AASB, MASB, and CPA Australia Launch Joint Research Report Addressing Key Accounting Challenges

Monday, May 26, 2025

The Australian Accounting Standards Board (AASB), the Malaysian Accounting Standards Board (MASB), and CPA Australia have today released AASB Research Report 24 / MASB Research Report 3 – Addressing Key Accounting Challenges. This joint Report, informed by a collaborative survey conducted in January 2025 and a review of published financial statements, provides valuable insights into stakeholder perspectives on accounting issues that warrant attention and prioritisation. The findings of the joint Report will serve as a meaningful contribution to the International Accounting Standards Board (IASB) as it prepares for its forthcoming Fourth Agenda Consultation.

The research is divided into two main sections:

Part A: IASB Agenda Priorities – This section summarises stakeholder feedback on critical areas for IASB’s consideration. Key topics include enhancing operating segment reporting, introducing standardised pollutant pricing disclosures, and re-examining high-priority areas like the development of cryptocurrency accounting standard and going concern disclosures. Stakeholders also identified other areas for improvement, such as discount rates, contingent consideration, and government grants, citing inconsistencies and the need for clearer guidance. A strong call was made for better connectivity between the IASB and the ISSB to align financial and sustainability reporting.
Part B: Segment Reporting Analysis – This section presents a comparative analysis of segment disclosures by the top 50 listed entities on the Australian Securities Exchange (ASX) and Bursa Malaysia (BM). Findings indicate that IFRS 8 Operating Segments are largely well-applied, with alignment to internal reporting structures. The Report recommends, among others, greater clarity in Chief Operating Decision Maker (CODM) identification and clearer segmentation bases to enhance international comparability.

Dr. Keith Kendall, Chair of the AASB, commented on the importance of the research: "This collaboration marks a significant step forward in addressing key accounting challenges faced by stakeholders. The findings provide critical insights that will support the IASB in refining its future work plan, with a focus on clarity, consistency, and international alignment."

Tan Sri Mohd Nasir, Chair of the MASB, added: "We are proud to have partnered with AASB and CPA Australia on this initiative. The comparative analysis between Australia and Malaysia reinforces the value of cross-border collaboration in strengthening financial reporting integrity, driving transparency and building a more resilient global economy.”

Chris Freeland, CEO of CPA Australia, further highlighted the importance of the partnership: "This research reflects our commitment to enhancing financial reporting across the region. Our collective efforts ensure that the perspectives of our members and other stakeholders are brought to the forefront of international standard-setting."

The Report will be available for download on the AASB, MASB, and CPA Australia websites following the launch events.

Access the infographic summarising the research report.

Access the AASB Research Report 24 / MASB Research Report 3 - Addressing Key Accounting Challenges.