Australian and Malaysian Standards Boards Publish First Joint Research

Wednesday, October 26, 2022

The AASB and the Malaysian Accounting Standards Board (MASB) have published their first research paper together marking an important new stage of their partnership.

The Chair of the AASB Dr Keith Kendall and MASB Chairman Datuk Mohd Nasir Ahmad met on 20 October in Kuala Lumpur, Malaysia, to formally announce the publication of the first Research Report titled, ‘Transition Relief and Ongoing Practical Expedients in IFRS 16 Leases’.

This was the second bilateral meeting for the Boards.

The report was the result of a two-year joint effort between the Boards which is intended to help inform the work of the International Accounting Standards Board at both the policy and technical levels.

Datuk Mohd Nasir Ahmad said: “I am very pleased to have this opportunity to meet with the AASB Chair. At the meeting, we had a productive discussion about IFRS implementation activities and possible future joint research work. I hope that we will continue our fruitful exchanges of views and I look forward to more opportunities to collaborate with the AASB on other projects.”

Dr Kendall said: “Thank you to the MASB for hosting the bilateral meeting. We appreciate the value that comes from sharing our respective experiences and perspectives on the implementation of accounting standards in our jurisdictions. In the future, we will continue to promote cooperation on the application and implementation of accounting standards between Australia and Malaysia, and contribute to the development of high-quality, global accounting standards together.”

Please click here to access the AASB-MASB Research Report.



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