KUALA LUMPUR, April 22 (Bernama) -- The Malaysian Institute of Accountants (MIA) and the Association of International Certified Professional Accountants (the Association), representing the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA), have released a joint report on the adoption and implementation of Integrated Reporting <IR> in Malaysia.

The state of <IR> in Malaysia (2021): An analysis of the constituents of the FTSE Bursa Malaysia KLCI Index report provides insights into the state of integrated reporting among the 30 large companies included in the Index, including the sharing of commendable examples on how organisations disclose their value creation.

The report also highlights that accounting and finance professionals have a key role to play to help companies overcome these challenges and promote a more cohesive approach to reporting. They have the skills and expertise needed to effectively work with stakeholders and enable better decision-making, drive business performance, and foster long-term value creation, all of which are crucial for sustainable success in the modern business world.

Dr. Veerinderjeet Singh, President of the MIA and Ong Chee Wai, then Chairman of the Integrated Reporting Steering Committee of the MIA stated, “MIA has spearheaded the growth of integrated reporting in Malaysia, and we are proud to see our advocacy and capacity building efforts come to fruition. A good number of public listed companies in Malaysia are now producing integrated reports compared to just a few when the integrated report was initially introduced. This could not have been achieved without the collaboration and support of the International Integrated Reporting Council (now the Value Reporting Foundation), our fellow regulators, leading PLCs that pioneered the adoption of integrated reporting and other Professional Accountancy Organisations. We are confident that this new report will help scale up the adoption of integrated reporting in Malaysia and pave the way for better value-based reporting.”

Barry Melancon, CPA, CGMA, CEO at the Association of International Certified Professional, representing AICPA & CIMA, and Board member of the Value Reporting Foundation said, “I am proud to acknowledge the work of the Malaysian Institute of Accountants (MIA) to promote Integrated Reporting in Malaysia.  The strong support in the adoption of integrated reporting by the Securities Commission of Malaysia and Bursa Malaysia is commendable and the outcome can be seen in Malaysia being one of the leaders around the world in adopting integrated reporting. This is indeed a great achievement for the country and the release of the report on the adoption and implementation of integrated reporting in Malaysia provides proof of this”.

Click HERE to download the report.

Malaysian Institute of Accountants (MIA)

Established under the Accountants Act 1967, MIA is the national accountancy body that regulates, develops, supports, and enhances the integrity, status, and interests of the profession in Malaysia.  MIA accords the Chartered Accountant Malaysia or “C.A. (M)” designation. Working closely alongside businesses, MIA connects its membership to a wide range of information resources, events, professional development, and networking opportunities. Presently, there are more than 36,500 members making their strides in businesses across all industries in Malaysia and around the world.

MIA’s international outlook and connections are reflected in its membership of regional and international professional organisations such as the International Federation of Accountants (IFAC) and the ASEAN Federation of Accountants (AFA). For more information on MIA, visit www.mia.org.my

Association of International Certified Professional Accountants, and AICPA & CIMA

The Association of International Certified Professional Accountants® (the Association) represents AICPA® & CIMA®. We advance the global accounting and finance profession through our work on behalf of 696,000 AICPA and CIMA members, students and engaged professionals in 192 countries and territories. Together, we are the worldwide leader on public and management accounting issues through advocacy, support for the CPA license, the CGMA designation and specialised credentials, professional development and thought leadership. We build trust by empowering our members and engaged professionals with the knowledge and opportunities to be leaders in broadening prosperity for a more inclusive, sustainable and resilient future.

SOURCE: Malaysian Institute of Accountants (MIA)

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Thane Meyyappan                                                                              
Tel: +603 2722 9184 / +6012 248 9534                                                   
Email: communications@mia.org.my
 
Name: Vivian Fung
Senior Manager, External Relations, North Asia and Asia Pacific
Tel: +852 35472804
Email: vivian.fung@aicpa-cima.com 

--BERNAMA