Integrated reporting to ‘play key role in Malaysia’s economic development’

11 Oct 16

Integrated reporting has a key role to play in Malaysia’s economic transformation, the country’s deputy trade minister has said.


Malaysia is striving to reach high-income status by 2020, and Datuk Chua Tee Yong stressed the method will “drive forward transparency and accountability, together with good governance” and ensure organisations thrive, generating sustained economic growth.

“<IR> could also act as a catalyst to spur economic development by strengthening confidence in the Malaysian economy,” he continued, especially given that Malaysia is a very open economy that is deeply intertwined with that of the rest of the world.

The minister was speaking at an <IR> conference organised by the Malaysian Institute of Accountants. While the event was aimed at promoting <IR> in the private sector, which contributes more than half of the nation’s GDP, CIPFA has highlighted the benefits the method can have for public sector organisations too.

<IR> promotes a more holistic and long-term mindset that is able to understand and coherently communicate the interaction between different organisational silos. It also recognises the value of other forms of capital, beyond the financial – including manufactured, intellectual, human, social, relationship, and natural.

Dato’ Mohammad Faiz Azmi, president of the MIA, noted that other countries, including Japan and Sri Lanka, have promoted <IR> in order to make their nations more attractive to both foreign and local investment.

The MIA is encouraging businesses to adopt <IR> and collaborate with relevant agencies and accountancy bodies to promote the practice. It is also recognising early adopters by giving them awards. 

Did you enjoy this article?

Related articles

Have your say

CIPFA latest