Malaysian Regulatory Compliance

Malaysian Financial Reporting Standards (MFRS) Expertise

As specialists in Malaysian regulatory compliance, we configure Microsoft Business Central and Dynamics 365 systems to ensure full adherence to Malaysian Financial Reporting Standards (MFRS), which align with International Financial Reporting Standards (IFRS). Our expertise covers the complete regulatory framework governing financial reporting in Malaysia.

MFRS Configuration & Implementation

Our team has extensive experience implementing MFRS-compliant financial structures within Microsoft Business Central, ensuring your organization can assert full compliance with IFRS standards as required by the Malaysian Accounting Standards Board (MASB).

Key MFRS Implementation Areas:

• Chart of Accounts Structure: MFRS-compliant account categorization and mapping
• Revenue Recognition: MFRS 15 compliant revenue from contracts with customers
• Financial Instruments: MFRS 9 implementation for financial assets and liabilities
• Lease Accounting: MFRS 16 compliant lease recognition and measurement
• Fixed Assets: Proper depreciation methods and asset recognition under MFRS
• Foreign Currency: Multi-currency translation in accordance with MFRS 121

Malaysian Tax Compliance

We specialize in configuring Business Central's tax engine to handle Malaysia's complex tax environment including Goods and Services Tax (GST) and Sales and Service Tax (SST) requirements. Our implementations ensure accurate tax calculations, reporting, and submission compliance.

Tax Engine Configuration:

• GST/SST rate management and automatic application
• Tax exemption handling for qualified transactions
• Input tax credit management and reconciliation
• Monthly GST/SST return preparation and submission
• Real Property Gains Tax (RPGT) calculations
• Withholding tax automation for vendor payments

Companies Commission of Malaysia (SSM) Compliance

Our implementations ensure seamless compliance with Companies Commission of Malaysia reporting requirements, including automated generation of required financial statements and statutory disclosures.

SSM Reporting Features:

• Automated financial statement generation in MFRS format
• Directors' report and statutory disclosures
• Annual return preparation with financial summaries
• Related party transaction reporting and disclosure
• Audit trail maintenance for regulatory review
• Electronic filing preparation and data extraction

Banking & Payment Integration

We implement robust integration with Malaysian banking systems to ensure compliance with local payment regulations and Bank Negara Malaysia requirements for electronic transactions and reporting.

Local Banking Integration:

• Integration with major Malaysian banks (Maybank, CIMB, Public Bank, etc.)
• RENTAS and IBG payment processing
• Bank reconciliation automation with local statement formats
• Foreign exchange compliance for international transactions
• Anti-Money Laundering (AML) reporting capabilities
• Real-time payment status tracking and confirmation

Industry-Specific Compliance

Beyond general regulatory requirements, we provide specialized compliance configuration for specific Malaysian industries with additional regulatory oversight.

Sector-Specific Compliance:

• Healthcare: Ministry of Health reporting and pharmaceutical tracking
• Manufacturing: MITI industrial reporting and customs documentation
• Financial Services: Bank Negara Malaysia prudential reporting
• Public Listed Companies: Bursa Malaysia continuous disclosure requirements
• Import/Export: Customs Department and international trade compliance
• Construction: CIDB registration and project reporting requirements

Audit & Compliance Support

Our systems are designed to support both internal and external audit requirements, providing comprehensive audit trails and automated compliance reporting to meet Malaysian regulatory standards.

Audit Trail Features:

• Complete transaction history and approval workflows
• User access logging and security compliance
• Document management with version control
• Automated compliance dashboards and KPI monitoring
• Real-time variance analysis and exception reporting
• Regulatory change impact assessment and implementation

Ongoing Compliance Management

We provide continuous support to ensure your systems remain compliant as Malaysian regulatory requirements evolve. Our team monitors regulatory changes and implements necessary system updates to maintain compliance.

Future-Ready Compliance

Our implementation approach considers upcoming regulatory changes and ensures your Microsoft Business Central system can adapt to new requirements without major disruption to your business operations.