\n<\/p>\n
KUALA LUMPUR, MALAYSIA –\u00a0Media OutReach<\/a>\u00a0–\u00a01
\u00a0<\/p>\n
The two guides have been updated to reflect
\u00a0<\/p>\n
CPA Australia
\u00a0<\/p>\n
“The ability to understand the financial health
\u00a0<\/p>\n
“The framework for
\u00a0<\/p>\n
MIA Chief Executive Officer Dr. Nurmazilah Dato’ Mahzan prioritised the
\u00a0<\/p>\n
To
\u00a0<\/p>\n
“The
\u00a0<\/p>\n
The 2021 edition of the “Guide to
\u00a0<\/p>\n
The 2021 edition of
\nSeptember 2021 – CPA Australia<\/a> and the Malaysian Institute of
\nAccountants (MIA) <\/a>have collaborated to update two important resources for improving
\nthe financial literacy of Malaysian investors and businesses; “A Guide to
\nUnderstanding Annual Reports: Malaysian Listed Companies” and “A Guide to
\nUnderstanding Auditing and Assurance: Malaysian Listed Companies.”<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\ndevelopments in reporting over the past seven years, including changes in
\nnon-financial reporting (such as the Malaysian Code of Corporate Governance
\n2021 and International Integrated Reporting Framework) and auditor reporting requirements.<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nMalaysia Country Head Priya Terumalay said the growing complexity of annual
\nreports and auditor’s reports highlights the importance of educating users so
\nthat they can extract meaning and value from these documents.<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nof a company is a vital skill for investors, entrepreneurs, managers and other
\nbusiness stakeholders. It enables them to identify promising opportunities and
\navoid undue risks, resulting in more strategic economic decisions.<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nreporting and the requirements for auditing and assurance have evolved in
\ntandem with an increasingly complex global business environment. These guides provide much needed clarification
\nand explanation of annual reports and auditor’s reports,” said Priya.<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\ngrowing need for financial literacy to support sustainable economic
\ndevelopment. “As the national accountancy body that puts
\nnation building at the forefront, MIA recognises the need to educate
\nshareholders and other providers of capital who are not conversant in financial
\nreporting standards, auditing and assurance matters as well as certain rules
\nand regulations affecting the financial statements.”<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nfurther improve corporate reporting towards enhanced business sustainability,
\nDr. Nurmazilah highlighted the key new development of value reporting, which is
\nthe formation of the Value Reporting Foundation and ongoing work on the
\nconvergence of integrated reporting and sustainability reporting. <\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nend result of value reporting will be more comparable, consistent and reliable
\ninformation that enables more holistic decision making by businesses and
\ninvestors. The move towards value reporting will also facilitate adoption and
\ndisclosure of environmental, social and corporate governance (ESG) matters,
\nincluding climate change risks which are emerging as the biggest future risk to
\nthe sustainability and survival of businesses and society,” Nurmazilah said.<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nUnderstanding Annual Reports: Malaysia Listed Companies” provides an overview
\nof financial statements and a glossary of financial terminology, among other
\ninsights. This is particularly relevant during company reporting season when
\ninvestors are reviewing their investments and making decisions based on their
\nability to read what’s behind the numbers.<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nthe “Guide to Understanding Auditing and Assurance: Malaysian Listed Companies”
\nis a plain language guide for shareholders and other stakeholders who are not
\nexperts in auditing and assurance, to help them better understand information
\nthey receive from auditors about their companies.<\/p>\n
\n
<\/p>\n