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FR Local News
ISCA Issues FRB 13 Accounting for Renewable Power Purchase Agreements (PPAs) and Renewable Energy Certificates (RECs): From the perspective of a buyer/holder
12 Nov 2025
With Singapore’s push to achieve net-zero emissions by 2050, entities are encouraged to adopt sustainable practices such as the use of electricity from renewable sources. In doing so, more and more entities are entering into renewable power purchase agreements (PPAs) or purchasing renewable energy certificates (RECs). Questions have arisen about what PPAs and RECs are and the appropriate accounting treatment of PPAs and RECs.
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FR Local News
ASC issues the Amendments to SFRS(I) 19 and Amendments to FRS 119
10 Nov 2025
The Accounting Standards Committee (ASC) has issued the Amendments to SFRS(I) 19 Subsidiaries without Public Accountability: Disclosures and Amendments to FRS 119 Subsidiaries and Small Entities without Public Accountability: Disclosures, effective for annual reporting periods beginning on or after 1 January 2027.
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FR Local News
ISCA Comments On IASB's Request For Information – Post-implementation Review IFRS 16 (“RFI”)
15 Oct 2025
This RFI is part of the IASB's due process aimed at evaluating whether IFRS 16 is functioning as intended and meeting its objectives.
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FR Local News
Issuance of FRB 12 (Revised October 2025)
03 Oct 2025
As announced in Singapore Budget 2024, Singapore published the Multinational Enterprise (Minimum Tax) Act (MMT Act) to implement new corporate taxes under Pillar Two of BEPS 2.0 initiative ("Pillar Two legislation").
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FR Local News, SR News
Extended Timelines for Most Climate Reporting Requirements to Support Companies
29 Aug 2025
The Accounting and Corporate Regulatory Authority (ACRA) and Singapore Exchange Regulation (SGX RegCo) have extended the implementation timelines for climate reporting (including external assurance) to support listed companies and large non-listed companies (Large NLCos) in developing their reporting capabilities.
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FR Local News
ASC issues amended FRS 119 Subsidiaries and Small Entities without Public Accountability: Disclosures and third edition of the SFRS for Small Entities
18 Aug 2025
ASC has issued (i) amendments to Financial Reporting Standard (FRS) 119 Subsidiaries and Small Entities without Public Accountability: Disclosures, effective for annual reporting periods beginning on or after 1 January 2027 and (ii) third edition of the Singapore Financial Reporting Standard (SFRS) for Small Entities, effective for annual reporting periods beginning on or after 1 January 2027.
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FR Local News
ASC has withdrawn Practice Statement 1 Management Commentary from FRS with effect from 24 June 2025
25 Jun 2025
Practice Statement 1 provides non-mandatory guidance for non-listed entities that prepare management commentary for internal use. An entity's financial statements can comply with FRS without preparing its management commentary in accordance with Practice Statement 1.
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FR Local News
ISCA Invites Comments on IASB’s Request for Information on Post-implementation Review of IFRS 16
23 Jun 2025
IASB has issued a request for information (RFI) to obtain comments from stakeholders. The aim is to determine whether the requirements in IFRS 16 Leases provide useful information to users of financial statements, and whether the effects of applying the new requirements on users of financial statements, preparers, auditors and regulators are as intended when the new requirements were developed. ISCA requires all comments to be submitted to professionalstandards@isca.org.sg by 3 September 2025 (Wednesday).
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FR Local News
ISCA Issues FRB 12 Accounting Implications arising from the Multinational Enterprise (Minimum Tax) Act in Singapore
12 Jun 2025
ISCA issues FRB 12 Accounting Implications arising from the Multinational Enterprise (Minimum Tax) Act in Singapore to support entities in understanding the accounting implications arising from the MMT Act in Singapore.
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FR Local News
Key accounting reminders on U.S. tariffs
18 Apr 2025
The recent introduction of baseline and additional reciprocal tariffs by the US has raised concerns about potential shifts in the global trade landscape. These changes bring implications that could significantly impact businesses and their operations.
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