Abstract
The Companies Commission of Malaysia (SSM) has established the eXensible Business Reporting Language (XBRL) which is the Malaysian Business Reporting System (MBRS). This study examines the technological, organisational and environmental factors influencing the usage of MBRS among the practitioners. Using interview as the data collection among 12 respondents which are practitioners from selected Corporate Secretaries fom small medium practices (SMPs). Data from interview has analysed based on descriptive coding and pattern coding that developed by Technological, Organisational and Environmental (TOE) theory using the Atlas.ti. The findings of this study indicates seven (7) technological factors which are assurance for data quality, relative advantage and the availability of regulator’s platform and system, limited tools and software, compability of format, compatibility of content and how the mTool could provide ease of use to the corporate secretary. In related to organisational factors, There are seven (7) challenges that can be considered discovered from organisational which are challenge to face attitude of preparers, limited practitioners that have own sufficient skills and knowledge, limited capable resources and preparers to manage the MBRS. In addition, there are six (6) environmental factors which are the technical support from regulator, the provision of incentive that should be given to the practitioners or SMPs, the effective strategies for promotion and educate practitioners method of voluntary submission. However, the lack of readiness on the use MBRS among trading partners and other stakeholder involvement would also challenge the adoption of MBRS. Therefore, this TOE factors would be important to practitioners to be ready on the enforcement of MBRS.
Highlights
Suruhanjaya Syarikat Malaysia (SSM) has developed a system that integrated the XBRL for the purpose of business reporting that known as Malaysian Business Reporting System (MBRS)
Together with the implementation of MBRS, there is a need to develop the XBRL taxonomy which known as SSM XBRL Taxonomy (SSMxT) which is act as dictitionary that include elements of Financial Statements and Report (FS), Annual Return (AR) and Exemption Applications (EA) that has been embedded in mTool
There is a need to be aware of the relative advantage of the implementation of MBRS
Summary
SSM has developed a system that integrated the XBRL for the purpose of business reporting that known as Malaysian Business Reporting System (MBRS). Together with the implementation of MBRS, there is a need to develop the XBRL taxonomy which known as SSM XBRL Taxonomy (SSMxT) which is act as dictitionary that include elements of FS, AR and EA that has been embedded in mTool. SSM has developed ready template that based on Microsoft Excel which is as mTool With this ready template, companies are able to prepare the document that known as XBRL format whether online and offline. Based on the implementation of MBRS, the main role that important is Company Secretary that will act as lodger to submit the XBRL document. This study focus only the system developed by SSM which is known as MBRS This is because MBRS is the system that operated for submission business reporting for private and public entities that registered with SSM.
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