News - Archives

23 Dec 2015

The ASC has issued Amendments to Effective Date of Amendments to FRS 110 and FRS 28 to defer the effective date of Amendments to FRS 110 and FRS 28: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture.

23 Dec 2015

The ASC has submitted its comment letter to the IASB on Request for Views:  2015 Agenda Consultation.

14 Dec 2015

The ASC invites comments on ED/2015/11 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts (Proposed amendments to IFRS 4) by 4 January 2016.

24 Nov 2015

The ASC invites comments on ED/2015/9 Transfers of Investment Property (Proposed amendment to IAS 40) by 15 January 2016.

24 Nov 2015

The ASC invites comments on ED/2015/10 Annual Improvements to IFRSs (2014-2016 Cycle) by 11 January 2016.

20 Nov 2015
The Minister for Finance has appointed Mr Kevin Kwok as Chairman of the ASC and re-appointed Mr Nagaraj Sivaram as Deputy Chairman. The composition of the newly appointed Council can be found here. The appointments are effective for a two-year term from 1 November 2015 to 31 October 2017. Click here for the press release issued by the Ministry of Finance.
19 Nov 2015

The ASC has issued Amendments to Amendments to ASC Statement on Applicability, effective for annual periods beginning on or after 1 January 2017.

11 Nov 2015

The ASC has issued Amendments to FRS 115: Effective Date of FRS 115, effective for annual periods beginning on or after 1 January 2018. 

6 Nov 2015
The ASC invites comments on ED/2015/8 IFRS Practice Statement: Application of Materiality to Financial Statements by 31 December 2015.
3 Nov 2015

The ASC has submitted its comment letter to the Trustees of the IFRS Foundation on  Request for Views: Trustees' Review of Structure and Effectiveness.

3 Nov 2015

The ASC has submitted its comment letter to the IASB on ED/2015/3 Conceptual Framework for Financial Reporting & ED/2015/4 Updating References to the Conceptual Framework.

2 Nov 2015

The ASC has submitted its comment letter  to the IASB on ED/2015/6 Clarifications to IFRS 15.

22 Oct 2015

The ASC invites comments on Draft IFRIC Interpretation DI/2015/1: Uncertainty over Income Tax Treatments by 20 November 2015.

22 Oct 2015

The ASC invites comments on Draft IFRIC Interpretation DI/2015/2: Foreign Currency Transactions and Advance Consideration by 20 November 2015.

20 Oct 2015

The ASC has submitted its comment letter  to the IASB on ED/2015/7 Effective Date of Amendments to IFRS 10 and IAS 28.

14 Aug 2015
The ASC invites comments on Request for Views: 2015 Agenda Consultation by 30 October 2015.
14 Aug 2015
The ASC invites comments on ED/2015/7 Effective Date of Amendments to IFRS 10 and IAS 28 by 15 September 2015.
31 Jul 2015
The ASC invites comments on ED/2015/6 Clarifications to IFRS 15 by 11 September 2015. 
10 Jul 2015
The ASC invites comments on Request for Views: Trustees' Review of Structure and Effectiveness by 31 August 2015.
3 Jul 2015
The ASC has issued editorial corrections to the ASC Statement on Applicability of the Singapore Financial Reporting Standard for Small Entities by deleting ‘gross’ from the term ‘total gross assets’ for clarity.
1 Jul 2015
The ASC has submitted its comment letter to the IASB on ED/2015/2 Effective Date of IFRS 15 (Proposed Amendments to IFRS 15).
25 Jun 2015
The ASC invites comments on  ED/2015/5 Remeasurement on a Plan Amendment, Curtailment or Settlement/Availability of a Refund from a Defined Benefit Plan by 14 August 2015.
10 Jun 2015
The ASC has submitted its comment letter to the IASB on ED/2015/1 Classification of Liabilities (Proposed Amendments to IAS 1).
4 Jun 2015
The ASC invites comments on  ED/2015/4  Updating References to the Conceptual Framework by 14 August 2015.
4 Jun 2015
The ASC invites comments on  ED/2015/3  Conceptual Framework for Financial Reporting by 14 August 2015.
21 May 2015
The ASC invites comments on  ED/2015/2  Effective Date of IFRS 15 (Proposed amendments to IFRS 15) by 5 June 2015.
30 Apr 2015

 

We are looking for candidates with an aspiration of shaping developments in accounting standards setting to join the ASC Secretariat as Senior Technical Managers or Technical Managers. To view details, please click here.

7 Apr 2015

NTU-ASC Contemporary Issues in Accounting Conference 2015 on Financial Instruments, Revenue and Consolidation
The ASC, in partnership with the Nanyang Business School at Nanyang Technological University, will be hosting the above conference on 22 May 2015 at the Singapore Marriott Hotel. The conference will provide a platform for preparers, auditors, academia and the ASC to share the key requirements and implications of the new Financial Instruments and Revenue standards as well as the implementation experiences with the recently effective Consolidation standard.
For more information on the conference, please click here.
For registration, please click here.

1 Apr 2015
The ASC has submitted its comment letter to the IASB on ED/2014/6 Disclosure Initiative (Proposed Amendments to IAS 7).
18 Mar 2015
The ASC has submitted its comment letter on ED/2014/5 Classification and Measurement of Share-based Payment Transactions (Proposed Amendments to IFRS 2).
5 Mar 2015

'You get heard if you participate'
This article features ACCA’s interview with ASC Deputy Chairman, Nagaraj Sivaram, on the ASC’s accounting standard-setting process and the importance of stakeholder involvement in this standard-setting process. The article was previously published in the ACCA’s Accounting and Business Magazine January 2015 issue.

16 Feb 2015

We are looking for candidates with an aspiration of shaping developments in accounting standards setting to join the ASC Secretariat as Senior Technical Managers or Technical Managers. To view details, please click here.

11 Feb 2015
The ASC invites comments on  ED/2015/1  Classification of Liabilities (Proposed amendments to IAS 1) by 24 April 2015.
6 Feb 2015

ASC Outreach on Full Convergence with IFRS
The ASC conducted an outreach session on full convergence with IFRS in December 2014 for Singapore-incorporated companies listed on Singapore Exchange. Please click here for further information.

22 Jan 2015
The ASC has issued Amendments to FRS 110, FRS 112 and FRS 28: Investment Entities: Applying the Consolidation Exception, effective for annual periods beginning on or after 1 January 2016. 
22 Jan 2015
The ASC has issued Amendments to FRS 1: Disclosure Initiative, effective for annual periods beginning on or after 1 January 2016. 
16 Jan 2015

2015 Volume
The collection of FRSs and INT FRSs that is required to be applied for annual period beginning on 1 January 2015, is now available. This collection includes official pronouncements that have been issued by the ASC up to 31 December 2014, but does not include new/revised/amendments to FRSs and INT FRSs which are effective for annual periods beginning after 1 January 2015.