MASB launches revised Malaysian Private Entities Reporting Standard (MPERS)

The Malaysian Accounting Standards Board (MASB) today launched the revised Malaysian Private Entities Reporting Standard (MPERS), marking another important milestone in Malaysia’s financial reporting framework for private entities.

The launch was officiated by Dato’ Zainal Abidin Putih, Chairman of the Financial Reporting Foundation (FRF), at the AICB Centre of Excellence. Also, present was Datuk Nor Azimah Abdul Aziz, the Chief Executive Officer of the Companies Commission of Malaysia (SSM), along with Mr. Bertrand Perrin and Ms. Patrina Buchanan, members of the International Accounting Standards Board (IASB).

In his officiating speech, Dato’ Zainal said, “This is indeed a significant event, as it reminds us of the important milestone we witnessed when MPERS was first launched in 2015, and the journey that has brought us to where we are today. Fast forward to today, we are once again on the threshold of another important development — the introduction of the revised MPERS, which is based on the third edition of the IFRS for SMEs Accounting Standard issued by the IASB.”

He added that the revision introduces updates to nearly all sections of the Standard and is fully aligned with the IFRS for SMEs Accounting Standard issued by the IASB, except for changes relating to scope applicability and nomenclature. “Due to the alignment of the section on revenue with IFRS 15 – the revenue Standard in the full IFRS Accounting Standards – our previous guidance on accounting for property development activities prescribed in section 34 is no longer required,” he explained.

Dato’ Zainal further emphasised that the revised MPERS is the result of extensive consultation and collaboration. “MASB has not worked in isolation. The Board has engaged widely with SME preparers, auditors, regulators, and professional bodies. The result is a Standard that is not only technically sound, but also responsive to the needs of those who will apply it.” 

Today’s launch event also featured technical sessions by Mr. Bertrand Perrin and Ms. Patrina Buchanan, who shared insights on the IFRS for SMEs Accounting Standard and the process behind its recent revisions. 

The revised MPERS will be effective for financial statements beginning on or after 1 January 2027, with early application permitted.

END

For enquiries, please contact: