The Malaysian Accounting Standards Board (MASB) has countered calls for a temporary exemption from equivalent of IFRS 9

25 March 2020

The Malaysian Accounting Standards Board (MASB) has countered calls for a temporary exemption from MFRS 9 (the Malaysian equivalent of IFRS 9) with a statement reassuring its constituents “that the principle-based nature of the Malaysian Financial Reporting Standards (MFRS) Framework requires and allows for judgement in addressing the accounting challenges arising from COVID-19”.