GST Missing Trader Fraud
TAKEAWAYS Businesses should understand their obligations and undertake the necessary due diligence to safeguard their own business transactions. The recent Goods and Services Tax (GST) Board of Review’s (the “Board”) decision in GHY v the Comptroller of GST [2023] SGGST 1 (“GHY”) relates to the disallowance of input tax claims for supplies that allegedly took […]
ISCA Mini Conference Series: Insights Into The Review Of Financial Statements
ISCA completed the last instalment of the ISCA Mini Conference Series on 8 November 2023. Organised by the ISCA Financial Statements Review Advisory Panel (FSRAP), more than 250 participants attended this two-hour virtual conference, gaining valuable insights into the review of financial statements. James Xu, Chairman of ISCA FSRAP and Partner, Deloitte & Touche LLP, […]
Impact Of Prompt Engineering On Accountants And Auditors
TAKEAWAYS Artificial intelligence is having a profound impact on the accounting and finance industry and is also revolutionising how products and services are being built and implemented. In accounting and finance, labour-intensive and time-consuming tasks such as audits, banking, tax preparation, bookkeeping, reporting, and payroll have been successfully automated. With the integration of emerging technologies […]
Protected: ISCA Conference 2023: Meeting AI And Sustainability Challenges Head On
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AiCCOUNTANTS®: Accounting With AI, Not By AI
TAKEAWAYS Imagine you are in the year 2030. Artificial intelligence (AI) has fully invaded every piece of software accountants use. Your clients take it for granted that you are an expert in leveraging AI for their benefit. In such a scenario, can you imagine what the work you are doing will be like? For starters, […]
MAS Publishes Code Of Conduct For Providers Of ESG Rating And Data Products
The Monetary Authority of Singapore (MAS) has published its finalised Code of Conduct for ESG (environmental, social and governance) Rating and Data Product Providers (CoC), and an accompanying Checklist for providers to self-attest their compliance to the CoC (Checklist), following a public consultation conducted from June to August 2023. The CoC aims to establish baseline […]
Listing On SGX
TAKEAWAYS Singapore’s capital markets have a strong long-term outlook as Asia remains a world growth engine with significant capital inflows. The enterprises that intend to seek listing would typically have mostly progressed beyond the start-up phase and have strong attributes, which investors expect issuers seeking to raise funds from the capital markets should have, including: […]
Singapore: A Time Of Transition
TAKEAWAYS What would 2024 bring? As I write this article in December, I take a look back at the past 11 months or so, and also ahead – to try to see what the future may hold for us here in Singapore. The Singapore economy avoided a technical recession in 2023, but GDP growth remained […]
Watch What You Eat!
TAKEAWAYS Take your mind back to 2015, a time when food delivery was a luxury and dietary knowledge was limited. The emphasis was on avoiding fat, not sugar, and our understanding of diets was confined mostly to vegetarian or vegan options. Fast forward to today in a post-COVID-19 world, where work from home has become […]
Green FinTechs A Promising New Growth Area In ASEAN
Sustainability is garnering significant investor interest in ASEAN despite uncertain macroeconomic conditions in 2023, with green financial technology (fintech) firms bringing forth innovative solutions to help businesses and governments address challenges and opportunities of going green. This insight was drawn from the FinTech in ASEAN 2023: Seeding the Green Transition report by UOB, PwC Singapore […]