The History of Auditing
The profession of auditing has been around for a significant amount of time. It has traditionally been concerned with accounting for government activities and examining the work done by tax collectors. Today, accounting records are required to be kept to comply with various pieces of legislation; however, in the past, this was not the case. […]
Amendments to MFRS 137 on Onerous Contracts – Cost of Fulfilling a Contract
On 14 May 2020, the IASB issued ‘Onerous Contracts — Cost of Fulfilling a Contract (Amendments to IAS 37)‘ amending the standard regarding costs a company should include as the cost of fulfilling a contract when assessing whether a contract is onerous. As a result, the Malaysian Accounting Standards Board (“MASB”) issued the amendments to […]
