Statement Of Intent - Singapore Financial Reporting Standard For Small Entities

STATEMENT OF INTENT - SINGAPORE FINANCIAL REPORTING STANDARD FOR SMALL ENTITIES

The Statement of Intent sets out the reasons behind the intention of the Singapore Accounting Standards Council (ASC) to introduce the International Accounting Standards Board (IASB)’s final standard on International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) as the Singapore Financial Reporting Standard for Small Entities (SFRS for Small Entities). The SFRS for Small Entities would be a reporting option for entities in Singapore which have no public accountability and satisfy certain criteria.

Statement of Intent

  1. The Statement of Intent can be downloaded here ().
  2. Consultation Period

  3. The ASC would like to seek comments from the public, stakeholders and any interested parties on the Statement of Intent. The comment period will be from 18 June 2010 to 18 August 2010. Comments can be sent via email to MOF_Feedback_ASC@mof.gov.sg