Purpose This study aims to investigate the association between five firm-specific characteristics and the level of mandatory compliance with Financial Reporting Standards (FRS 101), which is equivalent to International Accounting Standards (IAS) 1 by Malaysian SMEs. Design/Methodology/Approach A disclosure index is used to measure the extent of compliance with FRS 101. Each of the 105 sampled firms' annual reports were examined against the index for the financial year ending December 31, 2013. Findings The results reveal an overall compliance of 96 per cent. Regression results report that only firm size and profitability have a positive and negative significant association, respectively, with FRS 101 disclosure requirements. Practical Implications This study should be particularly relevant to regulatory bodies in Malaysia for strategizing and encouraging compliance with FRS 101 by non-listed firms. Originality/Value Additionally, the study contributes to financial reporting literature relating to a developing country, Malaysia. Since SMEs in Malaysia contribute significantly to the economic development in the country, it is interesting to examine how they present their financial statements to interested parties and the degree of their compliance with Financial Reporting Standards as required by the relevant authorities

Purpose The purpose of this paper is to investigate Malaysian companies’ compliance with mandatory accounting standards. Specifically, this study examines the efficacy of agency-related mechanisms on the degree of compliance with Financial Reporting Standards (FRS) 101, Presentation of Financial Statements. It so proceeds by focussing on corporate governance parameters (board characteristics and ownership structure) and other firm characteristics. Design/methodology/approach Using data drawn from a sample of 105 Malaysian companies listed on the ACE market in 2009, the authors employ multiple regression analysis models to establish whether selected corporate governance and company-specific characteristics (proxying for agency-related mechanisms) are related to the degree of disclosure compliance. Findings The results indicate that the overall disclosure compliance is high (92.5 per cent). Furthermore, only firm size is positively associated with the degree of compliance. The other variables, those consisting of board independence, audit committee independence, CEO duality, the extent of outside blockholders’ ownership and leverage, do not show any significant relationship with the degree of compliance. Research limitations/implications This study focusses on only one accounting standard (FRS 101) that is mandatory in Malaysia. FRS 101 is both structured and rigid, leaving no room for companies to conceal any particular information. The sample of Malaysian companies selected is restricted to those listed only on the ACE market. As such, the results cannot be generalised to every company in Malaysia. Practical implications These results have important implications for policy makers because they suggest that whilst agency-related mechanisms may motivate compliance with mandatory standards, full compliance may be unattainable without regulations. Originality/value This is the only study in Malaysia to investigate the impact of regulatory requirements on corporate compliance level by companies listed on the new ACE market, which was introduced by the Bursa Malaysia in August 2009. This study contributes to the literature by examining the effects of both company-specific characteristics (such as company size, company age, liquidity, etc.) and corporate governance parameters on the degree of corporate compliance with mandatory disclosure, simultaneously, in contrast with prior studies which have examined them in isolation.

The purpose of this paper is to examine the nature and extent of voluntary disclosure of graphical information in the annual reports of 54 non-financial public listed companies in Malaysia using a longitudinal approach. The results show that the disclosure of graphical information in Malaysian companies' annual reports has increased at an 'average level' over the thirtyyear period. The majority of Malaysian companies prefer to use the bar graphs and the most frequently graphed variables are profit, turnover, earnings per share, and shareholders' fund. The implications of this study are that: a) companies should be aware of the usefulness and advantages of providing graphical information for the benefit of various user groups; b) it may timely for the accounting regulatory bodies to propose a minimum/adequate level of graphical information using selected items of high importance to users of annual reports; and to formulate suitable guidelines in order to standardise the presentation of graphical information in annual reports of companies.

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