PwC Alert (Issue 82): Changes in reporting for financial assets - IFRS 9

Alert 82
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Issue 82: February 2010

FRS 139 Financial Instruments: Recognition and Measurement is effective in Malaysia for annual periods beginning on or after 1 January 2010.

Just as FRS 139 became effective, the Malaysian Accounting Standards Board (MASB) issued a proposal (ED FRS 9) to replace certain of its provisions with effect from 2013.

As a response to suggestions received, MASB is even considering fast tracking the issuance of ED FRS 9 as standard so as to allow entities to early adopt the proposed provisions in 2010 if they so choose to.

Read PwC Alert issue 82 for more on how this affects reporting entities.

PwC Alert is a digest of topical financial and business information for clients and business associates of PwC Malaysia. Whilst every care has been taken in compiling this newsletter, we make no representations or warranty (expressed or implied) about the accuracy, suitability, reliability or completeness of the information for any purpose. PwC Associates Sdn Bhd, its employees and agents accept no liability, and disclaim all responsibility, for the consequences of anyone acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. Recipients should not act upon it without seeking specific professional advice tailored to your circumstances, requirements or needs.