Accounting in Singapore

  • Auditors and Audit Report Changes

    Auditors in Favor of Curbing Proposed Audit Report Changes The Public Company Accounting Oversight Board, simply known as PCAOB, has recently come out with a proposal to implement some changes in the auditor’s report. This is the result of years of study and deliberation. The more

  • Audit and Poor Internal Controls

    Financial Statement Audits Adversely Affected by Poor Internal Control Tests According to a new practice alert issued recently by the Public Company Accounting Oversight Board (often simply referred to as PCAOB), deficiencies in internal control audits may result to insufficient disclosures in the audit reports. more

  • Unifying Accounting treatment of Leases

    The Financial Accounting Standards Board (FASB) of USA and the International Accounting Standards Board (IASB) have been collaborating in an effort to eventually unify accounting standards worldwide. FASB and IASB long term plan is for the convergence of the differing accounting standards currently used around more

  • How to Reduce Share Capital

    Running a company is not easy and if you own one in Singapore, then you might be faced with the decision to reduce the share capital should certain circumstances crop up, here are some scenarios which may warrant such a move: Your shareholders wish to more

  • True and Fair Presentation

    In recent months, the IFRS, or International Financial Reporting System, has come under scrutiny in the UK. In a nutshell, it is believed that businesses are not providing “true and fair” statements regarding their earnings and expenditures following their registration, something that could have a more

  • What You Don't Know About The Intangibles

    The Intangibles of M&A Deals Economies are slowly recovering and companies, last year, made quite a few mergers and acquisitions to mark the post-2008 financial recovery. One of the biggest mergers and acquisitions in 2012 were the acquisition of Fraser & Neave in Singapore by more

  • Transfer pricing issues in Singapore

    Introduction As the business environment becomes more complex, there is a need for organizations to expand beyond traditional boundaries. It is not uncommon for businesses to have operations in various countries and jurisdictions. For example one company may have a manufacturing base in China, a more

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