Pricing Convertible Securities - The Malaysian Institute Of Certified ...

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24 INSTITUTE NEWSThe Malaysian Accountant61 TOH WEI NING (Ms) Lee Tuck Heng/ Stream I62 WONG KUAN JHUN Lee Tuck Heng/ Stream I63 YEONG RUZHEN (Ms) Gary Lee Yoke Khai/ Stream IMANAGEMENT ACCOUNTING & ANALYSISThe following candidates passed Management Accounting& Analysis to the satisfaction of the Institute:NO NAMEPRINCIPAL/STREAM1 ANG CHONG MIN Lee Tuck Heng/ Stream I2 ARIF RIDA SHABARUDDIN Johan Idris/ Stream I3 BROWN DANIEL Nik Rahmat Kamarulzaman/ Stream I4 CHEN KWOK WEI Abdullah Abu Samah/ Stream I5 CHENG LIN HUI (Ms) Gary Lee Yoke Khai/ Stream I6 CHUAH SOO ZHONG Teoh Soo Hock/ Stream I7 GOH MEI SZE (Ms) Nik Rahmat Kamarulzaman/ Stream I8 HAR HOU WEI Gary Lee Yoke Khai/ Stream I9 HUE KAY RYLN (Ms) Eric Ooi Lip Aun/ Stream I10 LAU ZHI FANG, MICHELLE (Ms) James Chan Kuan Chee/ Stream I11 LIM LI SHEA, ELIZABETH (Ms) George Koshy12 NG SOOK YIN (Ms) Teoh Soo Hock/ Stream I13 PARASARAN SWAMINATHAN Eric Ooi Lip Aun/ Stream I14 SYED AHMAD AMIR AKMAL SYED ABD RAHMAN Lee Tuck Heng/ Stream I15 TAN SOO WEN (Ms) Alex Khaw Hock Hoe/ Stream I16 TAN YI YING (Ms) Alex Khaw Hock Hoe/ Stream I17 TAN ZHI HUI (Ms) Alex Khaw Hock Hoe/ Stream I18 WONG KAH LING (Ms) Loh Kok Keong/ Stream I19 YAM BING JING Theresa Goh Lee Hwa/ Stream IREVISED MICPA PROGRAMMEADVANCED STAGE EXAMINATIONList of Successful CandidatesThe President and Council of the Malaysian Institute of Certified Public Accountants congratulate successfulcandidates who completed the ADVANCED STAGE EXAMINATION of the Revised MICPA Programme to thesatisfaction of the Insititute:NO NAMEPRINCIPAL/STREAM1 AJJRINA ANNUAR (Cik) Stream II2 CHEW LOONG JIN Johan Idris/ Stream I3 LEE CHEE HOW Ng Kim Lian/ Stream I4 MOHD AFIQ MOHD NASIR Stephen Oong Kee Leong/ Stream I5 TAN HUI LYN (Ms) Tan Soo Yan/ Stream I6 WAN NUR SAARAA WAN MANSHOL (Cik) Stream II7 WONG BOON KIN Nik Rahmat Kamarulzaman/ Stream ITERM 3, 2011 EXAMINATIONWINNER OF MODULE PRIZEEthics & Business Application(PricewaterhouseCoopers Gold Medal)Financial Accounting and Reporting(Datuk Oh Chong Peng Gold Medal)AJJRINA ANNUAR (Cik)LOW CHOON WEI (Pass with merit)TERM 3, 2011 EXAMINATIONPERFORMANCE IN INDIVIDUAL SUBJECTSPART MODULE PASSED FAILED% %Advanced Stage Examination Financial Accounting & Reporting 73.6 26.4Management Accounting & Reporting 65.5 34.5Ethics & Business Application 70.0 30.0M a r c h - A p r i l 2 0 1 2 w w w . m i c p a . c o m . m y
The Malaysian Accountant PROFESSIONAL NEWS 25MASB Update (www.masb.org.my)PRIVATE ENTITIES, THE WAYFORWARDThe Malaysian Accounting Standards Board (“MASB”) has recentlyissued Request for Views (“RFV”) on Private Entities, the WayForward, to further seek views from interested parties about thefuture financial reporting framework for private entities in Malaysia.This RFV is issued following comments received with regardto MASB ED 52, Private Entity Reporting Standards, MASB ED 72,Financial Reporting Standards for Small- and Medium-sizedEntities, and MASB ED 74, Amendments to Financial ReportingStandards arising from Reduced Disclosure Requirements. MASBED 52 was issued in 2006 while MASB ED 72 and MASB ED 74were issued in 2010.The RFV seeks feedback on the following broad issues:• Whether replacing the Private Entity ReportingStandards (“PERS”) Framework with a new set ofstandards only in 2015 with the effective date of 2016 is inthe best interest of financial reporting for private entities.MASB is proposing to replace the PERS Framework with a newset of standards only in 2015 with the effective date of 2016 tobe in line with Malaysia’s eXtensible Business ReportingLanguage (“XBRL”) initiative by the Suruhanjaya SyarikatMalaysia (“SSM”).• Whether there are any immediate changes that the PERSFramework requires if private entities continue applyingit until 2015Many constituents, including international parties, haveexpressed concerns that the PERS Framework, which wasdeveloped based on 2003-version of International AccountingStandards, comprises an out-dated set of standards and hasnot kept in pace with the evolving business environment.Various principles of the PERS Framework are also noted to beinconsistent with those of the Malaysian Financial ReportingStandards (“MFRS”) Framework as a result of thedevelopments in financial reporting in recent years.As a practical expedient, MASB may consider reviewing thePERS Framework if there are areas that need immediateimprovement or amendment so as to mitigate the increasingconcerns about the gap differences between PERS and MFRSreporting.• Whether the existing PERS Framework should bereplaced by MASB ED 52, MASB ED 72 or MASB ED 74post-2015According to the results of a survey conducted by MASB in2010, MASB ED 72, which is identical to the InternationalFinancial Reporting Standards for Small- and Medium-sizedEntities, (“IFRS for SMEs”) was found to be the preferred option.It should be noted that the International Accounting StandardsBoard plans to review the IFRS for SMEs soon in order to identifyany implementation issues.MASB also found that there was support for MASB ED 74 inview that its measurement and recognition criteria wereidentical to the MFRS Framework, thereby improvingcomparability of financial statements as well as facilitatingconsolidation with MFRS reporting entities.• Whether the proposed timeframe is sufficient to enable aprivate entity to properly transition to the new financialreporting requirements.Many private entities currently apply the PERS given it is asimpler set of standards. As a consequence, time is required toconduct training and possibly system changes may be requiredto implement the new standards.It is acknowledged that SMEs in Malaysia account for a majority ofthe establishments in economic sectors such as manufacturing,services and agriculture. Taking into consideration theaforementioned concerns and issues, as well as the important rolethat private entities play in the economy, MASB believes that it iscritical for affected parties to provide its feedback on the futurefinancial reporting framework for private entities in Malaysia.Members are encouraged to study the RFV and providefeedback to MASB. The RFV is available on MASB websitew w w . m i c p a . c o m . m y M a r c h - A p r i l 2 0 1 2
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