After initial MPSAS adoption
WAN NADZIR & CO.CHARTERED ACCOUNTANTS · AF1234Reporting Automation
Making Annual Financial Reporting More Manageable
A structured reporting process developed during MPSAS transition can continue to support the preparation, consolidation and review of financial statements in subsequent years.
Assignment snapshot
Single entities and groups with subsidiaries
MPSAS parent with MFRS or MPERS subsidiaries
The assignment
From transition exercise to recurring reporting process.
Following their transition to MPSAS, several organisations continued to use the reporting processes developed during the initial implementation for their annual financial reporting.
The organisations included statutory bodies, development agencies, a local authority and public universities. Their structures ranged from a single reporting entity to groups in which subsidiaries continued to prepare their accounts under MFRS or MPERS.
The challenge
Recurring work should not mean rebuilding the process each year.
- 01
Collect financial information from different entities through a consistent process.
- 02
Map information prepared under MFRS or MPERS into the group reporting structure where required.
- 03
Maintain consistency between the financial statements, notes and supporting schedules.
- 04
Prepare consolidation workings for groups with subsidiaries using a different reporting framework.
- 05
Update the annual financial statements within the required reporting timeline.
Our approach
A connected process that can be updated from year to year.
We configured each reporting process around the organisation's structure, source information and reporting requirements.
The workings connect data collection, mapping, validation, conversion where required, consolidation where applicable, and the preparation of financial statements and disclosures. Built-in checks help identify inconsistencies before the reporting process reaches its final stages.
Source data
Trial balances and supporting information from the reporting entity and its components.
→Mapping and validation
Structured inputs, reporting mappings and checks for incomplete or inconsistent information.
→Conversion and consolidation
Framework adjustments, consolidation workings and eliminations where applicable.
→MPSAS reporting
Linked financial statements, supporting notes and related disclosures.
What the process supports
Reporting components designed to remain connected.
- Structured data-input workings
- Reporting mappings
- Conversion workings where required
- Consolidation and elimination schedules
- Linked financial statements and notes
- Automated cash-flow preparation
- Built-in validation checks
- Annual roll-forward process
The outcome
A more manageable annual reporting cycle.
What began as part of the MPSAS transition became a recurring reporting process that could be rolled forward and updated in subsequent years.
The structured workings reduce repetitive preparation, support consistency across the financial statements and related schedules, and make the reporting process easier to review and maintain.
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