Singapore Raises 2026 GDP Forecast To “4.5–5.5%”
Singapore has revised its full-year GDP growth forecast to 4.5 to 5.5%, up from the earlier 2.0 to 4.0%. The announcement, made in August, reflects the better-than-expected performance of the Singapore economy in the first half of the year (6.1% growth year-on-year), as well as an improved outlook for the rest of the year due […]
Small, Mid-Cap Firms Paying More Attention To Governance
As Singapore’s capital market ecosystem moves toward revitalisation, the role of corporate governance comes into greater focus. This is an area of opportunity for accountants to add more value to their organisations. As the gatekeepers of governance and financial reporting, accountants play an essential role in how companies fulfil their corporate governance obligations and policies. […]
Disconnected AI Systems Creating More Work For Staff
TAKEAWAYS While workers across the region are optimistic about artificial intelligence (AI) and believe it helps them complete individual tasks more quickly, four in five employees say navigating processes and systems is a source of stress. In fact, one in five workers lose over seven hours a week moving information and reconciling data. Oftentimes, whatever […]
TECHNICAL HIGHLIGHTS
AUDITING AND ASSURANCE ISCA Issues SSA 570 (Revised 2024), SSA 240 (Revised)And Amendments To Standards Following Revisions To Definitions Of Listed Entity And Public Interest Entity In Ethics Code ISCA has issued SSA 570 (Revised 2024) Going Concern and SSA 240 (Revised) The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements, to […]
Beyond Enrolment Headlines
TAKEAWAYS Earlier this year, discussions on university course preferences suggest that students increasingly gravitate towards disciplines such as computing and data science. This has led to a growing narrative that accountancy is in decline. A closer look at employment outcomes, career pathways and evolving industry demand tells a different story. What we are seeing is […]
Transforming Financial Data Into Strategic Narratives
TAKEAWAYS Intuitively, the role of finance professionals is to produce accurate financial numbers. However, financial numbers on their own rarely drive decisions. Board directors and management of organisations make decisions only when they understand the meaning and impact behind those numbers. Hence, it is incumbent upon finance professionals to also appropriately communicate substantially meaningful messages […]
Climate And Sustainability Risks And Opportunities (Part 2 Of 2)
TAKEAWAYS Part 1 of this article discusses the role of extra-financial data in assessing a company. This article continues the conversation. While IFRS S2 requires companies to use climate-related scenario analysis to assess business resilience and inform strategic interventions, it does not prescribe the scenarios, modelling approach or output metrics. In fact, IFRS S2 has […]
Happy 61st National Day, Singapore!
For the first time, Singapore’s accountancy profession will take its place at the National Day Parade (NDP), as ISCA leads a civilian marching contingent in NDP 2026. This milestone is a proud moment for ISCA and a meaningful recognition of a profession that has quietly supported Singapore’s growth for decades. Bringing together accountants, aspiring Chartered […]
Climate And Sustainability Risks And Opportunities (Part 1 Of 2)
TAKEAWAYS We are well-practised in assessing a company based on its financial data. That is now considered inadequate, and we can no longer bury our heads in the (fast-heating) sand. Considerations to include extra-financial data – what we now term ESG (environmental, social and governance) or sustainability data – emerged decades ago. In 1974, the […]
TECHNICAL HIGHLIGHTS
AUDITING AND ASSURANCE ISCA Issues Audit Bulletin (AB) 9 Inclusion Of Public Accountant’s Name In Auditor’s Report Section 59A of the Accountants Act applies to auditor’s reports dated on or after 6 May 2026. Under the new requirement, public accountants and accounting entities that fall within the scope of Section 59A(4) must clearly state the […]