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Are your financial statements MBRS ready?

Malaysian Business Reporting System (MBRS) Services.

MBRS

About MBRS

On 27 September 2018, Suruhanjaya Syarikat Malaysia (SSM) launched Malaysian Business Reporting System (“MBRS”), a digital submission platform based on eXtensible Business Reporting Language (XBRL). MBRS allows for the digital submission of:

  • Financial Statements (“FS”);
  • Annual Returns (“AR”); and
  • Exemption Applications (“EA”) which relate to FS and AR applications.

Mandatory implementation of Annual Returns, Certificate for Exempt Private Company (EPC) and Unaudited Financial Statements have been made mandatory nationwide based on the implementation schedule below:

Zones

States

Implementation Dates

Central Zone

Kuala Lumpur and Selangor

November 2018

Southern Zone

Negeri Sembilan, Melaka and Johor

January 2019

Eastern Zone

Pahang, Kelantan and Terengganu

January 2019

Northern Zone

Perlis, Perak, Kedah and Pulau Pinang

February 2019

East Malaysia

Sabah, Sarawak and Labuan

March 2019



Latest Updates on Malaysian Business Reporting System (MBRS)

Suruhanjaya Syarikat Malaysia (SSM)'s digital reporting platform - Malaysian Business Reporting System (MBRS), is now into its second year of implementation.

Since its launch on 27 September 2018, a high volume of Annual Returns and Financial Statements have been submitted digitally on MBRS.

Submission of Annual Returns, Certificate for Exempt Private Company (EPC) and Unaudited Financial Statements has been mandatory nationwide from 31 March 2019. Submission of Financial Statements will be made mandatory in 2021. The latter notwithstanding, SSM has been actively encouraging companies to proceed with the voluntary submissions of Financial Statements before 2021. The high volume of Financial Statements submitted to-date on MBRS is testament to that impetus.

SSM has in July 2020, actively resumed its MBRS trainings after a short hiatus due to Covid-19. This resumption is consistent with SSM's impending mandatory implementation of Financial Statements in 2021. In tandem, KPMG is extending the same support to our clients by resuming our firm's MBRS trainings which are certified by SSM.

WHY KPMG?

KPMG is SSM's appointed Master Trainer and Training Service Provider on MBRS. Since 2018, KPMG has actively been training the public in nationwide MBRS trainings organised by SSM and we are also the Master Trainer appointed by SSM to train other MBRS Training Service Providers in the market. As certified trainers, KPMG has also been collaborating jointly with SSM to conduct our own SSM-sanctioned MBRS trainings to the public.

Why now and not later?

We encourage you, our clients to consider early preparations for your digital transition to MBRS in anticipation of the mandatory implementation of MBRS for Financial Statements in 2021. As a start, we recommend getting yourselves trained on the MBRS system. The system currently in use for submissions of Annual Returns and Financial Statements is the same applicable system during mandatory implementation and any learning invested now will be deployed to good use upon mandatory implementation later.

You may also want to consider voluntary submission of your company's Financial Statements this year if you have not done so. KPMG has the skilled resources to assist you in this regard.

There are upcoming training sessions planned for August and September 2020 and we encourage you come onboard our trainings and embark on your MBRS journey with KPMG soonest possible. We are here to assist you in your transition.

MBRS
MBRS

KPMG offers:

MBRS Trainings

1)     MBRS Training

MBRS Training

MBRS For Preparers – Financial Statements

(2-Day Physical Classroom Session)

RM800 (exclusive of 6% SST) per participant

Fast-Track MBRS For Preparers – Financial Statements [New]*

(8-hour Online Session over 2 days):

RM400 (exclusive of 6% SST) per participant


Click Here to Register

For more information on MBRS training, please contact Tashriefah or Nurshameera

Tel: 03-7721 7765/7794

Email: mbrs@kpmg.com.my

Download the e-Flyer 

MBRS Services

KPMG provides hassle-free solutions that will greatly ease your digital transition to MBRS.

For more information on MBRS outsourcing services, please contact Tan Mei Ching or Nur Liyana.

Tel: 03-7721 7827/7692

Email: mbrs@kpmg.com.my

Download the e-Flyer