2024 ASC News

23 December 2024
The ASC has issued Amendments to SFRS(I) 9 and SFRS(I) 7: Contracts Referencing Nature-dependent Electricity and Amendments to FRS 109 and FRS 107: Contracts Referencing Nature-dependent Electricity, effective for annual reporting periods beginning on or after 1 January 2026.

15 November 2024
The ASC has submitted its comment letter to the IASB on ED/2024/6 Climate-related and Other Uncertainties in the Financial Statements.

15 November 2024
The ASC has submitted its comment letter to the IASB on ED/2024/5 Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures.

13 November 2024
The ASC invites comments on Exposure Draft ED/2024/8 Provisions—Targeted Improvements by 20 January 2025.

25 October 2024
The ASC has issued SFRS(I) 19 Subsidiaries without Public Accountability: Disclosures and FRS 119 Subsidiaries without Public Accountability: Disclosures, effective for annual reporting periods beginning on or after 1 January 2027.

4 October 2024
The ASC has issued SFRS(I) 18 Presentation and Disclosure in Financial Statements and FRS 118 Presentation and Disclosure in Financial Statements, effective for annual reporting periods beginning on or after 1 January 2027.

4 October 2024
The ASC has issued Amendments to SFRS(I) 9 and SFRS(I) 7: Amendments to the Classification and Measurement of Financial Instruments and Amendments to FRS 109 and FRS 107: Amendments to the Classification and Measurement of Financial Instruments, effective for annual reporting periods beginning on or after 1 January 2026.

4 October 2024
The ASC has issued Annual Improvements to SFRS(I)s—Volume 11 and Annual Improvements to FRSs—Volume 11, effective for annual reporting periods beginning on or after 1 January 2026.

20 September 2024
The ASC invites comments on Exposure Draft ED/2024/7 Equity Method of Accounting—IAS 28 Investments in Associates and Joint Ventures (revised 202x) by 25 November 2024.

1 August 2024
The ASC invites comments on Exposure Drafts ED/2024/5 Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures and ED/2024/6 Climate-related and Other Uncertainties in the Financial Statements by 30 September 2024.

26 July 2024
The ASC invites comments on Exposure Draft ED/2024/4 Translation to a Hyperinflationary Presentation Currency by 10 September 2024.

19 July 2024
The ASC has submitted its comment letter to the IASB on ED/2024/3 Contracts for Renewable Electricity.

15 July 2024
The ASC has submitted its comment letter to the IASB on ED/2024/1 Business Combinations—Disclosures, Goodwill and Impairment.

8 May 2024
The ASC invites comments on Exposure Draft ED/2024/3 Contracts for Renewable Electricity by 24 June 2024.

22 April 2024
With effect from 22 April 2024, Mrs Chia-Tern Huey Min has assumed the position as the Chief Executive of the Accounting and Corporate Regulatory Authority (ACRA) and is appointed as a member of the ASC. The composition of the ASC can be found here.

28 March 2024
The ASC has submitted its comment letter to the IASB on ED/2023/5 Financial Instruments with Characteristics of Equity—Proposed amendments to IAS 32, IFRS 7 and IAS 1.

14 March 2024
The ASC invites comments on Exposure Draft ED/2024/1 Business Combinations—Disclosures, Goodwill and Impairment by 17 May 2024.

15 January 2024
2024 Volumes of SFRS(I)s and FRSs
The ASC has published the collections of SFRS(I)s and FRSs that are required to be applied for annual reporting period beginning on 1 January 2024. The collections include official pronouncements that have been issued by the ASC up to 31 December 2023, but do not include new/revised/amendments to SFRS(I)s and FRSs which are effective for annual reporting periods beginning after 1 January 2024.

15 January 2024
With effect from 15 January 2024, Mr Sanjay Nanwani has assumed the position as the Registrar of the Registry of Societies, Ministry of Home Affairs, and is appointed as a member of the ASC. The composition of the ASC can be found here.