As the Companies Commission of Malaysia (SSM) moves forward with Phase 3 of the Malaysian Business Reporting System (MBRS 2.0), it marks a major step toward the full digital submission of statutory documents under the Companies Act 2016. This transformative shift demands that Company Secretaries and compliance professionals adapt quickly to meet new digital reporting standards. 

To support this transition, IRIS, in collaboration with MAICSA (The Malaysian Institute of Chartered Secretaries and Administrators), hosted an insightful Knowledge Sharing Webinar on June 12, 2025, titled: “Using Artificial Intelligence (AI) for MBRS 2.0 Submission to SSM”. 

The session attracted a strong turnout of Company Secretaries, corporate compliance officers, and finance professionals keen on staying ahead of evolving digital compliance mandates. 

The webinar featured leading voices from the regulatory and technology spheres: 

• Mazlan Hj. Ahmad – Council Member, MAICSA 

• Padmanabhan Anand – CEO, IRIS Singapore & Board Member, XBRL International 

• Dr. Yee Hun Leek – SSM Certified Trainer 

• Shraddha Bagul – Director, IRIS RegTech Malaysia 

• KE Lim – Managing Director, KE Digital 

Together, they discussed how MBRS 2.0 introduces deeper automation, stricter validations, and more comprehensive taxonomy compliance- making advanced technology essential to keeping pace. 

The session broke down the MBRS 2.0 framework, highlighting its three major phases and explaining how Phase 3 requires full digital filing of annual returns, financial statements, and other statutory documents– eliminating manual and over-the-counter submissions. 

The webinar showcased how digitalization and AI is reshaping regulatory reporting– taking over tedious tasks like data extraction, XBRL tagging, and report validation, and ensuring every submission meets SSM’s strict MBRS 2.0 taxonomy standards. 

One of the most appreciated moments was the live walkthrough of IRIS Instant– IRIS’s AI-powered, cloud-based platform that transforms MBRS 2.0 submissions into a seamless experience. 

Here’s how IRIS Instant is revolutionizing MBRS 2.0 filing: 

• Secure Login from Anywhere 

With no installation required, users can log in securely to IRIS Instant from any device. The cloud-based access ensures flexibility and convenience. 

• Clean Dashboard, Smart Navigation 

The dashboard allows users to manage filings, view history, and collaborate with team members- thanks to multi-user access and role-based permissions. 

• Upload & AI-Powered Scanning 

Users can: 

• Upload PDFs of financial statements (stylised or simple format) 

• Select the reporting framework (MFRS/MPERS) 

• Let the AI engine auto-extract and tag data using the SSM MBRS taxonomy 

Accuracy Rate: 95%+ tagging precision across all taxonomy elements. 

• Review & Edit – Total Control 

• Use the web-based editing interface (replicates mTool but smarter) 

• Access AI-prepopulated forms and make edits easily 

• Automatically reflects taxonomy updates- no need for manual upgrades 

Green Eye Feature lets users trace data back to its exact location in the source PDF. 

• Add / Remove Data Points 

• Double-click to add or remove data tags 

• System auto-calculates totals as per taxonomy logic 

• Aggregates multiple concepts (like various depreciation categories) into a single compliant tag 

Built-in Validation Engine (same as MBRS portal) ensures accuracy and consistency. 

Auto Footnotes & Text Block Tagging 

• Automatically tags mandatory blocks like Director’s Report, Auditor’s Opinion, etc. 

• Users can manually add or edit notes for clarity 

• Transparent reporting for regulators 

Real-Time Validation – Section-wise 

• Detects missing or mismatched data instantly 

• Alerts users to fill in mandatory but non-extracted items (e.g., auditor’s details, director’s ID) 

• Error locations are marked—just click the red pin to fix them 

Final Output – Your XBRL, Ready to File 

Once the review is complete: 

• Generate the XBRL file instantly 

• Preview it just like in the mTool 

• Submit directly to the MBRS portal 

You can choose to retain or delete the file from the cloud workspace post-submission. 

“AI is not here to replace the Company Secretary, but to empower them to be faster, more accurate, and better prepared for MBRS 2.0.”
— Padmanabhan Anand, CEO- IRIS Singapore 

“Compliance is no longer a once-a-year exercise. With MBRS 2.0, it’s an ongoing responsibility. Technology helps us keep pace without losing sleep.”
— Shraddha Bagul, Director IRIS RegTech Malaysia 

With MBRS 2.0 Phase 3 in effect, compliance is digital-first by default. Traditional filing tools are no longer sufficient. As demonstrated in the webinar, IRIS Instant empowers Company Secretaries with speed, accuracy, and confidence—backed by AI and 20+ years of XBRL expertise. 

Whether you’re new to MBRS or a seasoned pro, IRIS Instant ensures: 

• Seamless MBRS compliance 

• No dependency on mTool 

• Cloud-based convenience 

• Always up-to-date taxonomy 

• Transparent pricing

IRIS will also be conducting more such focused webinars in the coming weeks- tailored for company secretaries, corporate service providers, and finance teams.