The Malaysian Accounting Standards Board (MASB) has announced that the effective date of MFRS 15 ‘Revenue from Contracts with Customers’ will be deferred to annual periods beginning on or after 1 January 2018. MFRS 15 is word-for-word identical with IFRS 15. As a result, the effective date for Transitioning Entities (TEs) to apply the Malaysian Financial Reporting Standards (MFRSs) will also be deferred to annual periods beginning on or after 1 January 2018.