MIA Practice Review – Key Findings on Elements of ISQC 1 – Monitoring
Annually, MIA’s Practice Review Department (PRD) issues its Practice Review (PR) report to provide an overview of PRD’s assessment of the audit firms (firms) and share new initiatives and ongoing developments affecting the profession.
September 22, 2021
Goods and Services Tax is Not the Reason for Price Increases in Malaysia
Goods and Services Tax (GST) or Value Added Tax (VAT), had been adopted in 170 countries at the beginning of 2020.
July 21, 2021
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
CPE Compliance Audit – Are You Prepared?
The year end is fast approaching. As such, this is the time of the year for…
November 21, 2022
Decisions of the Disciplinary Committee of the MIA
Decisions of the Disciplinary Committee of Malaysian Institute of Accountants…
November 10, 2022
Capital Allowances – Avoiding Common Errors
The accounting treatments for income, expenses, assets and liabilities presented in the…
December 23, 2022
Public Sector Financial Management Conference 2022 – Spearheading Reforms in the Public Sector for a More Sustainable Future
Strong public financial management processes and systems are essential for effective…