The ASC has issued Amendments to FRS 109: Prepayment Features with Negative Compensation and Amendments to FRS 28: Long-term Interests in Associates and Joint Ventures, effective for annual periods beginning on or after 1 January 2019.

The ASC has issued the Singapore Financial Reporting Standards (International) (SFRS(I)s), Singapore's equivalent of the International Financial Reporting Standards (IFRSs). The new financial reporting framework is available for application for annual periods beginning on or after 1 January 2018. Please click here for the press release.

The ASC has submitted its comment letter to the IASB on ED/2017/4 Property, Plant and Equipment–Proceeds before Intended Use (Proposed amendments to IAS 16).

The ASC has submitted its comment letter to the IASB on Discussion Paper DP/2017/1 Disclosure Initiative–Principles of Disclosure.

The ASC has submitted its comment letter to the IASB on Request for Information: Post-implementation Review–IFRS 13 Fair Value Measurement .

The ASC has issued INT FRS 123: Uncertainty over Income Tax Treatments, effective for annual periods beginning on or after 1 January 2019.

The ASC invites comments on ED/2017/6 Definition of Material (Proposed amendments to IAS 1 and IAS 8) by 1 December 2017.

The ASC invites comments on ED/2017/5 Accounting Policies and Accounting Estimates (Proposed amendments to IAS 8) by 1 December 2017.

The ASC has submitted its comment letter to the SME Implementation Group on IFRS for SMEs Draft Q&A Accounting for financial guarantees in parent's separate financial statements.

The ASC has submitted its comment letter to the IASB on ED/2017/2 Improvements to IFRS 8 Operating Segments (Proposed amendments to IFRS 8 and IAS 34) .

ASC-ISCA Round-table on Principles of Disclosure
The ASC and the Institute of SIngapore Chartered Accountants (ISCA) invite interested stakeholders to participate at the ASC-ISCA round-table meeting on the IASB's Discussion Paper on Principles of Disclosure on 24 July 2017. Registration should be submitted to the ASC by 12 July 2017.

The ASC invites comments on IFRS for SMEs Draft Q&A Accounting for financial guarantees in parent's separate financial statements by 4 August 2017.

The ASC invites comments on ED/2017/4 Property, Plant and Equipment – Proceeds before Intended Use (Proposed amendments to IAS 16) by 4 September 2017.

The ASC invites comments on Request for Information: Post-implementation Review –IFRS 13 Fair Value Measurement by 11 August 2017.

The ASC has submitted its comment letter to the IASB on ED/2017/3 Prepayment Features with Negative Compensation (Proposed amendments to IFRS 9).

The ASC invites comments on ED/2017/3 Prepayment Features with Negative Compensation (Proposed amendments to IFRS 9) by 11 May 2017.

The ASC has submitted its comment letter to the IASB on ED/2017/1 Annual Improvements to IFRSs (2015-2017 Cycle).

The Minister for Finance has appointed two new members to the ASC. Mr Ong Khiaw Hong and Dr Ang Hak Seng will replace their respective predecessors Mr Kenneth Yap and Mr Low Puk Yeong. The composition of the ASC can be found here. Click here for the press release issued by the Ministry of Finance.

The ASC invites comments on DP/2017/1 Disclosure Initiative – Principles of Disclosure by 31 July 2017.

The ASC invites comments on ED/2017/2 Improvements to IFRS 8 Operating Segments (Proposed amendments to IFRS 8 and IAS 34) by 26 May 2017.

The ASC invites comments on ED/2017/1 Annual Improvements to IFRSs (2015-2017 Cycle) by 3 March 2017.

The SFRS for Small Entities that is required to be applied for annual periods beginning on or after 1 January 2017, is now available. This SFRS for Small Entities incorporates the 2015 Amendments to the SFRS for Small Entities issued by the ASC.