A Comparative Analysis of Accounting Systems in Malaysia and Pakistan Introduction: You are a financial analyst working for a multinational corporation planning to expand its operations into either Malaysia. Your role involves assessing the financial and accounting environments in both countries; Pakistan and Malaysia, to make an informed decision. To aid your decision-making process, you are tasked with conducting a comparative analysis of the accounting systems in Malaysia and Pakistan. Background Information:  Malaysia and Pakistan are two diverse countries in terms of culture, economy, and regulatory frameworks.  Malaysia follows the International Financial Reporting Standards (IFRS) for financial reporting and accounting standards.  Pakistan, on the other hand, uses the Generally Accepted Accounting Principles (GAAP) for financial reporting and accounting standards. Key Tasks: Accounting Standards and Regulatory Bodies: Compare and contrast the accounting standards and regulatory bodies in Malaysia and Pakistan. Discuss how these standards are developed, maintained, and enforced in each country. Consider the role of organizations like the Malaysian Accounting Standards Board (MASB) and the Institute of Chartered Accountants of Pakistan (ICAP). Financial Reporting Practices: Analyse and compare the financial reporting practices in Malaysia and Pakistan. Discuss the major components of financial statements, formats, and