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TITLE: MASB Expands Its Role in MFRS Application and Implementation

DATE: 28/01/2019

28 January 2019
Circular No. 11/2019

TO ALL ACCOUNTANTS

MASB EXPANDS ITS ROLE IN MFRS APPLICATION AND IMPLEMENTATION

The Institute would like to inform members that the Malaysian Accounting Standards Board (MASB) today announced the establishment of the MFRS Application and Implementation Committee (MAIC).

MAIC is entrusted to look into issues where there are existing and potential divergent practices as well as facilitating consistent application and implementation of the Malaysian Financial Reporting Standards (MFRS). A representative from the Malaysian Institute of Accountants (MIA) will be one of the members of MAIC, which will be chaired by a member (either current or former) of the MASB Board.

Henceforth, the Financial Reporting Standards Implementation Committee of the MIA will no longer be issuing any further FRSIC consensus.

Please be guided accordingly.

DR. NURMAZILAH DATO' MAHZAN
Chief Executive Officer