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Singapore CA Qualification

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Foundation Programme

Find out more about the SCAQ Foundation Programme requirements, eligibility, modules, fees and more.

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Find out more about the SCAQ Professional Programme requirements, eligibility, modules, fees and more.

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Access and navigate the ISCA digital journal through an illustrative a step-by-step guide.

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Welcome to ISCA’s centralised Knowledge Centre! Here you will find the latest news on developments in the technical front. You will also discover relevant and useful resources aimed at empowering our members with knowledge in core and other disciplines.

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Ethics Pronouncements

ISCA issued EP 200 (Revised on 1 June 2023) Anti-Money Laundering and Countering the Financing of Terrorism – Requirements and Guidelines for Professional Accountants in Singapore to adopt the anti-money laundering and countering the financing of terrorism (AML/CFT) requirements which are included in the Accountants (Prevention of Money Laundering and Financing of Terrorism) Rules 2023. These requirements are applicable to professional accountants in public practice and professional firms preparing for or carrying out transactions which are considered high risk.

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Financial Reporting Bulletins

ISCA Issues FRB 3 (Revised April 2024) Classification of Liabilities as Current or Non-current (Amendments to SFRS(I) 1-1). FRB 3 (Revised), published on 30 October 2020, guides readers in understanding and applying the amendments to SFRS(I) 1-1 Presentation of Financial Statements issued in 2020 (“2020 amendments”) to certain common scenarios in Singapore such as long-term loans with callable clauses and term loans with rollover facilities. FRB 3 (Revised April 2024) has been issued to incorporate the clarifications (“2022 amendments”) to the 2020 amendments for SFRS(I) 1-1, which together with the 2020 amendments, would be effective for annual reporting periods beginning on or after 1 January 2024 retrospectively. One salient clarification is on the classification of liabilities with the right to defer settlement which are conditional on the compliance with specified conditions (commonly known as covenants). Only covenants which an entity must comply with on or before the end of the reporting period will affect a liability’s classification as current or non-current.

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Audit Bulletins

ISCA Issues Audit Bulletin 4 Non-Consolidation Of Subsidiaries - Considerations For The Auditor’s Report. In ACRA’s Audit Regulatory Report 2023 one area of concern highlighted is where an audited parent entity does not present consolidated financial statements as required by FRS 110 Consolidated Financial Statements. In such situations, the auditor needs to assess if this calls for a modification to the audit opinion. This audit bulletin highlights key considerations for the auditor when assessing the effects of non-consolidation of subsidiaries on the auditor’s report, including illustrative examples on the types of audit opinions that may be issued.

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In this episode of our monthly IASB podcast, Andreas Barckow and Sue Lloyd, Chair and Vice-Chair of the International Accounting Standards Board (Board) respectively, talk about the Board’s discussions at the meeting that was held from 21 to 24 September 2021, as well as some other highlights from the previous month.

Topics discussed include:

decisions taken regarding the Board’s project on Extractive Activities;

updates on the Financial Instruments with Characteristics of Equity and Dynamic Risk Management projects;

ongoing redeliberations in the Goodwill and Impairment project;

an update on developments in the Primary Financial Statements project;

Andreas’ keynote speech at the recent World Standard-setters conference; and

thoughts from Sue on the Board’s work as part of the Technical Readiness Working Group, which was created by the IFRS Foundation Trustees as part of their work on a proposed International Sustainability Standards Board.