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Currently, the Singapore Public Accountants Oversight Committee (PAOC) of the Accounting and Corporate Regulatory Authority, [1] established under the Accountants Act to determine, prescribe and review the requirements to be satisfied by people seeking to be registered as public accountants in Singapore, will not register any person as a public accountant unless the person is a member of ISCA.
Charity Commission, Office of the Scottish Charity Regulator and Charity Commission for Northern Ireland Charities SORP (FRS 102) – Accounting and Reporting by Charities : Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of ...
In March 2013 the FRC (now responsible for issuing accounting standards in the UK) issued FRS 102, The Financial Reporting Standard Applicable in the UK and Republic of Ireland. This followed the issue of FRS 100 Application of Financial Reporting Requirements and FRS 101 The Reduced Disclosure Framework in November 2012.
The MOF oversees 3 statutory boards, which are the Accounting and Corporate Regulatory Authority (ACRA), Inland Revenue Authority of Singapore (IRAS) and Tote Board. It also had 3 departments, the Accountant-General's Department (AGD), Singapore Customs [2] and VITAL.
This is a list of the International Financial Reporting Standards (IFRSs) and official interpretations, as set out by the IFRS Foundation. It includes accounting standards either developed or adopted by the International Accounting Standards Board (IASB), the standard-setting body of the IFRS Foundation.
The CDAS was formed by the Ministry of Finance in December 2008 to undertake a review of the Singapore accountancy sector and profession. [7] The CDAS, chaired by Bobby Chin, chairman of the Singapore Totalisator Board and formerly managing partner of KPMG LLP Singapore, comprised members of the accounting profession, the business community, academia and the public sector. [7]
The General Accounting Office of the Nation has not yet complied with the decree, but it is making a great effort to implement the mandate and to install a reliable accounting system. It is also preparing the government staff to become proficient in the knowledge and practical use of IPSAS.
International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). [1] They constitute a standardised way of describing the company's financial performance and position so that company financial statements are understandable and ...