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MASB: Malaysia’s Final Authority on Accounting Standards

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The approval of accounting standards and related documents in Malaysia is the responsibility of the Malaysian Accounting Standards Board (MASB).

MASB has the final authority to issue accounting standards in Malaysia. No other organisation can officially approve Malaysian accounting standards.

Before a new accounting standard becomes effective:

  • Comments may be invited;

  • Discussions may be held; and

  • An exposure draft may be issued.

However, the final decision on whether the standard is approved rests with MASB.

An Everyday Comparison

Many parties may provide suggestions to Parliament, but Parliament is the body that passes legislation.

Similarly:

  • Many parties may provide feedback on proposed accounting standards; but

  • MASB makes the final decision on their approval.

MASB is Malaysia’s official accounting standard-setter. Overseen by the Financial Reporting Foundation (FRF) and working with international organisations, MASB develops, improves, promotes and monitors accounting standards to help ensure that financial statements are reliable, comparable and useful to those who depend on them.

CCS | Beyond Numbers

MASB：马来西亚会计准则的最终批准机构

在马来西亚，会计准则及相关文件的批准权属于马来西亚会计准则委员会（Malaysian Accounting Standards Board，MASB）。

MASB 拥有在马来西亚发布会计准则的最终决定权。除 MASB 外，任何其他机构都不能正式批准马来西亚的会计准则。

在一项新的会计准则生效之前：

  • 可能会征集公众意见；

  • 可能会进行相关讨论；以及

  • 可能会发布征求意见稿。

不过，最终决定是否批准该准则，仍然由 MASB 作出。

日常生活中的比喻

许多人士可以向国会提出建议，但最终通过法律的机构是国会。

同样地：

  • 许多相关方可以针对拟议中的会计准则提供意见；但

  • 会计准则是否获批准，最终由 MASB 决定。

MASB 是马来西亚官方的会计准则制定机构，在**财务报告基金会（Financial Reporting Foundation，FRF）**监督下，并与国际组织合作制定、完善、推广及监督会计准则，以确保财务报表可靠、可比，并对所有依赖这些报表的使用者具有实用价值。

CCS | Beyond Numbers