The Malaysian Business Reporting System (MBRS) is an online platform by the Companies Commission of Malaysia (SSM) for the digital submission of:
Annual Returns
Financial Statements (Audited and Unaudited)
Exemption Applications
It uses XBRL (eXtensible Business Reporting Language), a global standard that allows companies to present financial data in a structured, machine-readable format to enhance accuracy, efficiency, transparency, and data collection and comparability.
MBRS 2.0 Improvements
MBRS 2.0 is an enhanced platform that streamlines reporting efficiency, accuracy, and compliance. It integrates the latest MFRS, MPERS, and Companies Act 2016 requirements while refining the XBRL taxonomy for better data classification. The system improves user experience with enhanced validation, real-time error detection, and a more intuitive submission process. Additionally, MBRS 2.0 expands filing coverage beyond financial statements and annual returns to include a wider range of compliance documents.
Steps to Prepare Reports for Submission
Ensuring reports are properly prepared is essential for a smooth submission process:
Utilize the MBRS Preparation Tool (mTool): This tool helps users input financial data accurately while ensuring compliance with MBRS formatting requirements, minimizing errors.
Verify All Calculations: Small miscalculations can cause submission issues or rejections, so double-checking figures is crucial.
Adhere to Relevant Standards: Financial reports should comply with the applicable framework, such as Malaysian Financial Reporting Standards (MFRS) or Malaysian Private Entities Reporting Standards (MPERS), based on the business type.
Simplify Your MBRS 2.0 Submission with Our Expert Support
With mandatory MBRS 2.0 filing for financial statements, businesses must ensure compliance with digital reporting and XBRL requirements.
We have a dedicated team of accountants who can assist your business with
1. Preparing financial statements in XBRL format.
2. XBRL tagging and mapping data according to MBRS taxonomy
3. Extracting and tagging financial data from both audited financial statements in compliance with MBRS requirements, ensuring accurate XBRL formatting and seamless submission.
StanleyCO offers comprehensive, end-to-end support, covering everything from company incorporation to corporate secretarial and accounting services, including the preparation and submission of financial statements in XBRL format.
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