DataTracks Unveils AI-Powered XBRL Platform for MBRS Compliance

DataTracks, a worldwide leader in cloud-driven compliance reporting solutions, revealed the launch of DataTracks Aurora, an AI-enhanced XBRL platform designed to simplify and accelerate compliance with the Malaysian Business Reporting System (MBRS).

The MBRS is a digital submission system launched by the Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia or SSM) for submitting financial reports and annual returns in the XBRL format. Starting in December 2024, with the initiation of compulsory digital submissions, Aurora is designed to assist Malaysian enterprises in preparing ahead – effortlessly, precisely, and confidently.

Now that the MBRS mandate is in sync with MPERS and MFRS reporting standards, accounting professionals encounter several significant challenges, including complex data mappings to MBRS templates, detailed business validation rules, and repetitive manual tasks across various entities.

Aurora allows users to upload financial statements, automatically align them with MBRS templates, and reuse those alignments for similar entities – conserving time and ensuring consistency.

By utilizing AI-driven automation, preparers can leverage existing mappings to minimize manual effort, potentially decreasing preparation time by as much as 80%. An intuitive interface streamlines the mapping process requiring little manual input.

The intelligent review and validation function assists in tracking mapped values to financial statements, ensuring straightforward verification and flawless results.

Aurora features strong access controls, enabling companies to handle various entity profiles, allocate roles to internal teams or clients, and enhance preparation and review processes with integrated security.