Chartered Accountants Lab - pertinent information for professionals and more. Check it out now!

ISCA Corporate Membership benefits all your staff at the price of $981 (w/GST) only (value worth over $3,500)! Find out more

Explore the 5 areas to advance digital transformation. Match your role from 12 possible digital superhero roles. Which one are you? Find out now!

2024 Membership Renewal, click here to renew your membership

My Profile

Singapore CA Qualification

Learn more

Foundation Programme

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

Learn More

Professional Programme

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

Learn More

Accredited Training Organisations

Find out how to become an Accredited Training Organisation under the SCAQ.

Learn More

Resource Library

Access our latest IS Chartered Accountant Journal and Business Insights

Learn more

Chartered Accountants Lab

Be in tune with timely updates and in-depth analysis of accounting and business issues.

Learn More

Guide to Digital Journal

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

Learn More

Standards & Guidance

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.

Learn more

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.

Learn More

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.

Learn More

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.

Learn More

IESBA Proposes Changes to the Code of Ethics for Professional Accountants to Address a Breach of a Requirement in the Code

Share the Page

Share the Page

The International Ethics Standards Board for Accountants (IESBA) today released for exposure Proposed Changes to the Code of Ethics for Professional Accountants Related to Provisions Addressing a Breach of a Requirement of the Code. The IESBA believes that any breach of a provision of the Code of Ethics for Professional Accountants (IESBA Code) should be treated as a matter of utmost importance. Therefore, the IESBA has proposed changes to the IESBA Code that will provide guidance to a professional accountant on the action to be taken in such situations. This includes a robust framework for addressing a breach of an independence requirement that will result in greater transparency. This Exposure Draft is the result of a project that commenced in 2010.