The Malaysian Accounting Standards Board
(MASB) has issued a revised standard on related party disclosures
and a new interpretation.
It has also issued amendments to existing
financial reporting standards (FRSs) and interpretations.
The amendments are in line with the standard
issued by the International Accounting Standards Board.
The new standard is part of the MASB’s roadmap
towards achieving convergence with IFRS by 2012, and to reduce the
gap between IFRS and FRSs.