Financial accounting

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

Since the end of FY2022, only 32% of companies examined in the EY study made disclosures against all 11 TFCD recommendations, which form the basis for the ISSB-aligned standards.

Over two-thirds of SGX companies unprepared for new sustainability reporting standards: EY study

Firms with financial years ending Dec 31 have under six months to prepare for the transition to ISSB-aligned disclosure standards

This comes on the back of increasing demand for industry-focused advice and cross-border capabilities.

PwC Singapore appoints 11 new partners across different practices

They span a wide range of sectors, including financial services, technology, healthcare, logistics and real estate

The remains of vehicles and buildings that were burned in the recent wildfires in Los Angeles. Sustainability reporting will gain importance as more extreme weather and natural phenomena wreak havoc on communities and businesses.
THE BOTTOM LINE

Accountancy education must evolve quickly to prepare for a sustainable future

IT IS almost unthinkable that accounting students or professionals do not understand or are unable to apply the International Financial Reporting Standards (IFRS), which Singapore has adopted as its k...

Miyoshi's audited financial statements were selected for review by Acra under the authority's financial reporting surveillance programme.

Miyoshi chief executive fined S$22,400 for accounting irregularity

The group’s FY2019 financial statements provide an ‘inaccurate picture’ of its financial health, says Acra

Bob & Co managing director Bob Ng (second from left) and Foodtalks owner Kelvin Ng (second from right), who partnered after a five-year client-consultant relationship, are seen with VIC DHC director Stanley Tan (leftmost) and Bangi Golf Resort, Malaysia executive director Soh Chung-Ky.
BRANDED CONTENT

Driving revenue with improved financial visibility: How cloud accounting primes SMEs for growth

Business consulting firm Bob & Co guides companies to uncover hidden business potential in local and global markets by digitalising their accounts on Xero

If fiscal support for a central bank is lacking, market participants may fear that it will issue additional reserves to finance its liabilities, thus eroding trust in money and putting price stability at risk.
THE BOTTOM LINE

The risks of radical accounting changes

Policymakers, regulators and investors need to be acutely aware of unintended consequences

Smaller firms face a dilemma: raise prices and risk losing clients to competitors, or continue operating at razor-thin margins.

Wanted: New auditor, because the last one tried to raise fees 

With depressed margins, smaller audit firms face a tough call to raise prices – or risk losing clients

Companies should carry hotels at fair value, in line with how they generally carry investment properties.
HOCK LOCK SIEW

Companies should carry hotels and properties held for own use at fair value

Hotel-owning groups such as CDL, UOL and Amara have deeply understated book values