Business trusts need to adopt new financial framework: MAS
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Singapore
THE financial statements of authorised collective investment schemes (CIS) - which include real estate investment trusts (Reits) - will not have to follow the new and upcoming Singapore financial reporting framework, but registered business trusts listed in Singapore will have to.
Authorised CIS will continue to prepare financial statements using accounting practices recommended by the Institute of Singapore Chartered Accountants (ISCA).
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