RAP 7 sets out recommendations on the way in which the managers of a unit trust should prepare the unit trust financial statements for unitholders. RAP 7 is intended to be applicable to all authorised unit trusts in the Republic of Singapore, regardless of their constitution, size or complexity. Managers and trustees are encouraged to comply with the recommendations set out in RAP 7.
RAP 7 (Revised March 2017) has been updated from RAP 7 (Revised June 2016) for the following:
1) Amendments to the "Statement by the Manager" to be consistent with the Illustrative Auditor's Report; and
2) Inclusion of the Illustrative Auditor's Report, which is applicable to unit trusts with financial periods ending on or after 15 December 2016.
RAP 7 (Revised March 2017) is effective for unit trusts with financial periods beginning on or after 1 July 2016.
Please click here for the RAP 7 (Revised March 2017) “Reporting Framework for Unit Trusts”.