News - Archives

22 Dec 2014
The ASC invites comments on ED/2014/6 Disclosure Initiative (Proposed amendments to IAS 7) by 6 March 2015.
11 Dec 2014

The ASC has issued SFRS for Small Entities Q&A No. 5 Fallback to FRS 109 Financial Instruments. This Q&A provides non-mandatory guidance on the implementation of SFRS for Small Entities.

11 Dec 2014
The ASC has issued FRS 109 Financial Instruments, effective for annual periods on or after 1 January 2018. Please click here for the press release and click here for the standard.
27 Nov 2014
The ASC invites comments on ED/2014/5 Classification and Measurement of Share-based Payment Transactions (Proposed amendments to IFRS 2) by 6 Februay 2015.
19 Nov 2014
The ASC has issued Improvements to FRSs (November 2014). The effective date of each amendment is included in the issued document.
19 Nov 2014
The ASC has issued Amendments to FRS 110 and FRS 28: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture, effective for annual periods beginning on or after 1 January 2016.
19 Nov 2014
The ASC has issued FRS 115 Revenue from Contracts with Customers, effective for annual periods beginning on or after 1 January 2017.
23 Oct 2014
The ASC has issued Amendments to FRS 16 and FRS 38: Clarification of Acceptable Methods of Depreciation and Amortisation, effective for annual periods beginning on or after 1 January 2016.
23 Oct 2014
The ASC has issued Amendments to FRS 16 and FRS 41: Agriculture: Bearer Plants, effective for annual periods beginning on or after 1 January 2016.
23 Oct 2014
The ASC has issued Amendments to FRS 27: Equity Method in Separate Financial Statements, effective for annual periods beginning on or after 1 January 2016.
23 Oct 2014
The ASC has issued Amendments to FRS 111: Accounting for Acquisitions of Interests in Joint Operations, effective for annual periods beginning on or after 1 January 2016.
19 Sep 2014

The ASC invites comments on the Exposure Draft ED/2014/4 Measuring Quoted Investments in Subsidiaries, Joint Ventures and Associates at Fair Value (Proposed amendments to IFRS 10, IFRS 12, IAS 27, IAS 28 and IAS 36 and Illustrative Examples for IFRS 13) by 28 November 2014.

19 Sep 2014

The ASC invites comments on the Discussion Paper DP/2014/2 Reporting the Financial Effects of Rate Regulation by 28 November 2014.

03 Sep 2014

The ASC invites comments on the Exposure Draft ED/2014/3 Recognition of Deferred Tax Assets for Unrealised Losses (Proposed amendments to IAS 12) by 7 November 2014.

23 Jun 2014

The ASC has issued FRS 114: Regulatory Deferral Accounts, effective for annual periods beginning on or after 1 January 2016.

17 Jun 2014

The ASC invites comments on the Exposure Draft ED/2014/2 Investment Entities: Applying the Consolidation Exception (Proposed amendments to IFRS 10 and IAS 28) by 1 August 2014.

05 Jun 2014

Revenue recognition: At last, a common universal language for top line reporting
The staff of the ASC has written an article on IFRS 15 Revenue from Contracts with Customers to outline key areas that may have significant impact on entities in Singapore.

29 May 2014

The ASC announced today that Singapore-incorporated companies listed on Singapore Exchange will apply a new financial reporting framework identical to the International Financial Reporting Standards in 2018.

29 May 2014

Mr Michael Lim, Chairman of the ASC, delivered the keynote speech at the IFRS Foundation’s Asia-Oceania IFRS Conference in Singapore.

06 May 2014

Register now: IFRS Foundation Conference: Singapore - 29 and 30 May 2014
With less than a month to go, stakeholders in the financial reporting space are strongly encouraged not to miss this internationally renowned Conference. Please click on this link for further details on the conference and registration.

24 Apr 2014

The ASC invites comments on the Discussion Paper DP/2014/1 Accounting for Dynamic Risk Management: a Portfolio Revaluation Approach to Macro Hedging by 5 September 2014.

27 Mar 2014

The ASC invites comments on the Exposure Draft ED/2014/1 Disclosure Initiative (Proposed amendments to IAS 1) by 18 June 2014.

14 Mar 2014

IFRS Foundation Conference: Singapore - 29 and 30 May 2014
The ASC is pleased to be the strategic partner of the IFRS Foundation in the upcoming Asia-Oceania IFRS Conference in Singapore that will be held on 29 and 30 May 2014. Stakeholders in the financial reporting space are strongly encouraged to join this internationally renowned Conference. Please click on this link for further details on the conference and registration.

28 Feb 2014

2014 Volume
The collection of FRSs and INT FRSs that is required to be applied for annual periods beginning on 1 January 2014, is now available. This collection includes official pronouncements that have been issued by the ASC up to 31 December 2013, but does not include new/revised/amendments to FRSs and INT FRSs which are effective for annual periods beginning after 1 January 2014.

11 Feb 2014

The ASC has issued Improvements to FRSs (February 2014). The effective date of each amendment is included in the issued document.

29 Jan 2014

The ASC has issued Amendments to FRS 19: Defined Benefit Plans: Employee Contributions, effective for annual periods beginning on or after 1 July 2014.

29 Jan 2014

The ASC has issued Improvements to FRSs (January 2014). The effective date of each amendment is included in the issued document.