Helping your transition
to the new FRS environment*
The new Malaysian Financial Reporting Standards (FRS) became a reality for non-private entities in Malaysia w.e.f. 1 January 2006. For public listed companies with a 31 December 2006 year-end, the 1st quarter announcement on 31 May 2006 will be the first published results under FRS.
All players in the corporate reporting supply chain shoulder equal responsibility
The new FRS focuses on greater use of fair values and increased transparency in financial statements and revealing to investors, other key areas like disclosure of estimations and judgements based on business strategies and decision outcomes. However, the transition to the new FRS environment is not expected to be a straightforward process nor, is it likely to be just a technical exercise for the finance function. Do not underestimate the sheer volume and complexity of the work involved.
How we can help
1. FRS Implementation Solutions
We offer a full range of FRS solutions. Our FRS Team will give you the support and guidance you need throughout the implementation process.
Analyse and assess your company’s current status on the requirements of each FRS;
Restatement of comparatives;
FRS compliance deliverables;
Project management including assisting your FRS project team and technical assistance;
Communication strategy to stakeholders.
2. FRS Training Programmes
Looking for an extensive FRS training prgramme on the broad range of FRS-related topics? You are on the right page. The PwC Client Training Team conducts public as well as workshops that are tailored for individual companies or groups on Financial Reporting Standards (FRS).
Company specific FRS workshop at your premise;
General FRS workshop including FRS awareness programmes.
3. FRS/IFRS Updates and Publications
Get insights and perspectives on FRS and IFRS updates from our experienced team. Type "FRS Malaysia" in the search button on the top right of the page for more FRS related articles.
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