Dear Reader,
Welcome to our E-Newsletter September 2015.
PART 1 TAXATION
The IRAS has issued the new Tax Alerts on its website, IRAS Latest Updates Listing since the previous issue of the 3E E-Newsletter.
The few key alerts are highlighted as below:
> Advisory on Scam & Fraudulent Activities
> Managing Partner Convicted of PIC Fraud
PART 2 REGULATORY & BUSINESS
More Transparency and Audit Insights with Adoption of Enhanced Auditor Reporting Standards
The enhanced auditor reporting standards were issued today by the Institute of Singapore Chartered Accountants (ISCA). The Accounting and Corporate Regulatory Authority (ACRA)’s Public Accountants Oversight Committee (PAOC) has since reviewed and approved the application of these enhanced standards for Singapore. The enhanced standards take effect for audits of financial statements for periods ending on or after 15 December 2016.
More information about New and Revised Auditor Reporting Standards
PART 3 FINANCIAL REPORTING
IASB proposes to postpone accounting changes for associates and joint ventures until completion of broader review
The International Accounting Standards Board (IASB) today published for public consultation a proposal to postpone the date when entities must change some aspects of how they account for transactions between investors and associates or joint ventures.
