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Submit an Issue to MAIC

Any individual or organisation may submit an issue for consideration by the MAIC. Before submitting an issue to MAIC, the individual or organisation should evaluate the issue basing on the criteria listed in the ‘Reasons for MAIC to address the issue’ section below 

Submission of issue should include, at a minimum, the following information.

  • Submitter’s name, organisation’s name, address, contact number, email address and date of submission for the purpose of the MASB secretariat’s record.
  • The Issue. A description of the issue including, where relevant, any aspects that should be addressed separately.
  • Current practice as observed by the Submitter. A brief description of current or emerging accounting practices, outlining the major alternatives and referring to the relevant requirements in MFRS.
  •  Reasons for MAIC to address the issue.

The issue should be evaluated using the following criteria:

i. Is the issue widespread and has, or is expected to have, a material effect on those affected?

ii. Is the issue unique to Malaysia by virtue of the circumstance prevailing in Malaysia, for example as a result of the local laws or prevailing Act?

iii. Would financial reporting be improved through the elimination, or reduction, of diverse reporting methods

iv. Can the issue be resolved efficiently within the confines of MFRS and the Conceptual Framework for Financial Reporting?

v. Is the issue sufficiently narrow in scope that MAIC can address the issue in an efficient manner and that, the issue is not being addressed in a forthcoming Standard and/or a research project undertaken by the MASB and/ or IASB. 

The Secretariat may seek clarification from the Submitter and all information provided by the Submitter will be treated with strict confidentiality and will be kept for record purposes.

To submit the issue online, please click here, or by email to technical@masb.org.my

Issue can also be submitted through post to:

Malaysian Accounting Standards Board
Unit 13A-1, Menara MBMR,
1, Jalan Syed Putra,
58000 Kuala Lumpur.