IPSASB SRS ED1: Key Consultation Insights on Climate-Related Disclosures in the Public Sector
Climate change creates significant risks for governments and public sector entities. High-quality climate-related disclosures help investors, citizens, oversight bodies and other stakeholders make informed decisions, while supporting sound financial management and public accountability. The International Public Sector Accounting Standards Board (IPSASB) sought public feedback through SRS ED1 on the development of climate-related disclosure standards for […]
SASB Standards for Restaurants: Turning ESG Risks into Business Insights
The SASB Standard for the Restaurants industry (version 2023-12) provides industry-specific guidance to help restaurants identify and disclose important environmental, social and governance (ESG) issues that may affect their financial performance, operational resilience and reputation. What Are SASB Standards? SASB Standards help businesses identify and report sustainability-related risks and opportunities that are financially material to […]
IAS 28 Exposure Draft: Clarifying the Fair Value Option for Associates and Joint Ventures
In February 2026, the International Accounting Standards Board (IASB) issued an Exposure Draft proposing amendments to IAS 28 Investments in Associates and Joint Ventures. The proposed amendments concern the Fair Value Option (FVO) for investments in associates and joint ventures. Although the subject may appear technical, the core issue is how these investments are measured […]
PwC MFRS Disclosure Checklist for the Financial Year Ended 31 December 2025
The PwC MFRS Disclosure Checklist for the Financial Year Ended 31 December 2025 is a practical tool to help businesses and accountants assess whether their financial statements comply with the latest applicable requirements of the Malaysian Financial Reporting Standards (MFRS). The checklist incorporates standards and interpretations effective during 2025, helping entities identify important disclosure requirements […]
MFRS 108: Disclosing Key Assumptions and Estimation Uncertainty
On 19 December 2025, the Malaysian Accounting Standards Board (MASB) issued a publication titled “Disclosures about Uncertainties in the Financial Statements”. The publication contains six illustrative examples designed to help companies better understand how to disclose uncertainties in their financial statements. The examples are aligned with guidance issued by the International Accounting Standards Board (IASB) […]
MFRS 101: Why “No Accounting Impact” Does Not Always Mean “No Disclosure”
On 19 December 2025, the Malaysian Accounting Standards Board (MASB) issued a publication titled “Disclosures about Uncertainties in the Financial Statements”. The publication contains six illustrative examples designed to help companies better understand how to disclose uncertainties in their financial statements. The examples are aligned with guidance issued by the International Accounting Standards Board (IASB) […]
MFRS 136: Disclosing Key Assumptions and Uncertainty in Impairment Testing
On 19 December 2025, the Malaysian Accounting Standards Board (MASB) issued a publication titled “Disclosures about Uncertainties in the Financial Statements”. The publication contains six illustrative examples designed to help companies understand how to disclose uncertainties in their financial statements. The examples are aligned with guidance issued by the International Accounting Standards Board (IASB) and […]
2025 IAASB Handbook: Building Trust Through Quality Management, Audits and Assurance
The 2025 Handbook of International Quality Management, Auditing, Review, Other Assurance, and Related Services Pronouncements provides a global professional framework for accountants and auditors. It explains how audit and professional firms should manage quality, and how audits, reviews, assurance engagements and related services should be performed to support reliable and credible financial reporting. Key Areas […]
ISA for LCE: A Practical Auditing Standard for Less Complex Entities
The 2025 Handbook of International Quality Management, Auditing, Review, Other Assurance, and Related Services Pronouncements – ISA for LCE is an official publication issued by the International Auditing and Assurance Standards Board (IAASB) under the International Federation of Accountants (IFAC). It provides an international framework explaining how auditors should audit companies, particularly smaller and less […]
MFRS Updates Effective from 2026 and 2027: What Businesses Need to Prepare For
Several important amendments to the Malaysian Financial Reporting Standards (MFRS) become effective for annual periods beginning on or after 1 January 2026. Businesses, accountants and auditors should also begin assessing standards that will become effective from 1 January 2027, particularly where their future impact may be material. Entities with a 31 December 2026 year-end may, […]