• February 26, 2025
• MBRS 2.0
• By FinTags

FinTags Empowers Malaysian Accounting Firms with Specialized XBRL Solutions for MBRS 2.0 Reporting with SSM

KUALA LUMPUR, MALAYSIA – March 06, 2025 – FinTags Sdn Bhd, Malaysia's leading XBRL services provider, today announced tailored XBRL solutions designed for accounting firms navigating the complexities of MBRS 2.0 implementation. The unique ability to switch between services and AI powered XBRL product empowers accounting professionals to efficiently manage multiple client filings while maintaining the highest standards of accuracy and compliance.

With Malaysian accounting firms now managing an unprecedented volume of XBRL filings due to SSM's mandatory reporting requirements, FinTags’ specialized offerings supports accounting practices to confidently engage their clientele for digital reporting services while ensuring zero errors and 100% successful filing each time.

"Accounting firms are at the frontline of MBRS 2.0 implementation, often managing hundreds of client submissions with varying complexities and deadlines," said Shobika, Senior Manager of Customer Success at FinTags. "Our accounting firm specific XBRL solutions transform this regulatory challenge into a strategic service opportunity by dramatically reducing preparation time while virtually eliminating rejection rates, allowing firms to fulfil XBRL services without proportionally increasing staff hours."

How FinTags Empowers XBRL Filing for Accounting Practices

FinTags’ accounting firm focused XBRL solutions deliver measurable advantages through:

• 1. Seamless Switch between XBRL Product and Service: FinTags offers accounting professionals the freedom to start with our managed XBRL services for the first year and transition to an AI-powered XBRL tool for the second year or let our team of experts continue handling it for them. This makes it easy to manage multiple clients while ensuring accuracy and compliance.
• 2. Multi-Client Management Platform: Our secure online Client Portal allows firms to manage unlimited client XBRL projects through a single interface, with role-based access controls, automated deadline tracking, and client-specific taxonomy mapping.
• 3. XBRL Libraries: We have diligently over the years built over 250 pre-validated industry-specific templates compatible with both MFRS and MPERS taxonomies, reducing initial tagging time by up to 65% compared to manual tagging.
• 4. Practice-Wide Knowledge Repository: Centralized storage of taxonomy decisions and tagging protocols ensures consistency across different XBRL team members and client engagements.
• 5. White-Label Client Portal: Accounting firms can offer branded XBRL services to clients through customizable interfaces, positioning the firm as a one stop service provider for XBRL digital reporting.
• 6. Bulk Discounting Structure: Volume-based pricing accommodates firms of all sizes, with sliding-scale fees that increase profitability as XBRL service volume grows.

Real Results for Accounting Partners

"Before implementing FinTags' XBRL solutions, each XBRL filing required approximately 15-20 hours of staff time and multiple review cycles," said Lee Wei Tan, Managing Partner at a leading Kuala Lumpur accounting firm. "We've reduced that to 4-6 hours per filing while eliminating submission rejections entirely. This efficiency has transformed our XBRL services from a compliance burden into one of our highest-margin offerings."

Analysis of FinTags’ Accounting Firm Partnerships

• 70% reduction in preparation time per filing
• 98% first-time acceptance rate with SSM submissions
• Ability to handle 3x more XBRL filings without adding staff
• 40% average increase in revenue from XBRL services
• Expanded service capabilities to newly regulated sectors under MBRS 2.0

Accounting Firm XBRL Implementation Program

FinTags offers a specialized onboarding program for accounting practices that includes:

• Exclusive access to secure online Client Portal for managing multiple clients
• Customized workflow integration with existing accounting systems
• Initial client portfolio setup and template creation
• Dedicated account manager for priority support
• Quarterly updates on regulatory changes and taxonomy modifications

"Accounting firms shouldn't have to choose between scaling their XBRL practice and maintaining quality," noted Santhosh Wilson, FinTags’ Global XBRL Delivery Officer. "Our accounting-specific XBRL solutions deliver both, allowing firms to confidently expand their MBRS digital reporting services while maintaining the highest compliance standards."

About FinTags

FinTags Sdn Bhd has been at the forefront of financial reporting technology solutions in Malaysia since 2019. Specializing in XBRL implementation, digital financial reporting, and regulatory compliance, the company serves organizations ranging from SMEs to Malaysia's largest public-listed entities. FinTags is an SSM BizTrust recognized company and maintains strategic partnerships with leading accounting firms throughout Singapore and Malaysia.

Globally FinTags’ XBRL services covers UK (HMRC, Companies House), Ireland (Revenue), South Africa (CIPC), Singapore (ACRA) and Malaysia (SSM). FinTags is ISO certified for Information Security and Quality. FinTags is also recognised XBRL services provider officially by HMRC (UK) and CIPC (South Africa).