Comptabilitat a Malàisia

Accounting Rules

Tax Year

 The tax year begins on January 1 and ends on December 31 of the same year.

Accounting Standards

Entities generally are required to prepare their financial statements according to Malaysian Financial Reporting Standards (MFRS) equivalent to IFRS, except for private entities that continue to follow Private Entity Reporting Standards (PERS) for financial statements with annual periods beginning before 1 January 2016 and the Malaysian Private Entities Reporting Standard (MPERS - nearly identical to IFRS for SMEs) for financial statements with annual periods beginning on or after 1 January 2016.

Accounting Regulation Bodies

Malaysian Accounting Standards Board

Accounting Reports

Financial statements must include notes and policies, and they are composed of four declarations which appear in the annual report: a declaration of income, a balance sheet, cash flows, the movement of stocks.

Publication Requirements

According to the law, all companies have to publish the following recordings: shareholders' details, details concerning the members of the board of directors, details concerning the expense account and the debt accounts of the company.
Public companies have also to publish their statutory accounts to the shareholders during the annual meeting.

Professional Accountancy Bodies

MICPA , Malaysian Institute of Certified Public Accountants

Certification and Auditing

Independent accountants must analyze the financial statements of public companies. Companies must submit an annual return, directors’ report and audited financial statements to the Companies Commission of Malaysia.
For additional information consult the Institute of Internal Auditors of Malasya website.

Accounting News