IFAC has formally responded to the Malaysian Committee to Strengthen the Accountancy Profession (CSAP)’s Report on the Strengthening of the Accountancy Profession in Malaysia addressing regulation, meeting the demand for professional accountants, accountancy education, and making public accountancy practices more competitive.

IPSAS 38 brings together the disclosures previously included in IPSASs 6–8. It also introduces new disclosure requirements, including those related to structured entities that are not consolidated and controlling interests acquired with the intention of disposal. 

IPSAS 37 establishes requirements for classifying joint arrangements and accounting for those different types of joint arrangements. Joint arrangements are classified as either joint operations or joint ventures. In a joint operation, the parties to the arrangement have rights to the assets and obligations for the liabilities relating to the arrangement. In a joint venture, the parties to the arrangement have rights to the net assets of the arrangement.