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The Malaysian Financial Reporting Standards (MFRS) framework was introduced by the Malaysian Accounting Standards Board (MASB) and came into effect on 1 January 2012. It
The Malaysian Financial Reporting Standards (MFRS) framework was introduced by the Malaysian
Accounting Standards Board (MASB) and came into effect on 1 January 2012. It is fully compliant
with the International Financial Reporting Standards (IFRS) framework, which enhances the
credibility and transparency of financial reporting in Malaysia
Required:
(a) Further explain development of MASB and the Financial Reporting Foundation (FRF).
(b) List the functions of MASB.
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