Financial Reporting Foundation Tenure

Summary

In Malaysia, members of the Financial Reporting Foundation (FRF) and the Malaysian Accounting Standards Board (MASB) typically serve a term of up to three years, with eligibility for reappointment for one additional term. Ex-officio members serve as long as they hold their qualifying position. The Financial Reporting Act 1997 and MASB’s Terms of Reference are the primary statutes governing these bodies. The Companies Act 2016, Securities Commission Malaysia Act 1993, and Capital Markets and Services Act 2007 do not directly regulate these entities. Subsidiary legislation under the Financial Reporting Act 1997 may provide further details on terms of office. A third term is generally not permitted beyond the two successive terms. For more specific guidance, refer to the official documents or consult legal resources.

Full Conversation

which source said that
The maximum tenure information for members of the Financial Reporting Foundation (FRF) and the Malaysian Accounting Standards Board (MASB) can typically be found in the relevant regulatory frameworks or official guidelines provided by these organizations. For the most accurate and specific information, refer to their official websites or contact them directly.
Is there anything else you need help with?
name the relevant regulatory frameworks or official guidelines
The relevant regulatory frameworks or official guidelines for the tenure of members in the Financial Reporting Foundation (FRF) and the Malaysian Accounting Standards Board (MASB) are:
- Financial Reporting Act *
- MASB’s Terms of Reference
Would you like information on how to access these documents?
are there any other statutes that provide for this info
The primary statutes providing information on the tenure of members in the Financial Reporting Foundation (FRF) and the Malaysian Accounting Standards Board (MASB) are the Financial Reporting Act * and MASB’s Terms of Reference. Other potential sources could include amendments to these statutes or related financial regulations.
Would you like assistance in finding specific amendments or related regulations?
give me the MASB terms of reference
The MASB Terms of Reference can typically be accessed through the official website of the Malaysian Accounting Standards Board. Here are key highlights:
- Roles and Responsibilities: Outlines the duties and functions of the MASB.
- Membership: Details on the composition, appointment, and tenure of members.
- Meetings: Guidelines on the frequency and conduct of meetings.
- Reporting: Requirements for reporting to stakeholders.
Would you like more detailed guidance on how to access the full document?
gimme the link to the full doc
You can access the full MASB Terms of Reference document on the Malaysian Accounting Standards Board's official website.
Would you like more detailed guidance on how to navigate their website?
r u sure its only 3 years
Yes, the standard term for a member of the Financial Reporting Foundation (FRF) and the Malaysian Accounting Standards Board (MASB) is typically three years, with a possible reappointment for an additional term.
Would you like detailed steps on how to navigate the MASB website to find this information?
*. Term of office Subject to sections10, * and *, a member of the Foundation or the Board other than an ex-officio member shall hold office for a term not exceeding three years and shall be eligible for re-appointment for one successive term only. how long can an ex officio member hold office for?
An ex-officio member’s term of office is not specifically limited by the same three-year term mentioned for other members. Their term typically lasts as long as they hold the position that qualifies them for ex-officio membership.
Would you like more information on the roles and responsibilities of ex-officio members?
what if the first term was 2Years, Term * was 1Year n now we want tp renew for *.5Years?
It seems you're asking about the possibility of renewing a member's term for half a year after serving two previous terms. According to the Financial Reporting Act * and MASB's Terms of Reference:
- A member can serve a term not exceeding three years.
- They are eligible for reappointment for one successive term only.
Would you like more detailed information on any exceptions or special conditions for renewals?
i cant find the masb terms of reference
You can find the MASB Terms of Reference on the official website of the Malaysian Accounting Standards Board. Here's the link for your convenience: [MASB Official Website](https://www.masb.org.my/).
Would you like more detailed steps on how to navigate their website to locate the document?
whqts a working group meaning in finance/accounting stuff
A working group in finance/accounting refers to:
- A team of experts or stakeholders
