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Singapore-listed firms to adopt new reporting framework in 2018

Published on May 29, 2014 9:01 PM
 
Singapore-listed companies will adopt a new financial reporting framework similar to the International Financial Reporting Standards (IFRS) in 2018. -- PHOTO: ST FILE

SINGAPORE-LISTED companies will adopt a new financial reporting framework similar to the International Financial Reporting Standards (IFRS) in 2018.

The move was announced by the Singapore Accounting Standards Council (ASC) and the Singapore Exchange (SGX) in a joint statement on May 29.

The ASC will continue to work with the Monetary Authority of Singapore and SGX on other related issues, they said.

This includes whether and when to extend the new financial reporting framework to other SGX-listed entities, such as real estate investment trusts and business trusts; and the transition arrangement for entities seeking to list on SGX.

 
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