The slides are introduction of the Financial Reporting Standards Implementation Committee (FRSIC) which was presented by the President of the Malaysian Institute of Accountants at the beginning of the FRSIC Roadshow in Petaling Jaya and Kuala Lumpur.

1. ROADSHOW Implementation Guidance on FRS Module 1

2. Complete Reliable Timely Efficient market Proper financial reporting FRSIC Roadshow Module 1 24 March 2009 1 2 Foster investors’ confidence 3

3. FRSIC Roadshow Module 1 24 March 2009 MIA with support from the Capital Market Development Fund (CMDF) formed FRSIC in January 2007

4. FRSIC Roadshow Module 1 24 March 2009 FRSIC provides professional counsel on matters concerning Financial Reporting Standards by way of issuing implementation guidance

5. FRSIC Roadshow Module 1 24 March 2009 30 issues since 2007 . . . 11 consensus reached 4 discontinued 7 rejected 8 on-going projects 8 consensus will be discussed today

8. FRSIC Roadshow Module 1 24 March 2009 Convergence with IFRS : Malaysia Full compliance with IFRS by 1 January 2012. Enhance comparability of financial statements between Malaysian companies and companies worldwide. Globalisation wave - more than 100 countries are converging or have converged to IFRS.

9. FRSIC Roadshow Module 1 24 March 2009 Committee Members Chairman En. Nik Mohd Hasyudeen Yusoff Members Dato’ Nordin Baharuddin En. Mohammad Faiz Azmi Mr. Stephen Oong Ms. Jennifer Lopez (ACCA) Mr. Alex Ooi (CPA Australia) Mr. Ng Kim Tuck (MICPA) MIA Council Members

11. FRSIC Roadshow Module 1 24 March 2009 FRSIC Process Submit issue FRSIC acceptance Research Working Group discussion Issue draft consensus FRSIC deliberation & recommendation MIA Council approval (Practitioners, regulators & industry players)

12. FRSIC Roadshow Module 1 24 March 2009 frsic.mia.org.my [email_address]