This article first appeared on Focus Malaysia
KPMG Malaysia managing partner Datuk Johan Idris, who sits on MIA’s steering committee on IR, says incorporating IR is an important step towards companies producing clear, concise and comprehensive reports.
Generally, an annual report consists of two parts – the financial statements and the corporate reporting. The first is governed by the Malaysian Financial Reporting Standards (MFRS) accounting standards and are mandated. However, corporate reporting is narrative and this gives companies more room to maneuver.
Datuk Johan notes that when people think of corporate reporting these days, they are put off by how voluminous it is. “It is not about being voluminous, it is about the quality of the reporting,” says Datuk Johan.
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