Introduction to MBRS
On 27 September 2018, Suruhanjaya Syarikat Malaysia (SSM) has launched the Malaysian Business Reporting System or its acronym, MBRS. MBRS refers to the submission platform based on the eXtensible Business Reporting Language (XBRL) format.
MBRS allows for the submission of:
i. Annual Return (AR);
ii. Financial Statements and Report (FS); and
iii. Exemption Applications (EA) related to the FS and AR.
The guiding principles behind the financial and the non-financial scopes for MBRS is based on the Companies Act 2016, Malaysian Private Entities Reporting Standards (MPERS) and Malaysian Financial Reporting Standards (MFRS).
The mandatory submission for annual returns, certificate for private exempt company and unaudited financial statements to SSM are in two phases and by zones from November 2018.
Information on MBRS and the MBRS Preparation Tool (mTool) can be accessed for free at http://www.ssm.com.my/Pages/Services/Other-Services/MBRS.aspx
This 1-day course aims to provide participants with an in-depth understanding of XBRL format and MBRS platform for the purpose of compliance with the requirements contained in the Companies Act 2016. Participants will gain working knowledge on the MBRS filing requirements and how to optimise the use of the mTool to ensure smooth submission of annual returns and financial statements.
1. What is XBRL and how does it work?
2. Introduction to Malaysian Business Reporting System.
3. Components of MBRS: SSM Taxonomy (SSMxT), MBRS preparation tool (mTool), MBRS Portal (mPortal)
4. Compulsory SSM digital signature registration.
5. Submission workflow for AR, FS, EA and key financial indicators (KFI).
6. Install and getting started with the preparation tool.
7. Introduction to SSMxT (SSM Taxonomy).
8. Preparation and filing MBRS Annual Returns.
Shraddha Bagul is a Chartered Accountant and is a member of the institute of Chartered Accountants of India (ICAI). She holds a Diploma in Information System Audits (DISA) and a Diploma in International Financial Reporting Standard (IFRS). Shraddha has sound experience in Internal Audits, Statutory Audits, Financial Reporting, Preparation and Reviewing of Financial Statements, and compliance with statutes. She possesses a good understanding of Accounting Standards, Generally Accepted Accounting Principles (GAAP), and Tax Laws. On top of these, Shraddha is involved in designing, developing, and maintaining various taxonomies with different regulators as well as participating in training programmes on XBRL implementation across the globe.
Jeremy Chua Teck Wee holds a Bachelor’s degree in Accounting, Banking and Finance. He is an experienced external auditor and has audited over 10 large Corporations during his time at one of the Big Four audit companies. Jeremy is well adept in Malaysian Financial Reporting Standards (MFRS) and International Financial Reporting Standards (IFRS). He is also proficient in Malaysian Law practices, specifically in Common Law and Companies Act.
Who Should Attend
- Company Secretaries
- Finance Professionals,
- Business Owners
- Everyone interested to learn about MBRS
By attending this course, participants will be able to:
- Explain MBRS submission requirements.
- Get started with the preparation tool (mTool).
- Prepare and understand the submission process of MBRS Annual Returns.
- Understand the overview of MBRS Financial Statements.
Why choose us?
Formis Network Services receives direct support from OMESTI. We have the advantage of being more knowledgeable on the system and will be able to provide you with assistance on the spot. Exclusive post-event technical support will also be available to all participants.
After over three decades in the industry, OMESTI has evolved to become a leading player in the technology landscape serving clients across key industry verticals including: financial services, institutions, government organisations, telecommunications, media & entertainment, transportation & logistics, utilities and education.
Companies Commission of Malaysia Training Academy Profile
The Companies Commission of Malaysia Training Academy (COMTRAC) was established on 1 April 2007 to spearhead the Companies Commission of Malaysia’s (SSM) external stakeholders training initiatives. Its mission is to train and educate a wide array of corporate role-players consistent with SSM’s functions as stipulated under subsection 17(d) and 18(2) of the Companies Commission of Malaysia Act 2001. The Academy is known as COMTRAC & Knowledge Management Division since 2017. Please visit www.ssm.com.my to find out more about SSM and COMTRAC and its training programmes.