Page 130 - SC Annual Report 2018 (ENG)

Securities
Commission
Malaysia
ANNUAL Notes to the
REPORT
2018 financial statements

The Securities Commission Malaysia (SC) is a statutory body established under the Securities Commission
Malaysia Act 1993 for the regulation and development of capital markets. The SC has direct responsibility for
supervising and monitoring the activities of market institutions including the exchanges and clearing houses
and regulating all persons licensed under the Capital Markets and Services Act 2007. The address of the SC is
at:

3, Persiaran Bukit Kiara
Bukit Kiara
50490 Kuala Lumpur, Malaysia

These financial statements were authorised for issue by the Board Members on 30 January 2019.
1. Basis of preparation

(a) statement of compliance

The financial statements of the SC have been prepared in accordance with Malaysian Financial
Reporting Standards (MFRSs) and International Financial Reporting Standards.

The following are accounting standards, amendments and interpretations that have been issued
by the Malaysian Accounting Standards Board (MASB) but have not been adopted by the SC:

MFRSs, Interpretations and amendments effective for annual periods beginning on or
after 1 January 2019
• MFRS 16, Leases
• IC Interpretation 23, Uncertainty over Income Tax Treatments
• Amendments to MFRS 3, Business Combinations (Annual Improvements to MFRS
Standards 2015-2017 Cycle)
• Amendments to MFRS 9, Financial Instruments – Prepayment Features with Negative
Compensation
• Amendments to MFRS 11, Joint Arrangements (Annual Improvements to MFRS Standards
2015-2017 Cycle)
• Amendments to MFRS 112, Income Taxes (Annual Improvements to MFRS Standards
2015-2017 Cycle)
• Amendments to MFRS 119, Employee Benefits – Plan Amendment, Curtailment or
Settlement
• Amendments to MFRS 123, Borrowing Costs (Annual Improvements to MFRS Standards
2015-2017 Cycle)
• Amendments to MFRS 128, Investments in Associates and Joint Ventures – Long-term
Interests in Associates and Joint Ventures

MFRSs, Interpretations and amendments effective for annual periods beginning on or
after 1 January 2020
• Amendments to MFRS 3, Business Combinations – Definition of a Business
• Amendments to MFRS 101, Presentation of Financial Statements and MFRS 108,
Accounting Policies, Changes in Accounting Estimates and Errors – Definition of Material

MFRSs, Interpretations and amendments effective for annual periods beginning on or
after 1 January 2021
• MFRS 17, Insurance Contracts

120 | PART 5 »» STATEMENTS, STATiSTiCS ANd ACTiviTiES

NEW_90-222.indd 120 2/21/19 9:30 AM