22 April 2022, Kuala Lumpur – 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 organizations 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.