The Malaysian Business Reporting System or its acronym, MBRS refers to the submission platform based on the eXtensible Business Reporting Language (XBRL) format. The MBRS allows for the submission of:
- Annual Return (AR);
- Financial Statements and Report (FS); and
- Exemption Applications (EA) related to the FS and AR.
The SSM will implement the roll out of filings through MBRS 2.0 under three phases commencing from 1 December 2024 for various documents and applications as below, under specific formats applicable for each phase:
MBRS Filing Challenges
All companies in Malaysia, including foreign ones, are now required to submit their full financial statements to the SSM in XBRL format. This must be done using MBRS 2.0, which is updated to align with the latest MFRS, MPERS and the Companies Act 2016.
With this alignment, accounting professionals face key challenges such as complex data mapping to MBRS templates, navigating detailed business validation rules, and handling repetitive manual tasks across different entities.