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Policy Statements and Speeches

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26 August 2010	The ASC has issued INT FRS 115 Agreements for the Construction of Real Estate, with an Accompanying Note to be read together with INT FRS 115. An entity shall apply the Interpretation for annual periods beginning on or after 1 January 2011. Click here to read more.

26 August 2010	The IASB has issued the Exposure Draft ED/2010/09 Leases. Comments should be submitted to the ASC no later than 22 October 2010.

12 August 2010	The IASB has issued the Exposure Draft ED/2010/08 Insurance Contracts. Comments should be submitted to the ASC no later than 29 October 2010.

1 July 2010	The IASB has issued the Exposure Draft ED/2010/07 Measurement Uncertainty Analysis Disclosure for Fair Value Measurements (Limited re-exposure of proposed disclosure). Comments should be submitted to the ASC no later than 1 August 2010.

1 July 2010	The IASB has issued the Exposure Draft ED/2010/06 Revenue from Contracts with Customers. Comments should be submitted to the ASC no later than 10 September 2010.

18 June 2010	The ASC has issued a Statement of Intent on the likely issuance of the FRS for Small Entities in Singapore. Comments on the statement should be submitted to the ASC no later than 18 August 2010.

4 June 2010	The IASB has issued the Exposure Draft ED/2010/5 Presentation of Items of Other Comprehensive Income (Proposed amendments to IAS 1). Comments should be submitted to the ASC no later than 30 July 2010.

18 May 2010	Singapore has successfully hosted the 2010 International Financial Reporting Standards Regional Policy Forum on 13 May 2010. A Communiqué outlining the outcomes achieved has been issued. Please click here to read more.

18 May 2010	The IASB has issued the Exposure Draft ED/2010/4 Fair Value Option for Financial Liabilities. Comments should be submitted to the ASC no later than 17 June 2010.

11 May 2010	Singapore hosts the 2010 International Financial Reporting Standards Regional Policy Forum on 13 May 2010. Click here to read more.

7 May 2010	The IASB has issued the Exposure Draft ED/2010/3 Defined Benefits Plan – Proposed amendments to IAS 19. Comments should be submitted to the ASC no later than 23 July 2010.

8 April 2010	The ASC has issued Limited Exemption from Comparative FRS 107 Disclosures for First-time Adopters (Amendment to FRS 101). An entity shall apply that amendment for annual periods beginning on or after 1 July 2010.

8 April 2010	The IASB has issued the Discussion Paper DP/2010/1 Extractive Activities. Comments should be submitted to the ASC no later than 7 May 2010.

15 March 2010	Thank you for your valuable feedback during the Public Consultation on the Exposure Draft of the Charities Accounting Standard. The ASC Committee for Charities will consider the feedback when finalising the standard.

15 March 2010	ED Conceptual Framework for Financial Reporting – The Reporting Entity is available for comments. Comments should be submitted to the ASC no later than 1 May 2010.

25 January 2010	The ASC has deliberated the adoption of IFRS 9 and decided to defer its adoption in Singapore. Click here to read more.

22 January 2010	The ASC has issued the revised FRS 24 Related Party Disclosures. An entity shall apply the amendments retrospectively for annual periods beginning on or after 1 Jan 2011.

22 January 2010	The ASC has issued the Amendments to INT FRS 114. An entity shall apply the amendments for annual periods beginning on or after 1 Jan 2011.

22 January 2010	The ASC has issued INT FRS 119 Extinguishing Financial Liabilities with Equity Instruments. An entity shall apply the Interpretation for annual periods beginning on or after 1 Jul 2010.

7 January 2010	The IASB has issued the Exposure Draft ED/2010/1 Measurement of Liabilities in IAS 37 (Proposed amendments to IAS 37). Comments should be submitted to the ASC no later than 15 March 2010.

23 December 2009	ACCOUNTING STANDARDS COUNCIL AND COMMISSIONER OF CHARITIES SEEK PUBLIC VIEWS ON THE EXPOSURE DRAFT OF CHARITIES ACCOUNTING STANDARD The Accounting Standards Council and the office of the Commissioner of Charities will be seeking views from the charity sector, accounting professionals and the public on the Exposure Draft of Charities Accounting Standard (CAS) and its application. The public consultation on the Exposure Draft of the CAS will be from 23 December 2009 to 3 March 2010.

18 November 2009	The International Accounting Standards Board (IASB) has issued the IFRS 9 Financial Instruments on 12 November 2009. The ASC is presently deliberating on the adoption of the standard in Singapore. An announcement will be made when the ASC reaches a decision. IFRS 9 Financial Instruments IFRS 9 – Appendix C and Guidance

11 November 2009	The IASB has issued the Exposure Draft ED/2009/12 Financial Instruments: Amortised Cost and Impairment. Comments should be submitted to the ASC no later than 30 April 2010.

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Last reviewed on 26 August 2010
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