IAASB Announces Withdrawal Of ISAE 3410 For Assurance Engagements On Greenhouse Gas Statements
The withdrawal of ISAE 3410 follows the issuance of International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements, which covers assurance requirements across all types of sustainability information. ISSA 5000 is effective for assurance engagements on sustainability information reported for periods beginning on or after 15 December 2026, or as at a specific date on or after 15 December 2026. Consequently, the withdrawal of ISAE 3410 will take effect from the effective date of ISSA 5000.
ISCA will be adopting the Singapore equivalent of ISSA 5000 – the Singapore Standard on Sustainability Assurance (SSSA) 5000. The effective date of SSSA 5000 is expected to be aligned to ISSA 5000. Similarly, SSAE 3410 will be withdrawn as of the effective date of SSSA 5000.
New FAQ On Going Concern Now Available From IAASB
The International Auditing and Assurance Standards Board (IAASB) has published a new Frequently Asked Questions (FAQ) document to support stakeholders as they implement International Standard on Auditing (ISA) 570 (Revised 2024), Going Concern. ISA 570 (Revised 2024) is effective for audits of financial statements for periods beginning on or after 15 December 2026.
The FAQ document addresses key questions on the enhanced auditor reporting model for going concern that is included in the revised standard. Specifically, it focuses on the implications for the auditor’s report when reporting entity-specific going concern matters in a section titled “Going Concern” or “Material Uncertainty Related to Going Concern”. It also provides an illustrative example of an auditor’s report that provides a description of how the auditor evaluated management’s assessment of going concern.
IESBA Q&A: Tax Planning Services And Activities
IESBA has released a Questions and Answers (Q&A) publication to support the adoption and implementation of the IESBA Tax Planning and Related Services Standards. The Q&A publication is designed to highlight, illustrate, or explain aspects of the standards and is intended to complement the Basis for Conclusions for the final pronouncement.
April IASB Podcast And Q1 2025 IFRS Interpretations Committee (IFRIC) Podcast Available
In this podcast, International Accounting Standards Board (IASB) member Bertrand Perrin joins IASB Executive Technical Director Nili Shah to share updates on IASB’s projects: Business Combinations – Disclosures, Goodwill and Impairment; and Climate-related and Other Uncertainties in the Financial Statements.
This podcast, hosted by committee Chair Bruce Mackenzie and member Lisa Bomba, shares discussions relating to two agenda decisions: (1) Guarantees Issued on Obligations of Other Entities, and (2) Recognition of Intangible Assets Resulting from Climate-related Expenditure (IAS 38).
Marked-up IFRS For SMEs Accounting Standard Available
The new resource presents the full text of the standard, with all changes in the third edition of the IFRS for SMEs Accounting Standard marked up to help stakeholders assess the effects of the changes and prepare for implementation.
April 2025 IASB Update And Addendum To The March 2025 IFRIC Update Available
The April IASB Update highlights preliminary decisions of IASB on various topics including Business Combinations – Disclosures, Goodwill and Impairment, and Climate-related and Other Uncertainties in the Financial Statements. The addendum to the March 2025 IFRIC Update has also been published.
May 2025 Agenda And Meeting Papers Available
At the EEG meeting held on 7 and 8 May 2025, the topics discussed include IASB Technical Update, Fourth Agenda Consultation, Second Comprehensive Review of the IFRS for SMEs Accounting Standard, and Financial Instruments with Characteristics of Equity.
At the IASB meeting held from 19 to 22 May 2025, the topics discussed include Post-implementation Review of IFRS 16, Rate-regulated Activities, Business Combinations – Disclosures, Goodwill and Impairment, and Statement of Cash Flows and Related Matters.
The ASAF meeting was held on 28 May 2025 to discuss climate-related and other uncertainties in the financial statements.
ACRA Launches Body Of Knowledge To Guide Training Providers In Designing Programmes For Sustainability Reporting
The Accounting and Corporate Regulatory Authority (ACRA) has launched the Sustainability Reporting Body of Knowledge (SR BOK), coinciding with the International Sustainability Standards Board (ISSB) Preparer Readiness Training. The SR BOK provides a comprehensive framework of essential knowledge areas to guide training providers in developing quality programmes for professionals involved in sustainability reporting.
April 2025 ISSB Update And Podcast Available
In this ISSB Update and Podcast, ISSB Chair Emmanuel Faber and ISSB Vice-Chair Sue Lloyd shared on topics discussed at the ISSB meeting in April 2025, including the recently launched Roadmap Development Tool, key takeaways from the April ISSB meeting and upcoming consultations and events.
MAS Proposes To Streamline Prospectus Requirements And Broaden Investor Outreach Channels For IPOs
The Monetary Authority of Singapore (MAS) is seeking feedback on proposals to streamline prospectus requirements and broaden investor outreach channels for initial public offerings (IPOs). These proposals seek to smoothen the listing process for issuers and widen options to reach out to potential investors.
SGX RegCo Consultation Paper On A Shift To A More Disclosure-Based Regime
In line with an approach that adopts a pro-enterprise stance alongside measures to strengthen investor confidence, Singapore Exchange Regulation (SGX RegCo) is proposing regulatory changes towards a more disclosure-based regime. This is one part of the recommendations announced by the Equities Market Review Group in February 2025.
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