Accounting and Capital Markets Round-Up

September 2024

Hi,

Here are your articles on accounting and capital market updates for the month.

For further enquiries, please contact us, the Capital Market & Accounting Advisory Services (CMAAS) team at: my_cmaas@pwc.com

Illustrative consolidated financial statements for 31 December 2024 year ends

This publication (free registration required to view) illustrates a set of financial statements prepared in accordance with IFRS^® Accounting Standards / MFRS for a fictitious listed company with a 31 December 2024 year end. There are several amendments to IFRS Accounting Standards / MFRS which companies with 31 December 2024 year ends will need to apply for the first time (refer to our Snapshot for more details).

For purposes of these illustrative financial statements, we have illustrated the impacts of the amendments on classification of liabilities as current / non-current, non-current liabilities with covenants and the supplier finance amendments.

Companies in Malaysia to start applying the ISSB^TM Standards in 2025

The National Sustainability Reporting Standards (“NSRF”) was launched on 24 September 2024, requiring the use of the IFRS^® Sustainability Disclosure Standards issued by the International Sustainability Standards Board (“the ISSB Standards”) as a baseline for sustainability reporting in Malaysia.

Main Market listed issuers with a market capitalisation of RM2bil and above will start applying the ISSB Standards in 2025 (with reliefs), followed by other Main Market listed issuers in 2026. ACE Market listed issuers and large non-listed companies (annual revenue of RM2bil and above) will start application in 2027.

In conjunction with the NSRF, Bursa Malaysia ("the Exchange”) has issued a public consultation paper to gather feedback on proposed amendments to the Main Market and ACE Market Listing Requirements. Apart from reflecting the adoption of the ISSB Standards, the Exchange proposes to retain some of the existing requirements. We encourage you to share your comments on the questions asked in this consultation paper by the due date of 25 October 2024.

September 2024 IFRIC^® Updates

Listen to the latest episode of PwC’s IFRS Talks for an overview of the IFRS Interpretation Committee’s September 2024 meeting, which navigates the scope of different accounting standards for guarantees, accounting for carbon emissions and reflections on the success of the leases standard.

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