SFRS(I) 12 Disclosure Requirements: Reassess Reporting Obligations for Interests in Other Entities
Entities with interests in subsidiaries, joint arrangements, associates or unconsolidated structured entities should ensure that their SFRS(I) 12 disclosure assessment is complete and properly documented. The standard also requires transparent disclosure of...
SFRS(I) 15: Estimation Methods and Practical Challenges
Entities applying SFRS(I) 15 must allocate the transaction price to each distinct performance obligation based on relative standalone selling prices (SSPs). When direct SSPs are unavailable, the standard permits estimation using prescribed approaches – adjusted market...
IRAS Clarifies Administration of Refundable Investment Credit Scheme
IRAS has updated the administrative procedures for applications and claims under Singapore’s Refundable Investment Credit (RIC) scheme. The update clarifies the roles of the approving agencies, the claim verification process, utilisation options, and the procedures...
AI-Enabled Audit Practice and Governance Considerations
Artificial intelligence is becoming an essential component of modern audit practice, particularly as audit clients increasingly adopt digital tools, automation, cloud systems and AI-enabled business processes. For audit firms, the practical value of AI lies not in...
M&A Tax: Managing Deal Risk Through Due Diligence, Structuring and Contractual Protection
Mergers and acquisitions are rarely driven by tax alone, but tax can materially affect whether a transaction is commercially viable, how it should be structured, and how value is ultimately preserved. In any M&A transaction, tax considerations may affect the...
AI Adoption for SMPs: From Experimentation to Execution
Following the session on “AI and SMPs: What’s Changing, What Matters, What’s Next”, the message is clear: AI is no longer optional, but it must be adopted with discipline, safeguards, and professional oversight. The accountancy sector is ahead of many industries in...
Singapore–Bhutan Tax Treaty Signed, Subject to Ratification
Singapore and Bhutan signed a new Double Tax Agreement on 12 May 2026 covering taxes on income. The agreement is not yet effective and will take effect only after both jurisdictions complete their ratification procedures. Key tax and business impacts The DTA is...
Cloud Audit Platforms: Move from Optional Upgrade to Strategic Infrastructure for Audit Firms
I attended today’s ISCA and Wolters Kluwer roundtable lunch discussion on how cloud-based audit technologies are reshaping audit delivery, firm operations, cybersecurity expectations, staff retention, and the future use of AI in assurance work. The discussion...
Part 4: Beyond Shareholder Primacy — Systemic Constraints and Collaborative Solutions
The fundamental legal form of the corporation, with its existential imperative for financial solvency and historical focus on shareholder primacy, often acts as a systemic constraint on pursuing wider sustainability goals. Financial drivers (cost, risk, market...
IASB Proposes Targeted Consolidation Relief for Eligible SME
The International Accounting Standards Board has proposed a narrow amendment to the IFRS for SMEs Accounting Standard that would extend consolidation relief to certain intermediate parent entities. The change is intended to reduce reporting costs for eligible SMEs...