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® Accounting 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 Accounting 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 Accounting 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.

Meeting Date/Venue Papers presented by MASB
IASB Emerging Economies Group (EEG) Meeting  2020 November 30-December 1
Virtual Meeting
AP9A Accounting treatment for acquisition of additional stake in a joint venture without a change in joint control

AP9B Post-implementation Review of IFRS 10, 11 and 12
2020 May, 11-12
Virtual Meeting
AP6B Primary Financial Statements
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

2012 May, 28-29
Buenos Aires, Argentina
AP 1: Issues Paper on IAS 41 Agriculture
IASB Islamic Finance Consultative Group Meeting     

2024 May 8 – 9
Hybrid Meeting: Virtual and Manama, Bahrain

AP4: Review of Financial Statements of Islamic financial institutions

AP4A: Updated review of Islamic financial institutions’ financial statements

2022 December, 1-2
Hybrid Meeting: Virtual and Hilton Kuala Lumpur, Kuala Lumpur, Malaysia
AP1: MASB’s Standard-setting activities and due process

AP2: Application of Malaysian Financial Reporting Standards to Islamic Social Finance Transactions

AP3: Applying IFRS to Linked Transactions—Update to the 2018 IFCG Paper 
2018 March, 27
Dubai, UAE
AP1: Applying IFRS to examples of linked transactions

AP4: AOSSG Islamic Finance Working Group: Reporting Islamic Financial Transactions under IFRS
2017 July, 13
Jakarta, Indonesia
AP1: Status of IFRS adoption amongst IFCG members

AP4A: Mudarabah and expected credit loss under IFRS 9

AP4B: Musyarakah financing and its classification under IFRS 9

AP4C: IASB Discussion Paper on Principles of Disclosure
International Forum of Accounting Standards Setters (IFASS) Meeting 2023 April, 19-21
Norwalk, USA
Application of Malaysian Financial Reporting Standards to Islamic Social Finance Transactions
2023 January, 12
Virtual Meeting
Transition Relief and Ongoing Practical Expedients in IFRS 16 Leases (Joint presentation with Australian Accounting Standards Board)
2022 March, 7-8
Virtual Meeting
Non-current Liabilities with Covenants

Post-implementation Review of IFRS 9–Classification and Measurement
2017 March, 2-3
Taipei, Taiwan
Evidence-based accounting research and standard setting

Case study on IFRS 15 and IAS 37
2011 March, 24-25
New York, USA
IAS 41 Agriculture
2010 September, 18-19
Rome, Italy
IAS 41 Agriculture
Asian-Oceanian Standard-Setters Group (AOSSG)
AOSSG Annual Meeting

2023 November, 21-22
The Westin, Brisbane,
Australia

Applying Materiality Judgments: Research findings from New Zealand and Malaysia

[Click here for the Research Report on Making Materiality Judgements – Malaysian Preparers and Auditors’ Perspectives]

2022 November, 15-16 
Hybrid Meeting: Virtual and
The Soaltee Katmandu, Nepal
Preliminary feedback on IASB Exposure Draft ED/2022/1 – Third edition of the IFRS for SMEs Accounting Standard

Status of IFRS for SME adoption in AOSSG member jurisdictions

Research on the Use and usefulness of the transition relief and practical expedients in IFRS 16 Leases - Evidence from Australia and Malaysia (Joint presentation with Australian Accounting Standards Board)
2021 November, 23-24
Virtual Meeting

Lessons from IFRS 16 Leases transition relief and practical expedients (Joint presentation with Australian Accounting Standards Board)

Islamic finance: Adoption of IFRS 17 and Takaful

2020 November, 23-25
Virtual Meeting
IASB Request for Information: Comprehensive Review for IFRS for SMEs Standard
2019 November, 11-13 
Goa, India
Accounting Policy Choices in IFRS
AOSSG Interim Meeting 2022 September, 15
Virtual Meeting
Sharing of MASB’s works on Islamic Financial Reporting
2021 September, 17
Virtual Meeting
Implementation of IFRS 17 Insurance Contracts – Process adopted by MASB
AOSSG Working Group Meeting 2021 September, 22
Virtual Meeting
Subsidiaries without Public Accountability: Disclosures
  Working Group Papers presented by MASB
  Islamic Finance

Updated review of Islamic financial institutions’ financial statements by AOSSG Islamic Finance Working Group

Islamic Finance: Adoption of IFRS 17 and Takaful

Survey on IFRS 16 Leases and Ijarah

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

  IFRS for SMEs

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

Report of AOSSG Survey on the IFRS for SMEs Standard

Analysis of Application of IFRS for SMEs in AOSSG and Survey of Application of IFRS for SMEs in AOSSG

  Past Working Group -Agriculture

Agriculture: Bearer Plants (Amendments to IAS 16 and IAS 41)

Issues Paper on IAS 41 Agriculture