Companies Commission of Malaysia (SSM) MBRS XBRL Mandate

Malaysia’s SSM introduced an XBRL reporting mandate for public and private companies listed with it in a phased manner starting from November 2018. IRIS has since been helping Malaysian companies to create and submit high-quality XBRL financial reports to the SSM.

See how it works Book a demo

Format for Digital Reporting

Digital Filing Portal

Registered Companies

Over 0 M

SSM MBRS Mandate - A Closer Look

Malaysia’s Suruhanjaya Syarikat Malaysia (SSM) introduced a digital reporting platform called Malaysian Business Reporting System (MBRS) in 2018 and directed the companies under its purview to submit annual financial statements in the XBRL format, as opposed to the printed reports they had been preparing. The XBRL mandate was phased in from November 2018.

The MBRS system receives financial statements, annual returns, and exemption applications related to the financial statement and annual return applications from all Malaysian companies other than those in banking, finance, and insurance (which are regulated by Bank Negara Malaysia).

MBRS was introduced to add value to financial reporting in Malaysia by making digital reports accessible to all stakeholders of corporate information, improving the quality of financial disclosures, and facilitating continuous audits. However, the adoption of XBRL by Malaysian companies continues to be voluntary.

The XBRL format mandated by SSM facilitates modernized reporting by doing away with painstaking manual processes and bringing in automated processing of business information.

XBRL, being a machine-readable format, helps computers interact with data by storing, exchanging, and presenting information in ways that facilitate analysis and interpretation.

XBRL speeds up data processing and production while helping clean up the data through validation checks. The format provides high-quality data for further analysis.

The large volume of data being filed with SSM can be pooled for analytics purposes. Stakeholders of the data can study industry or sector-wide trends for better decision-making.

Diverse Clientele: IRIS CARBON® has been the preferred XBRL-based regulatory compliance products and services provider for leading organizations around the globe since 2005.
Comprehensive Experience: We have more than 350 XBRL professionals with over 17 years of experience in regulatory compliance reporting. We have facilitated 5+ million regulatory filings globally.
Unparalleled Quality: We consistently rank no. 1 for XBRL reporting quality in assessments by independent third-party organizations worldwide. We facilitate only the best compliance experience.
Data Security: IRIS CARBON®’s SOC 2, ISAE 3000 & 3402 certifications indicate our relentless dedication toward data security and internal systems integrity.

We at IRIS are proud to be at the forefront of efforts to develop XBRL as a standard. Our work in XBRL-based compliance reporting spans 17+ years and we have collaborated with over 30 global regulators. We have helped some of the regulators develop XBRL taxonomies.

Apart from filings with the MBRS, we also facilitate XBRL and inline XBRL filings with the US SEC and FERC, the UK’s FCA and HMRC, and South Africa’s CIPC. We also help European Companies comply with the European Single Electronic Format (ESEF) mandate.