| XBRL stands for eXtensible Business Reporting | | | | correctness and accuracy of the financial statement in |
| Language. It is an electronic communication of business | | | | XBRL format. |
| and financial data language developed to present | | | | Although Malaysia has not implemented XBRL at this |
| financial statement on the Internet. The key advantage | | | | moment, there is a reasonable expectation that |
| of this new "language" is that an identifying tag is | | | | Suruhanjaya Syarikat Malaysia (SSM) will implement |
| applied for each individual item of data instead of | | | | this in the near future. This expectation can be seen |
| treating them as a block of text. | | | | from the growing use of XBRL in the global |
| Since the financial data is now tagged, it thus can be | | | | environment, including our neighbouring country, |
| recognized by the recipient party's computer. | | | | Singapore, who has been using XBRL for a number of |
| Accountants, auditors, regulators and financial analysts | | | | years already. Other countries in Asia Pacific that are |
| are used for other purposes; and also presents variety | | | | adopting XBRL formats are Japan, Korea, Australia |
| of ways in a fraction of a second and eliminate the | | | | and the Stock Exchanges of Thailand and China. |
| possibilities of human error during the re-keying of | | | | Singapore's Accounting & Corporate Regulatory |
| financial data. This will allow flexibility while enhancing | | | | Authority (ACRA), which is the equivalent of Malaysia's |
| transparency and timely dissemination of relevant | | | | SSM, has already implemented XBRL formatting for |
| financial information. | | | | Singapore companies incorporated on or after 1 |
| With the financial data tagged before publishing onto | | | | November 2007. |
| the Internet, it is the Directors' responsibility to ensure | | | | |