Open AccessConceptual Framework Related to the Impact of Coronavirus Disease 2019 (Covid-19) on Malaysian Private Entity Reporting Standard (MPERS) adoption by Small and Medium Enterprises (SMEs) in Malaysia
Author(s) -
Siti Nur Ayuni Rosli,
Nurul Nazlia Jamil
Publication year - 2021
Publication title -
ulum islamiyyah
Language(s) - English
Resource type - Journals
eISSN - 2289-4799
pISSN - 1675-5936
DOI - 10.33102/uij.vol33nos4.413
Subject(s) - business , covid-19 , accounting , quality (philosophy) , conceptual framework , private capital , small and medium sized enterprises , pandemic , finance , economics , production (economics) , infectious disease (medical specialty) , medicine , philosophy , disease , epistemology , pathology , macroeconomics
Malaysian Private Entity Reporting Standard (MPERS) serves as a new reporting framework to private entities and significant milestones to the capital market. This enables the entities to assert the financial statements with full compliance with the International Financial Reporting Standard (IFRS). Thus, the focus of this paper is to discuss the conceptual framework on the impact of external pressure and environmental uncertainty on the quality of financial reporting by Small and Medium Enterprises (SMEs) in Malaysia. The effect of the Covid-19 pandemic on environmental uncertainty has an impact on the quality of financial reporting. It is expected that the Malaysia’s authority and regulator will anticipate the impact of the Covid-19 pandemic, given the outbreak has created disruption in all business chains including the SMEs in Malaysia.