Financial Reporting Disclosures for Financial Guarantee Contracts
A financial guarantee contract is a contract that requires the issuer to make specified payments to reimburse the holder for a loss it incurs because a specified debtor fails to make payment…
July 1, 2021
COVID-19 Financial Reporting Issues for Entities Using MPERS
MIA’s first e-book – the Interactive e-Book of the MIA Illustrative *MPERS Financial Statements, with Commentaries and Guidance Notes (MPERS Interactive e-Book) is especially relevant in the light of the uncertainty caused by the COVID-19…
June 29, 2021
COVID-19 Impact on Audits of Entities Applying MPERS
MIA held a panel discussion on the impact of COVID-19 on MPERS financial reporting during the launch of the *MPERS e-book. Tan Khoon Yeow, Partner, Learning & Development, BDO highlighted some issues that auditors should note
June 28, 2021
COVID-19 and Valuation – Part 2
This is the second and final part of the COVID-19 and Valuation series.
June 8, 2021
Transitioning to MPSAS
In 2016, the Ministry of Finance issued a letter to all federal statutory bodies (FSBs), encouraging the application of the Malaysian Public Sector Accounting Standards (MPSAS) in their financial statements.
June 4, 2021
COVID-19 and Valuation – Part 1
This is the first of two parts in the COVID-19 and Valuation series.
June 2, 2021
Test of Controls: Effective Methodology to Improve Audit Fieldwork Efficiency (Part 2)
In Part 1 of this article, we have briefly introduced and highlighted the importance of test of controls (TOC), the principles behind TOC as well as the type of TOC and the level of reliability of audit evidence obtained from each type of TOC.
May 12, 2021
Test of Controls: Effective Methodology to Improve Audit Fieldwork Efficiency (Part 1)
What is a test of controls (TOC)? Why is there a need to perform TOC and how can it help in improving audit efficiency?
May 10, 2021
Practice Review’s Key Findings on Acceptance and Continuance of Client Relationships and Specific Engagements
The following are some of the key findings from practice review related to the audit firm’s implementation of one of the elements of quality control (ISQC 1), which is “client acceptance and continuance relationships”.
May 4, 2021
Simplifying the Principles of Attribution of Profits to PE
Most of the tax treaties are developed and concluded between countries based on a treaty framework published by international organisations such as the Organisation for Economic Co-operation and Development (“OECD”) and United Nations (“UN”), among others.
April 21, 2021
Decisions of the Disciplinary Committee of the MIA
Decisions of the Disciplinary Committee of Malaysian Institute of Accountants…
August 17, 2022
Transfer Pricing Characterisation – Why does it matter?
The risk-reward theory in economics states that higher the risk, higher the return.…
August 10, 2022
Brief Hearing Procedure in a Disciplinary Proceeding (Part 2)
It is essential that members understand the procedures of MIA’s enforcement proceedings…