Editorial Corrections

Editorial corrections revise minor inaccuracies, including misspellings and numbering or grammatical mistakes. 

These corrections affect only mandatory and core non-mandatory text such as bases for conclusions, illustrative examples and implementation guidance. 

Editorial corrections on 2021 MFRS Bound Volume 

The text of the MFRSs include MFRSs as approved by the MASB for issue up to 31 March 2021 and as required to be applied for annual reporting periods beginning on 1 January 2023. 

The 2021 MFRS Bound Volume has incorporated Editorial Corrections issued by the IASB up to May 2022. The table below lists the Editorial Corrections issued after May 2022 to be read together with the respective MFRSs. 

IASB Published date Title / Contains PDF link
October 2022 MFRS 17 Insurance Contracts

The correction rectifies the erroneous insertion of the word ‘and’ at the beginning of paragraph 65(c) of MFRS 17 Insurance Contracts.

Editorial corrections on documents accompanying MFRSs and/or Technical Pronouncements 

These editorial corrections relate to documents accompanying MFRSs and/or other Technical Pronouncements [Note 1] which do not form part of the 2021 MFRS Bound Volume. Documents accompanying the MFRSs such as Basis for Conclusions, Illustrative Examples and Implementation Guidance are made available on the MASB website and are accessible for download from this link: Malaysian Financial Reporting Standards (MFRSs)-MASB

IASB Published date Title / Contains PDF link
August 2023

Illustrative Examples on MFRS 3 Business Combinations

In the last sentence of paragraph IE11, substitute ‘Entity B’ for the erroneous reference to ‘Entity A’.


December 2021

MFRS Practice Statement 2 Making Materiality Judgements (published in November 2017)

Insert 1 in the caption to the diagram appearing after paragraph 34.


Note 1

For more information, click here:

1) Preface to MASB Approved Accounting Standards

2) Preface to Technical Pronouncements and Guidance