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IASB-MASB Discussion Forum on IASB ED on Revenue from Contracts with Customers, Leases, Consolidation & Investment Entities

7 October 2010
IASB-MASB Discussion Forum on IASB ED on Revenue from Contracts with Customers, Leases, Consolidation & Investment Entities

The MASB and the IASB jointly hosted a discussion forum on its recent technical proposals which included topics on revenue, leases, consolidation and investment entities. This is part of both the Boards’ outreach activities to inform, educate and explain the proposals and also to provide opportunities to constituents to discuss and debate these proposals with them. The Forum was held in Bursa Malaysia.

The forum had a favourable response of more than 190 participants which made up of representatives from professional accounting bodies, regulators, preparers and users of financial statements, and academia. There were also active participations from the audience during the forum specifically on the topics of revenue and leases as both of these proposed standards would be affecting a large number of entities.

The IASB was represented by Wayne Upton, Director of International Activities and Barbara Davidson, Technical Manager. During the session on consolidation and investment entities, Alan Teixeira, Director of Technical Activities and Jana Streckenbach, Technical Manager presented the Forum via video conferencing.

MASB was represented by Mohammad Faiz and several Board members. Datuk Ali Kadir, FRF Chairman closed the meeting and several Foundation members also attended the forum.