Public forum on MASB ED 72 FRS for SMEs

April 2010 – July 2010
Public Forum on MASB ED 72 FRS for SMEs

From April 2010 to July 2010, the MASB secretariat together with the project chairman and manager of the working group on SME jointly held 7 roadshows across the nation covering the following places - 

Date Venue
 7 April 2010  Petaling Jaya, Selangor
 21 April 2010  Kuala Lumpur
 29 April 2010  Kota Kinabalu, Sabah
 30 April 2010  Kuching, Sarawak
 18 May 2010  Kuantan, Pahang
 3 June 2010  Georgetown, Penang
 6 July 2010  Johor Bahru, Johor

The objective of these roadshows was to inform and educate constituents on the IFRS for SMEs and also to seek feedback on which accounting framework these SMEs would prefer. They were given options between the existing Private Entity Reporting Standards (PERS), MASB ED 52 on PERS and IFRS for SMEs.

The roadshows were attended by approximately 1,250 participants who consisted mainly of practitioners and preparers.

MASB was represented by Tony Seah, project chairman of the working group on SME and Danny Tan, project manager of the working group and secretariat. On several of the roadshows, Datuk Ali, FRF Chairman also joined the Forums and gave his closing speeches. The roadshows were also jointly held with the Malaysian Institute of Accountants.