Page 27 - PowerPoint Template

Malaysian Accounting Standards Board

(MASB)

Established under the Financial Reporting Act 1997

The main functions and authority :

1) Issue new accounting standards [Financial

Reporting Standards (FRS)

2) Review, revise or adopt existing accounting

standards.

3) Issue statements of principles for financial

reporting.

4) Sponsor or undertake development of possible

accounting standards.

5) Develop a conceptual framework for the purpose

of evaluating proposed accounting standards.

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