Going Concern Audits in an Era of Geopolitical Uncertainty
Audit teams should expect going concern assessments to receive closer scrutiny where entities face liquidity pressure, refinancing risk, customer concentration, supply chain disruption, or reliance on shareholder and group support. In the current environment, going...
Growing Talent from Within: A Local Firm’s Commitment to Future-Ready Accountants
Small and medium-sized practices are entering a period where talent strategy is no longer only an internal human resources matter. It is now central to service quality, client resilience, and the long-term relevance of the profession. As small businesses increasingly...
Updates on Annual Return Filing, BizFile Enhancements and BizFin Preparation Tool
Key Development ACRA has provided important updates affecting Singapore companies, corporate service providers, directors, position holders and financial statement preparers. The updates cover annual return filing obligations, late filing penalties, upcoming changes...
IRAS: Change of Tax Reference Numbers for Estates/ Trusts/ Unit Trusts
The Inland Revenue Authority of Singapore will implement a new tax reference number format for Estates, Trusts and Unit Trusts from July 2026. The existing 10-character Income Tax Reference ID will be replaced by a 9-character ASGD ID in the format AXXXXXXXX. Key...
New Form for Appointing Corppass Administrator Across Multiple Trust Entities
IRAS has released a new form allowing the appointment of a Corppass Administrator for multiple estate, trust or unit trust entities. The appointed individual will be authorised to transact with IRAS on behalf of those entities, supporting more centralised digital tax...
IASB Clarifies Use of Fair Value Option for Associates and Joint Ventures under IAS 28
The International Accounting Standards Board has issued targeted amendments to IAS 28 to clarify when investments in associates and joint ventures may be accounted for using the fair value option. The amendments are linked to the forthcoming application of IFRS 18 and...
GST Input Tax Claims on Employee Fringe Benefits: Key Compliance Considerations
GST-registered businesses should review the GST treatment of employee fringe benefits before including input tax claims in their GST returns. While some employee-related costs may support business operations, input tax is not automatically recoverable where the...
Revisit to IFRS 15 Revenue Recognition
Revenue recognition remains one of the most judgemental areas in financial reporting. Although IFRS 15 Revenue from Contracts with Customers has been effective for several years, practical application continues to require careful analysis of contract terms, commercial...
Staff Announcement: ACCA Qualification Redesign in 2027
ACCA is redesigning its qualification, with the new structure being introduced from 2027. Staff currently studying ACCA should take note of the key changes and continue progressing under the existing route until the transition takes effect. New Qualification Structure...
Strengthening Investment Governance: Applying Market Cycle, Momentum and Risk Controls to Investment Decisions
A disciplined investment process should not rely solely on headlines, market commentary, or short-term price opinions. Effective investment analysis requires a structured assessment of market conditions, sector leadership, price momentum, volume behaviour, and...