This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Singapore will adopt IAS for listed companies

  • Singapore Image

14 Dec 2001

Early in 2002, the Singapore government will propose amendments to its Companies Act to require nearly all listed companies to use IAS starting 1 January 2003. For this purpose, the Government will establish an independent panel (to be known as the Council on Corporate Disclosure and Governance) to adopt the IAS as Financial Reporting Standards (Singapore), or FRS(S).

If a Singapore-incorporated company is also listed on a foreign exchange that requires foreign GAAP financial statements, and the Singapore Stock Exchange (SGX) accepts those foreign-GAAP statements, then that company would not be required also to publish or reconcile to FRS(S) statements. The Singapore Registry of Companies and Businesses may permit unlisted companies to use alternative standards that are allowed by the SGX.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.