Following the recent Annual Dialogue 2022 conducted by Suruhanjaya Syarikat Malaysia (SSM) on 6 October 2022, SSM provided the presentation slides and Summary of Issues and Feedback for the public.
Issues that have been addressed include:
Stability of the System:
There are frequently occurring errors, buffering, and erroneous logouts.
Prolonged duration of time spent waiting for resubmission.
After the AR was placed, the user did not receive a notification email.
Payment Method:
receipts are not issued, and the user is promptly logged out of their account.
It takes a very long time for the approval process to complete to confirm that the fee payment was received.
Feedback:
(a) System Improvements:
SSM thanks and takes every suggestion seriously considered in the ongoing MBRS Enhancement Project before submitting Financial Statements and Reports, respectively, mandatory in 2024.
The system being developed has gone through the benchmarking process and uses the same taxonomy, dictionary and methods as other countries, which have been using the XBRL Format for a long time, including Singapore and meet the provision of approved accounting standards.
After the improvement to the MBRS System has been finished, one of the enhancements that will be implemented is that the data on the financial statements that are already accessible in the MBRS System will be integrated with the data currently held by the Inland Revenue Board.
(b) Payment Method:
The method of making payments through the MBRS system is undergoing enhancements which will be varied through the introduction of eWallet services. This is being done to lessen the number of technical issues that occur between the SSM system and the Payment Gateway.
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