2018 will be a watershed year for the Singapore accountancy profession as IFRS and two new accounting standards, FRS 115 and FRS 109, become effective. Read More
Although it has come to the fore in the past few years, sustainability reporting has been around for decades. Initially, most non-financial reporting was incorporated into financial statements and was largely about employee well-being.
Corporate scandals played a pivotal role in spurring the... Read More
Given that most construction contracts are long term, it is critical to start the transition process now, before FRS 115 becomes effective in January 2018. Read More
FRS 116 takes effect on 1 January 2019 for companies with a December 31 year-end. What should companies do today to prepare themselves for the changes? Read More
Adopting and implementing FRS 116 would not be a bed of roses for businesses with significant number of lease contracts. Some of the challenges that these businesses may encounter include creating a centralized database of all the lease contracts and transactions they... Read More