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Registrar of Companies Malaysia Quiz

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Questions and Answers

What is the main activity of SSM?

To serve as an agency to incorporate companies and register businesses as well as to provide company and business information to the public.

What is the function of the Commission Companies of Malaysia / Registrar of Companies?

To ensure compliance with business registration and corporate legislation through comprehensive enforcement and monitoring activities.

How does the Financial Reporting Act 1997 define accounting standards?

The Financial Reporting Act 1997 defines accounting standards as 'statements of accounting practices used for the preparation of financial statements'.

What are the main regulatory frameworks that companies in Malaysia are required to comply with when preparing and presenting financial statements?

Companies Act 1965, KLSE Listing Requirements, Securities Commission Revamped Requirement, Financial Reporting Act 1997, and other industry-specific rules and regulations. Signup and view all the answers

What is the role of the Securities Commission in Malaysia's regulatory framework for financial reporting?

The Securities Commission is a statutory body empowered to regulate all matters relating to the securities industry in Malaysia, and it issues guidelines in regulating local listed or unlisted public companies. Signup and view all the answers

What are the objectives of the Financial Services Act 2013 and Islamic Financial Services Act 2013 issued by Bank Negara Malaysia?

The objectives include providing BNM with greater powers to counter future risks to financial stability, increasing consumer protection, promoting competition in the broader financial services sector, and aligning with global trends in financial regulations. Signup and view all the answers

What is the mission of the Securities Commission in Malaysia?

To promote and maintain efficient, secure, and transparent securities and future market, and facilitate the orderly development of an innovative and competitive capital market. Signup and view all the answers

What is the role of the Malaysian Accounting Standard Board?

To develop and issue accounting and financial reporting standards in Malaysia. Signup and view all the answers

What is the function of the Financial Reporting Foundation in relation to the MASB?

To oversee the MASB's performance, financial and funding arrangements, and provide initial views on proposed standards and pronouncements. Signup and view all the answers

What is the role of the Malaysian Institute of Accountants?

To regulate, develop, support, and enhance the integrity and status of the accountancy profession while upholding the public interest. Signup and view all the answers