Accounting

Global accounting body IASB consults on new model for assessing bank risks

The model will attempt to replace a transaction-driven view of how banks manage interest rate risks

The model would be optional and would sit alongside existing rules, rather than replace them.

How banks handle interest rate swings may soon be clearer to investors

Newly proposed rules by International Accounting Standards Board centre on new Risk Mitigation Accounting model

Additional focus areas include tariff-related issues such as impairment risks, cost and expenditure assumptions, and customer creditworthiness.

Acra wants boards to scrutinise the numbers ahead of FY2025 reporting

This call to action comes amid the global economic uncertainties from trade and tariff-related risks

The Big 4 accounting firms continued to account for about 70% of the sector's total revenue in 2024.

Big 4 accounting firms drive nearly half of sector’s total revenue growth in 2024: survey

The sector continues to hire, and expects to grow its workforce by opening up more than 1,500 positions

Second Minister for Finance Indranee Rajah says enrolments in the Singapore Chartered Accountants Qualification have more than trebled since 2022.

New accountancy pathways for ITE graduates; free AI training for accountants: Indranee

National accountancy body also launches climate and social-impact reporting guidelines

For accountants willing to embrace new skills, adapt to emerging technologies, and bring human insight to increasingly data-driven environments, the future is not one of reduced relevance, but greater impact.
 STRATEGY SPOTLIGHT

Future-proofing accountants in an AI-driven world

Far from replacing accountants, artificial intelligence is creating opportunities for the profession to evolve into more strategic, analytical, and trusted advisory roles

The survey polled 1,725 business leaders at director level and above across 10 markets, including 250 in Singapore.

Chartered accountants rank second in trust among Singapore professions: survey

Globally, the occupation places third, behind doctors and engineers

Regulators have given Singapore-listed companies up to five more years to align climate reporting with IFRS standards.
ESG INSIGHTS

Issue 161: SGX extends climate reporting deadlines; Piyush Gupta banks on blended finance, carbon markets

This week in ESG: Market regulator unveils tiered rollout of reporting requirements; former DBS CEO sees market mechanisms lowering decarbonisation costs

Economists, policymakers and AI experts agree on one thing: All industries will be affected by AI – even manual ones, albeit to a lesser degree.

Will AI kill media, law, accounting jobs in Singapore? The fears may be overblown

Users and experts weigh in on the concern foremost on the minds of workers and jobseekers today

Singapore-listed companies rely on internal stakeholders significantly more than external ones to identify material sustainability-issues.
ESG INSIGHTS

Issue 158: Who says what’s material for Singapore firms; catastrophe payouts pile up for insurers

This week in ESG: Study finds lack of external input in materiality identification; US$80 billion of insured losses from natural catastrophes in H1 2025, says Swiss Re Institute