by admin | Oct 8, 2017 | Accounting, Tech News
In response to new and revised auditor reporting standards that came into effect at the end of 2016, companies have stepped up their corporate disclosures. Auditor’s reports now contain more insightful information in the form of key audit matters (KAMs). The enhanced...
by admin | Oct 7, 2017 | Accounting, Tech News
IFRS 16 Leases was issued by the International Accounting Standards Board (IASB) on 13 January 2016 and has a mandatory effective date of 1 January 2019. The IASB staff have recorded a webcast discussing the lease term requirements in IFRS 16 Leases. In the webcast,...
by admin | Oct 4, 2017 | Accounting, Tech News
The Accounting Standards Council (ASC) has submitted comment letters to the International Accounting Standards Board (IASB) on Discussion Paper DP/2017/1 Disclosure Initiative–Principles of Disclosure which was issued in March 2017. The main objective of this...
by admin | Oct 3, 2017 | Accounting, Tech News
The Accounting Standards Council (ASC) has on 29 May 2014 announced that Singapore-incorporated companies listed on Singapore Exchange (SGX) will apply a new financial reporting framework that is identical to the International Financial Reporting Standards (IFRS) on 1...
by admin | Sep 30, 2017 | Accounting, Tech News
Step 2 Identify performance obligations in the contract 6.1 (IFRS 15) FRS 115 Revenue from Contracts with Customers recognises that an entity may have promised more than one product or service to the customer, i.e., sale of 2 products as a bundle. 6.2 Step 2...
by admin | Sep 26, 2017 | Accounting, Tech News
The International Auditing and Assurance Standard Board (IAASB) Quality Control Task Force Chair, Karin French, leads a discussion on proposed changes to International Standard on Quality Control (ISQC) 1 for firms. The proposed changes will result in a restructured...
