FinTags Empowers Malaysian Accounting Firms with XBRL Solutions for MBRS 2.0 Compliance

6 March 2025

KUALA LUMPUR: FinTags Sdn Bhd, Malaysia's leading provider of XBRL services, has launched specialised XBRL solutions designed to assist accounting firms in navigating the complexities of MBRS 2.0 compliance. These innovative solutions streamline compliance processes, enhance accuracy, and improve efficiency, enabling firms to manage multiple client filings with ease.

With the expansion of the Companies Commission of Malaysia's (SSM) mandatory XBRL reporting, accounting firms are facing an unprecedented surge in filings. FinTags’ platform allows these firms to expand their digital reporting services without sacrificing compliance or overburdening their staff.

"Accounting firms are at the forefront of MBRS 2.0, managing complex client submissions under strict deadlines," said Shobika, Senior Manager of Customer Success at FinTags. "Our solutions transform this challenge into an opportunity by significantly reducing preparation time and rejection rates."

FinTags' XBRL solutions feature a multi-client management platform that includes a secure online Client Portal, which offers centralised control, role-based access, automated deadline tracking, and client-specific taxonomy mapping. Additionally, the XBRL libraries comprise over 250 pre-validated, industry-specific templates compatible with MFRS and MPERS taxonomies, reducing tagging time by as much as 65%. The white-label Client Portal enables firms to provide branded XBRL services through customisable interfaces, thereby enhancing their digital reporting capabilities. Furthermore, a bulk discounting structure with volume-based pricing increases profitability as service demand grows.

"Before FinTags, each XBRL filing required 15 to 20 hours and multiple reviews," remarked Lee Wei Tan, Managing Partner of a Kuala Lumpur accounting firm. "Now, we complete filings in 4 to 6 hours with zero rejections, turning compliance into a high-margin service."

Firms that have adopted FinTags report remarkable improvements, including a 72% reduction in preparation time per filing, a 98.9% first-time acceptance rate for SSM submissions, and an expansion of services to newly regulated sectors under MBRS 2.0.

In addition to these solutions, FinTags offers a specialised onboarding programme that includes access to the secure online Client Portal, workflow integration with existing accounting systems, initial client portfolio setup and template creation, as well as dedicated account management and regulatory updates.

"Accounting firms shouldn't have to choose between scaling their XBRL practice and maintaining quality," stated Santhosh Wilson, Director of Service Delivery. "Our solutions ensure they can achieve both."

Founded in 2019, FinTags Sdn Bhd specialises in XBRL implementation, digital financial reporting, and regulatory compliance. Recognised by SSM BizTrust, FinTags collaborates with leading accounting firms across Malaysia and Singapore to drive digital transformation in financial reporting.