The corporate reporting has, at its foundation, the need to keep stakeholders well informed about the company, and about the actions of those to whom they have entrusted the responsibility of managing it, said Bursa Malaysia chairman Tan Sri Abdul Wahid Omar .
“So, what should be reported and how it is presented must evolve with the changing landscape. Information that companies should provide must be relevant to what stakeholders need and want,“ he said. On another development, Abdul Wahid said focus on sustainability in the new normal will be accelerated as the pandemic has proven the viability of the environmental, social, and governance agenda for both stakeholders and investors.
Meanwhile, Malaysian Institute of Accountants and Malaysian Institute of Certified Public Accountants president Dr Veerinderjeet Singh said enhancing corporate disclosure and reinforcing its use as a tool for communications, stakeholder engagement and comparison will ensure that corporate and financial reporting remained relevant, despite changes in the business and economic landscape.