ISCA Issues Audit Bulletin (AB) 3 (Revised Nov 2025) Implementation Of Quality Management Standards
This AB contains frequently asked questions (FAQs) to assist firms in the implementation of the quality management standards1.
AB 3 has been updated to incorporate three new FAQs, providing considerations on time tracking, independence verification and monitoring of completed engagements.
ISCA invites comments on EP 100 ED to adopt two IESBA final pronouncements on using the work of external experts and international ethics standards for sustainability assurance. Key proposed changes include an ethical framework for evaluating external experts, and introduction of a profession-agnostic Part 5 for use by all sustainability assurance practitioners. Please send your comments to Professional Standards by 8 December 2025.
With Singapore’s push to achieve net-zero emissions by 2050, entities are encouraged to adopt sustainable practices such as the use of electricity from renewable sources. In doing so, more and more entities are entering into renewable PPAs or purchasing RECs. Questions have arisen about what PPAs and RECs are, and the appropriate accounting treatment for them.
ISCA, through its Financial Reporting Committee (FRC), has issued FRB 13 to aid the buyers of PPAs and RECs, in selecting the most appropriate accounting standard to apply. This FRB sets out the key considerations for the buyers; it does not address the accounting for the suppliers of PPAs and RECs.
IFRS Foundation Publishes IFRS For SMEs Educational Module 12 – Fair Value Measurement
The IFRS Foundation has published Module 12 – Fair Value Measurement.This educational module supports the requirements for measuring fair value and providing disclosures about fair value measurements in accordance with Section 12 Fair Value Measurement of the IFRS for SMEs Accounting Standard.
IFRS Foundation Issues Webcast 5 On IFRS For SMEs Accounting Standard
This webcast provides an overview of the new Section 12 Fair Value Measurement in the third edition of the IFRS for SMEs Accounting Standard.
Q3 2025 IFRS Interpretations Committee (IFRIC) Podcast Available
This podcast, hosted by Committee Chair Bruce Mackenzie and Committee member Mark Mahar, share discussions relating to two tentative agenda decisions on (1) Classification of a Foreign Exchange Difference from an Intragroup Monetary Liability (or Asset) (IFRS 18), and (2) Economic Benefits from Use of a Battery under an Offtake Arrangement (IFRS 16).
Compilation Of Agenda Decisions – Volume 13 Published
The IFRS Foundation has published Compilation of Agenda Decisions – Volume 13 for the period May to October 2025. It includes the agenda decision made by IFRIC on assessing indicators of hyperinflationary economies that relates to IAS 29 Financial Reporting in Hyperinflationary Economies.
October 2025 IASB Update And Podcast Available
In this IASB Update and Podcast, IASB Vice-Chair Linda Mezon-Hutter and member Rika Suzuki join Executive Technical Director Nili Shah to discuss highlights from the IASB meeting in October 2025, which includes Rate-Regulated Activities, Statement of Cash Flows and Related Matters, and supporting the implementation of IFRS 18.
October/November 2025 Agenda And Meeting Papers Available
At the DPOC meeting on 21 October 2025, the topics discussed include an update on the activities of IASB and IFRIC for the period 1 May 2025 to 30 September 2025, and an update on the activities of ISSB for the period 1 June 2025 to 30 September 2025.
At the IASB meeting on 29 and 30 October 2025, the topics discussed include the continued redeliberation of the proposals in the ED Equity Method of Accounting – IAS 28 Investments in Associates and Joint Ventures (revised 202x), reporting of non-cash changes in assets and liabilities in the Statement of Cash Flows, and exploring of ideas for application requirements to help entities apply the proposed present obligation criterion to levies.
At the CMAC meeting from 5 to 7 November 2025, the topics discussed include seeking CMAC members’ views on Statement of Cash Flows and Related Matters and the proposals in ED Equity Method of Accounting.
ISCA Publishes Roadmap To Navigate SGX’s Climate Reporting Timelines
The Singapore Exchange Regulation and ISCA developed the roadmap to navigate SGX’s climate reporting timelines (Roadmap) to support issuers outside the Straits Times Index (STI) in meeting the extended climate reporting timelines by financial year commencing (FYC) 2028, that is, within the next three years. Non-STI constituents that have until FYC 2030 may adapt the Roadmap for their own use, although they are encouraged to adopt it earlier.
The Roadmap outlines the key incremental disclosures required for issuers to build on their TCFD-aligned climate-related disclosures to comply with the requirements in the ISSB Standards, as a guiding reference to support their transition to the ISSB requirements. It also highlights the key action steps to meet the disclosure requirements.
The Roadmap is developed in support of the Singapore Green Plan 2030.
October 2025 ISSB Update Available
This ISSB Update highlights preliminary decisions of ISSB on topics including Biodiversity, Ecosystems and Ecosystem Services, Human Capital, and Amendments to Greenhouse Gas Emissions Disclosures.
1 The quality management standards comprise:
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