IFRS S1: Understanding the Basis for Conclusions and Accompanying Guidance
IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information sets out how companies should disclose sustainability-related financial information to the public. This may include information about how sustainability-related risks and opportunities—such as climate change and social issues—could affect a company’s business, prospects, cash flows, access to finance or cost of capital. The Basis for […]
IFRS S2 Basis for Conclusions: Understanding the Reasoning Behind Climate-Related Disclosures
The Basis for Conclusions accompanying IFRS S2 Climate-related Disclosures explains the reasoning behind the standard. It provides insight into how and why the requirements were developed, helping users understand the considerations, discussions and conclusions reached by the standard-setting body. Understanding the Rationale Behind IFRS S2 The Basis for Conclusions helps answer questions such as: It […]
Handbook of the International Code of Ethics for Professional Accountants, Volume 1
The Handbook of the International Code of Ethics for Professional Accountants, Volume 1 serves as an international ethical framework for professional accountants. Its purpose is to help accountants understand how to perform their work ethically and responsibly, regardless of where they work or which area of accounting they practise. The Handbook establishes internationally recognised principles […]
International Code of Ethics for Professional Accountants, Volume 2: Ethics and Independence in Sustainability Assurance
The Handbook of the International Code of Ethics for Professional Accountants, Volume 2 focuses on the ethics and independence requirements applicable to professionals who perform sustainability assurance. Sustainability assurance involves independently assessing whether a company’s environmental and social information is accurate, reliable and fairly presented. Today, stakeholders want to know that businesses are not only […]
What Does an Audit Really Do? A Practical Guide for Business Owners and Accountants
Audit is not about creating trouble, finding fault or assuming that management cannot be trusted. It is an independent, systematic review that helps assess whether a company’s financial statements are reliable, whether the reported figures are supported by evidence and whether the company’s financial reporting can withstand scrutiny. In simple terms: An audit is like […]
IFRS and MFRS: A Practical Standards Comparison
The International Financial Reporting Standards (IFRS) and Malaysian Financial Reporting Standards (MFRS) frameworks are closely aligned. In many cases, an MFRS standard corresponds directly to an equivalent IAS or IFRS standard. The main difference is the numbering and naming used in Malaysia. In addition, Malaysia has not yet adopted IFRS 18 Presentation and Disclosure in […]
MIA By-Laws 20.2: Expanding the Ethical Responsibilities of Accountants
The MIA By-Laws 20.2, updated in January 2026 and effective on 15 December 2026, represent more than a cosmetic revision. The update reflects a significant alignment of Malaysia’s ethical and professional practice requirements with global developments, particularly those issued by the International Federation of Accountants (IFAC) and the International Ethics Standards Board for Accountants (IESBA). […]
IPSASB SRS 1: Climate-Related Disclosures for Governments and Public Sector Entities
IPSASB SRS 1 Climate-related Disclosures is an international standard designed to help governments and public sector organisations report clearly on how climate change affects their operations, finances and responsibilities, and how they are responding to related risks and opportunities. The standard promotes openness and transparency so that citizens, investors, policymakers and other stakeholders can better […]
IPSASB SRS 1 AAG: Climate-Related Disclosures for Governments and Public Sector Entities
IPSASB SRS 1 AAG (“At a Glance”) is an easy-to-read summary of the new climate-related disclosure standard for governments and public sector entities. It explains why the standard matters, who it applies to, what entities need to report and when the requirements take effect. The objective is to help the public understand how climate-related risks […]
Financial Shenanigans: Looking Beyond Profit to Understand Financial Reports
Many people ask whether financial statements can still appear “too good to be true” after they have been audited. One of the most valuable lessons from Financial Shenanigans is the reminder that we should never look at profit in isolation. A company may not engage in outright fraud, yet still make its performance appear stronger […]