Growing Importance of Sustainability, AI and Professional Skills for Accountants
The role of the accountant is evolving rapidly as businesses respond to sustainability expectations, artificial intelligence, digital transformation and increasing demand for trusted professional judgement. Accounting firms and finance teams must ensure that their...
IRAS Notify of Mandatory GST InvoiceNow Implementation Timeline
The Inland Revenue Authority of Singapore has indicated that GST-registered businesses already on InvoiceNow before 2026 will receive notification of their compulsory GST InvoiceNow implementation date by mid-2026. Businesses that are already GST-registered may also...
Transfer Pricing Treatment of Share-Based Compensation
IRAS has updated its Transfer Pricing Guidelines to clarify how share-based compensation should be treated when determining cost bases and service income for transfer pricing purposes. The new guidance applies from Year of Assessment 2026 and is particularly relevant...
IRAS Issues Registration FAQ for Singapore Pillar Two Top-up Taxes
IRAS has released new guidance addressing registration requirements for multinational enterprise groups subject to Singapore’s Pillar Two top-up tax regime. The FAQ covers registration for the multinational enterprise top-up tax, domestic top-up tax, and related GloBE...
Singapore Global Minimum Tax — Compliance Readiness for MNE Groups
Singapore’s Global Minimum Tax framework is now a live compliance issue for in-scope multinational enterprise groups. With the Multinational Enterprise (Minimum Tax) Act 2024 taking effect for financial years beginning on or after 1 January 2025, affected groups...
IASB Issues IFRS 20 for Companies Subject to Rate Regulation
The International Accounting Standards Board has released IFRS 20, a new standard addressing financial reporting by entities operating under certain forms of rate regulation. The standard is effective for annual reporting periods beginning on or after 1 January 2029,...
Case Study: Embracing AI in an Accounting and Audit Firm
Background A mid-sized accounting and audit firm, Lim & Partners Advisory (invented firm name) had been serving small and medium-sized enterprises for more than 15 years. The firm provided statutory audit, tax compliance, accounting, payroll, and advisory...
AI Adoption – Empowering Your Business for the Future
The adoption of artificial intelligence is moving beyond basic experimentation into structured workforce and business transformation. While many businesses have started using AI tools for productivity, the next stage requires stronger workforce readiness, clearer...
Building a Stronger Data Protection Foundation
Data protection and cybersecurity are no longer optional support functions. They are now core business controls that protect customer trust, operational continuity, regulatory compliance, and organisational reputation. As cyber incidents, ransomware, unauthorised...
ACRA Launches Refreshed Skills Framework for AI and Sustainability Reporting
The Accounting and Corporate Regulatory Authority (ACRA) has launched a refreshed Skills Framework for Accountancy, marking a significant update to Singapore’s accountancy talent roadmap as artificial intelligence, automation, data analytics, and sustainability...