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

Eight organisations that have early-adopted sustainability reporting share their experiences and insights. 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

The new approach to lease accounting provides more relevant financial information that faithfully represents leasing transactions. Read More

Sustainability reporting will be introduced on a “comply or explain” basis for SGX-listed companies in 2018; what are the implications, and the actions to be taken today? Read More