TECHNICAL
COVID-19 and Valuation – Part 2
June 08, 2021
TECHNICAL

COVID-19 and Valuation – Part 2

This is the second and final part of the COVID-19 and Valuation series.

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Transitioning to MPSAS
June 04, 2021
TECHNICAL

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.

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1 year ago
COVID-19 and Valuation – Part 1
June 02, 2021
TECHNICAL

COVID-19 and Valuation – Part 1

This is the first of two parts in the COVID-19 and Valuation series.

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1 year ago
Test of Controls: Effective Methodology to Improve Audit Fieldwork Efficiency (Part 2)
May 12, 2021
TECHNICAL

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.

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Test of Controls: Effective Methodology to Improve Audit Fieldwork Efficiency (Part 1)
May 10, 2021
TECHNICAL

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?

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1 year ago
Practice Review’s Key Findings on Acceptance and Continuance of Client Relationships and Specific Engagements
May 04, 2021
TECHNICAL

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”.

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1 year ago
Simplifying the Principles of Attribution of Profits to PE
April 21, 2021
TECHNICAL

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.

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1 year ago
MFRS 3: Purchase Price Allocation in a Business Combination
March 10, 2021
TECHNICAL

MFRS 3: Purchase Price Allocation in a Business Combination

The article provides an overview on the practical aspects of purchase price allocation (PPA) including how fair values of intangible assets and goodwill are ascertained on a business combination event under MFRS 3.

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1 year ago
Financial Reporting Disclosures: Driving Compliance Towards Better Communication in Financial Reporting
March 04, 2021
TECHNICAL

Financial Reporting Disclosures: Driving Compliance Towards Better Communication in Financial Reporting

In providing guidance to members on good financial reporting, the Financial Statements Review Committee (FSRC or the Committee) wishes to highlight common deficiencies arising from the review of financial statements of public listed entities for the review period from July 2019 to June 2020.

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1 year ago
Transfer Pricing Guidance on COVID-19 Impact – Part 2
March 02, 2021
TECHNICAL

Transfer Pricing Guidance on COVID-19 Impact – Part 2

This article is a continuation of Part 1 covering guidance on the transfer pricing implications of the COVID-19 pandemic (the Guidance Note) issued by the Organisation for Economic Cooperation and Development (OECD).

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1 year ago