XBRL Adoption: An Examination on the Malaysian Business Reporting System (MBRS) (original) (raw)
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XBRL Adoption in Malaysia: Perception of the Accountants and Auditors
This study investigates the perception of accountants and auditors on the impact of XBRL adoption in Malaysia. This study also examines the possible challenges and strategies for XBRL adoption success. Using questionnaire survey, this study show that the accountants and auditors perceived the impact of XBRL adoption would be on business decision-making, regulatory compliance, continuous reporting, financial reports availability and analysis, and continuous auditing. This study also shows that lack of accounting qualification and lack of training are among the challenges for XBRL adoption in Malaysia. The implication of this study is that the accountants and auditors need to be given exposure on XBRL taxonomies and voluntarily filing programs. This study provides understanding to the government, regulators and standard setters on strategizing the initiative programs on voluntarily adopting XBRL in future. This would reduce the negative perception on the challenges that might be faced by the accountants and auditors prior to XBRL adoption.
The current research had explored the perceived benefits of adopting the advanced reporting technology program known as eXtensible Business Reporting Language (XBRL). The current research is a continuous research on the awareness of XBRL in Malaysia that focuses on various stakeholders from a financial reporting perspective. This research is considered significant and important to Malaysia's future development of reporting technology, which emphasizes on the expectation of perceived benefits, compatibility and perceived difficulty. The findings of this research have suggested that a few future adopters understand the positive impact of XBRL adoption by the organization pertaining to matters such as financial reporting, audits, users, corporation and compliance. Furthermore, few future adopters had perceived XBRL to be compatible with the current systems. In terms of complexity, a few of future adopters had agreed with the difficulty posed by XBRL adoption. The understanding of perceived benefits from a technological aspect can be improved if the regulators play their role by creating more awareness on XBRL adoption based on various success stories.
Experiences to Voluntarily Adopt Malaysian Business Reporting System MBRS: A Case Study of SMPs
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The Companies Commission of Malaysia (SSM) has established the eXensible Business Reporting Language (XBRL) which is the Malaysian Business Reporting System (MBRS). This study examines the technological, organisational and environmental factors influencing the usage of MBRS among the practitioners. Using interview as the data collection among 12 respondents which are practitioners from selected Corporate Secretaries fom small medium practices (SMPs). Data from interview has analysed based on descriptive coding and pattern coding that developed by Technological, Organisational and Environmental (TOE) theory using the Atlas.ti. The findings of this study indicates seven (7) technological factors which are assurance for data quality, relative advantage and the availability of regulator’s platform and system, limited tools and software, compability of format, compatibility of content and how the mTool could provide ease of use to the corporate secretary. In related to organisational fac...
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The aim of this study is to investigate the perception on relative advantage accrued from using eXtensible Business Reporting Language (XBRL) among various job descriptions and type of organizations from a Malaysian perspective. This study also intended to show the association between perceived relative advantage and intention of future use. The data was collected using questionnaires filled by 350 potential adopters who were associated with the preparation and use of business reporting. The measurement of perception on relative advantage consisted of 21items related to users of financial reporting, preparation of financial reporting, corporations and compliance as well as auditing. This study found mixed findings on the differences of perception towards relative advantage. This study also found that every item regarding relative advantage was associated with the intention of future use. It is hoped that this study would contribute to the preparation of XBRL before embarking on its full adoption and implementation, while improving the awareness, understanding and perception of potential adopters.
International Journal of Financial Research
This study examined the factors influencing XBRL adoption process among the Malaysian regulators in the financial reporting environment. Specifically, this study aims to examine the drivers and challenges in the knowledge and persuasion phase faced by the Malasyain regulators in their adoption process of XBRL. This study relied on two frameworks namely, the adoption process framework with specific focus on knowledge and persuasion, and the TOE framework focusing on technological context. Using a qualitative approach, this study found that within the technological context, relative advantage and trialability were the drivers in the knowledge and persuasion phase. This study also found that the regulators were aware of XBRL and had made efforts to understand the XBRL taxonomy. However, the regulators were needed to develop the internal capability of their organisations since different regulators have shown different factors during the knowledge and acquisition phase that is necessary ...
The Malaysian financial reporting framework is keeping pace with the global development. Thus, from 1 January 2006, Malaysian companies are required to implement all the Financial Reporting Standards (FRS) issued by Malaysian Accounting Standards Board. The new FRS ensures that Malaysian accounting standards are aligned with the International Financial Reporting Standards (IFRS). In addition, Malaysia has set 1 January 2012 as the deadline for full convergence with IFRS which is applicable to all entities except private entities. The convergence with IFRS though challenging will place Malaysian companies and capital market on a level playing field with other international economies and markets. This paper explores the benefits and challenges of FRS in Malaysia from the perspectives of accounting practitioners using questionnaire survey. The findings of the study indicate that the majority of the accounting practitioners viewed that FRS has both benefits and challenges.
Malaysian Private Entities Reporting Standards - Benefits and Challenges to SMEs
International Journal of Academic Research in Business and Social Sciences, 2017
The International Accounting Standard Board (IASB) on 9 th July 2009 had released the International Financial Reporting Standard (IFRS) to be adopted by Small Medium Enterprises (SMEs). It is expected that not less than 35 countries, including Malaysia will adopt this standard. However, Malaysia has adopted its own version of the standard called Malaysian Private Entities Reporting Standards (MPERS). This move has resulted in a mix response among market players including business owners, accounting bodies and also the government. The purpose of this paper is to discuss the benefits and adverse consequences together with the challenges of the adoption of the said standard for SMEs especially in Malaysia.