- Formed to address specific issues or projects
- Focuses on tasks like developing policies, standards, or solutions
- Generally temporary, existing until objectives are met
Would you like more details on any specific type of working group?
so theres no other law regulating those bodies?
Since the primary statutes regulating the Financial Reporting Foundation (FRF) and the Malaysian Accounting Standards Board (MASB) are the Financial Reporting Act * and MASB’s Terms of Reference, there may not be other specific laws directly regulating these bodies.
Would you like to know more about related financial regulations or amendments that might affect these organizations?
what statutes govern bodies relating to finance and accounting stuff in msia
In Malaysia, the main statutes governing bodies related to finance and accounting include:
- Financial Reporting Act *: Governs the Financial Reporting Foundation and the Malaysian Accounting Standards Board.
- Companies Act *: Regulates company law including accounting and financial reporting requirements.
- Securities Commission Malaysia Act *: Governs the regulation of securities and futures markets.
- Capital Markets and Services Act *: Regulates activities in capital markets and services.
Would you like more detailed information on any of these statutes?
i am only concrtned with the Financial Reporting Foundation and the Malaysian Accounting Standards Board.
The main statutes governing the Financial Reporting Foundation (FRF) and the Malaysian Accounting Standards Board (MASB) are:
- Financial Reporting Act *
- MASB’s Terms of Reference
Would you like detailed information on specific sections of these statutes?
so ntg to do with Companies Act *, Securities Commission Malaysia Act * n Capital Markets and Services Act *?
The primary statutes that govern the Financial Reporting Foundation (FRF) and the Malaysian Accounting Standards Board (MASB) are indeed the Financial Reporting Act * and MASB’s Terms of Reference.
The Companies Act *, Securities Commission Malaysia Act *, and Capital Markets and Services Act * generally do not directly regulate these bodies.
Would you like more detailed information on any specific provisions of the Financial Reporting Act * or MASB’s Terms of Reference?
whats capital market
A capital market is a financial market where individuals and institutions trade financial securities, such as stocks and bonds. It is divided into two segments:
- Primary Market: Where new securities are issued and sold for the first time.
- Secondary Market: Where existing securities are traded among investors.
Do you need information on how capital markets are regulated in Malaysia?
whats the financial reporting act for
The Financial Reporting Act * in Malaysia primarily aims to:
- Establish the Financial Reporting Foundation (FRF) and the Malaysian Accounting Standards Board (MASB).
- Outline the roles and responsibilities of these bodies.
- Set standards for financial reporting and ensure compliance.
Would you like detailed information on specific sections of the Financial Reporting Act *?
does it hv any subsidiary legislation
Yes, the Financial Reporting Act * does have subsidiary legislation. These could include specific regulations, guidelines, and amendments that provide further details and instructions on implementing the Act.
Would you like information on any specific subsidiary legislation?
yes regardign term of office
To address your query about the term of office under the Financial Reporting Act * and its subsidiary legislation:
- Members (excluding ex-officio) typically serve a term not exceeding three years and are eligible for reappointment for one successive term.
- Subsidiary legislation can provide further details on these terms.
Would you like information on how to access specific subsidiary legislation related to the term of office?
so lets say for one term it was 3 years, second term 2 years, can there be a third term of *.5 years?
No, according to the Financial Reporting Act * and MASB’s Terms of Reference, a member's term typically cannot be extended beyond the two successive terms already served, regardless of the length of the third term. Would you like more information on any specific exceptions or special conditions?
thansk dude
You're welcome! If you have any more questions or need further assistance, feel free to ask.
if the member is ex officio, how is the tenure like
An ex-officio member's term typically lasts as long as they hold the position that qualifies them for ex-officio membership.
Would you like more information on the roles and responsibilities of ex-officio members?
if non ex officio?
For non-ex-officio members:
- The term of office is typically up to 3 years.
- They may be reappointed for one additional term.
Would you like more details on the reappointment process or any specific conditions?