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An Overview of the Malaysian Business Reporting System (MBRS) and eXtensible Business Reporting Language (XBRL)

Expert Speaker J Selvarajah

MYR850.00 (No GST)

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Overview

The Suruhanjaya Syarikat Malaysia (SSM) will be introducing the Malaysian Business Reporting System (MBRS) which allows for the annual submission filing of MFRS and MPERS financial statements, Annual Returns, applications for extension of time and other exemption applications, beginning in 2019.

In preparation of the MBRS launch, SSM has provided an MBRS tool on their website for finance professionals who are responsible for reporting financial statements to familiarise themselves with the functionalities and capabilities of the new system.

The MBRS platform uses the eXtensible Business Reporting Language (XBRL) that SSM will use as part of a global framework for exchanging business information across companies and industries apart from reducing paperwork and manual processes.

This one-day programme is designed to introduce the MBRS filing tool and XBRL reporting language with a high level overview of the various key areas of importance.

What You Will Learn

  • Get an understanding of the scope and requirements of the new MBRS platform introduced by SSM
  • Find out how to use the MBRS platform to file and submit financial statements of a business
  • Learn to effectively use XBRL in reporting the financial statements of a business using the MBRS platform

Who Should Attend

This workshop is suitable for:

  • Those who are responsible for preparing, reporting and auditing financial statements of a business

Programme Outline

Financial Statements

  • Introduction to MBRS and XBRL
  • Basic rules and advantages of XBRL
  • SSM’s Taxonomy
  • Minimum computer requirements for MBRS use
  • The scope of MBRS filing and an overview of the filing process
  • Understanding the MBRS template for financial statements
  • Procedures for incorporating financial statements information into MBRS
  • Auto population of comparative figures (for 2nd year onwards)
  • Validation requirements in the MBRS templates and validation of XBRL filing – generation of the file with validation errors and correction of such errors
  • Minimising validation errors
  • Creation of the zip file for filing by the lodger (Company Secretary)

Exemption Application

  • Understand the 8 types of exemption application and reasons for such application
  • Application for extension of time
  • MBRS using Key Financial Indicators when exemption application approved

Annual Returns

  • Understanding MBRS for Annual Returns filing
  • The 7 steps in the overall submission process
  • Maker and Lodger requirements
  • Validation process
  • Application and renewal process for new Digital Certificate known as POS Digicert for filing purposes

SSM’s Portal

  • Purpose of the SSM portal
  • Information to be downloaded from the SSM portal
  • Filing procedures at SSM portal

Question and Answer Session

Expert Speaker

J Selvarajah is a senior partner of a well-established professional practice in Kuala Lumpur which is a member of an international network of accounting and consulting firms serving a wide range of clients, supported by international committees, task force, frequent meetings and seminars, leading to consistently high standards. He is also the current Chairman of the international network.

He has 46 years of work experience in public practice particularly in external audit and financial reporting for public and private entities, internal audits, corporate governance and risk assessments, company secretarial practice and fraud prevention. He is also the internal auditor for several public listed companies on Bursa Malaysia and SMEs’. He has also performed several investigative audits on accounting malpractices, embezzlement and money laundering. He is also actively engaged in GST Consultancy services for the clients of the practice.

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