Essential Updates in Financial and Sustainability Reporting Standards

Description

The following group discounts are available:

Promotional Code “ GP2-15 ” – 15% group discount for 2 registrations for any event
Promotional Code “ GP3-20 ” – 20% group discount for 3+ registrations for any event
Promotional Code “ GP5-30 ” – 30% group discount for 5+ registrations for any event

This is a hybrid session. You have the option to attend this live in-person or online via Zoom. Please select accordingly at registration.

This workshop will share practical and salient updates on key changes in the Singapore Financial Reporting Landscape. The Trainer will also discuss practical ways to manage and mitigate the accounting impact arising from climate change movements.

Practical Examples and Illustrations will be used throughout the workshop to demonstrate the real-life application of these updates and changes.

Programme Outline

Effective from 1 January 2024

FRS 1(Amendments) Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants
FRS 12 (Amendments) Lease liability in a Sale and Leaseback
FRS 107 (Amendments) Supplier Finance Arrangements

Effective from 1 January 2025

FRS 21 (Amendments) Lack of exchangeability

Effective from 1 January 2026

IFRS 9 (Amendments) –

Classification of a financial asset with environmental, social and corporate governance (ESG) and similar features
Settlement of liabilities through electronic payment systems

Effective from 1 January 2027

FRS 118 (replacing FRS 1)

Sustainability reporting standards

On 30 January 2025, The IFRS Foundation has published a new guide, Applying IFRS S1 when reporting only climate-related disclosures in accordance with IFRS S2, which aims to help companies understand how to report only climate-related information when applicable using International Sustainability Standards Board (ISSB) Standards. It is especially designed for entities that avail themselves of the temporary relief that allows the disclosure of information on only climate-related risks and opportunities (in accordance with IFRS S2) in the first annual reporting period of applying IFRS S1. These entities apply the requirements in IFRS S1 only insofar as they relate to the disclosure of information on climate-related risks and opportunities.

This workshop qualifies for 7.0 CPE hours in Financial and Sustainability Reporting Standards and Pronouncements (Category 1).

What you will learn

Keep abreast of the recent Financial and Sustainability Reporting Standards Updates and Changes
Understand the accounting impact from climate change movements
Understand the real-life application of these updates and changes

Target Audience

Accountants
CFOs and Finance Managers
Audit Professionals
Directors and Audit Committee Members

Expert Speaker

Chee Hay Kheong Daniel

Daniel holds an Honours degree in Accountancy from the National University of Singapore and is a Certified Information Systems Auditor (CISA). He has more than 15 years of experience in the accounting profession, having worked for one of the Big 4 accounting firms both in Singapore and in the United Kingdom. He has also more than 5 years of senior management experience with MNCs, managing their operations in Singapore and Asia.

Daniel is a highly sought-after seminar trainer. He was an Adjunct Professor in the School of Business, Singapore University of Social Sciences and an Adjunct Associate Professor in the Department of Accounting of the NUS Business School. He served as a committee member of both the IT Committee and the Examination Committee of ISCA, and was a Committee member of the Disciplinary Sub-Committee of Accounting and Corporate Regulatory Authority (ACRA).