The Malaysian Accounting Standards Board (MASB) in collaboration with the IFRS Foundation and the Malaysian Institute of Accountants (MIA) organised a two-day workshop on the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) issued by the International Accounting Standards Board (IASB) in July 2009 at Le Meridien Hotel on 30 June and 1 July 2014.
In February 2014, the MASB issued a new financial reporting framework for private entities called the Malaysian Private Entities Reporting Standard (MPERS) which is word-for-word the IFRS for SMEs except for the requirements on income tax and property development activities plus some terminology changes. The MPERS takes effect for financial statements beginning on or after 1 January 2016.
The workshop provided an insight for private entities into the requirements of the IFRS for SMEs and was helpful for those seeking to develop in their capacity to provide subsequent training to others on MPERS or IFRS for SMEs.
Please click here for more information on the Workshop.