to improve the quality of financial reporting in the region and internationally.

 

Venue

Papers presented by MASB

IASB Emerging Economies Group (EEG) Meeting 

2018 May, 14 - 16

Malaysia

AP4: Accounting for private entities (MASB presentation)

AP4A: Report of AOSSG Survey on the IFRS for SMEs Standard

AP4B: Application of IFRS for SMEs (amended in 2015) in AOSSG 26-member jurisdictions

AP8A: IFRS 9—The Malaysian Experience (MASB presentation)

AP9: Accounting for ‘involuntary’ public infrastructure costs in a project development

[Source : Click here]

IASB Islamic Finance Consultative Group Meeting

2018 Mar, 27 Mar 

Dubai, UAE

AP1: Applying IFRS to examples of linked transactions

AP1A: Presentation: Applying IFRS to linked transactions

AP4: AOSSG Islamic Finance Working Group: Reporting Islamic Financial Transactions under IFRS

AP4A: Presentation: Update on the Financial Reporting Issues relating to Islamic Finance

[Source: Click here]

Asian-Oceanian Standard-Setters Group (AOSSG)

 Working Group

Papers presented by MASB

Islamic Finance

AOSSG publishes a report on Reporting Islamic Financial Transactions under IFRS

An Update to the 2014 Study of Financial Statements of Islamic Financial Institutions

A Study of Financial Statements of Islamic Financial Institutions

AOSSG Survey – Accounting and Islamic Finance in the Middle East and North Africa

AOSSG Survey – Accounting for Islamic Financial Transactions and Entities

Financial Reporting Issues relating to Islamic Finance

[Source: Click here]

 IFRS for SME

Application of IFRS for SMEs (amended in 2015) in AOSSG 26-member jurisdictions

[Source: Click here]

Report of AOSSG Survey on the IFRS for SMEs Standard

[Source: Click here]

Past Working Group -Agriculture

Issues Paper on IAS 41 Agriculture

[Source : Click here]