Unquoted equity investments can take various forms and possess unique characteristics and risks to financial reporting. These investments are typically not quoted in an active market and involve ownership interest in private companies whose shares are not publicly traded, as well as in private equity funds. Due to the general lack of observable market data or information relevant to the valuation of these investments, auditing the valuation of such investments can involve professional judgement and present significant challenges.
To support auditors in this area, ISCA has developed AB 8, which highlights key considerations when designing and performing procedures over the valuation of unquoted equity investments measured at fair value.
ACRA Issues Audit Practice Guidance For Technology-Driven Audits
The Audit Practice Guidance, titled “Delivering Quality Audits in a Technology-Driven Environment”, highlights key considerations in the risk assessment and monitoring processes for accounting entities to strengthen their systems of quality management and uphold audit quality in today’s digital age.
ACRA Enhances Audit Quality Indicators Framework
As the auditing landscape evolves, ACRA conducted a comprehensive review of its AQI Disclosure Framework (Framework) in 2025, enhancing the Framework with three new indicators and updating an existing indicator to address emerging risks and evolving stakeholder expectations.
IAASB Issues Narrow-Scope Amendments Related To IESBA’s Using The Work Of Experts
These amendments respond to IESBA’s recently approved revisions to its International Code of Ethics for Professional Accountants (including International Independence Standards), which introduced, among other provisions, explicit ethical requirements for using the work of external experts in audit, assurance and non-assurance engagements. These updates help to maintain interoperability between the IAASB standards and IESBA Code.
ISCA will undertake the due process to adopt the amendments in Singapore.
IESBA Launches Firm Culture And Governance Viewpoints As It Begins Asia Outreach
IESBA has launched its Firm Culture and Governance Viewpoints, initiating a six-month global dialogue on the drivers of ethical culture in accounting firms. The Viewpoints highlight eight key elements shaping ethical culture and will inform the possible development of a future global baseline on firm culture and governance. The launch coincides with IESBA’s Asia outreach to Singapore, Malaysia and Hong Kong SAR, reflecting Asia’s central role in the adoption and implementation of international ethics standards.
ISCA To Publish Exposure Draft FRG 6 RAP 7 To SFRS(I) Implementation Roadmap
ISCA expects to publish Exposure Draft FRG 6 RAP 7 to SFRS(I) Implementation Roadmap on 2 February 2026.
The document will be available for download from Public Consultation for Financial Reporting Guidances (FRGs).
While ISCA strives to provide accurate dates in our alerts about forthcoming publications, circumstances may lead to changes in these publication dates.
ASC Issues Amendments To Illustrative Examples On Disclosures About Uncertainties In Financial Statements
The Accounting Standards Committee (ASC) has issued the Amendments to Illustrative Examples on SFRS(I) 7, SFRS(I) 18, SFRS(I) 1-1, SFRS(I) 1-8, SFRS(I) 1-36 and SFRS(I) 1-37: Disclosures about Uncertainties in the Financial Statements and Amendments to Illustrative Examples on FRS 107, FRS 118, FRS 1, FRS 8, FRS 36 and FRS 37: Disclosures about Uncertainties in the Financial Statements.
IFRS Foundation Releases Full Set Of Educational Resources For IFRS For SMEs Accounting Standard
The IFRS Foundation has released new educational materials to support learning and implementation of the third edition of the IFRS for SMEs Accounting Standard. These resources include 11 modules, five webcasts and three podcast episodes.
November 2025 IFRIC Update Available
This Update is a summary of the decisions by IFRIC. The discussion topics include tentative agenda decisions on (i) how an entity applies IFRS 18 to classify any gain or loss on a derivative financial instrument in its consolidated statement of profit or loss, (ii) application of IAS 1 in relation to fair presentation and compliance with IFRSs, (iii) application of IFRS 18 in determining main business activity, and (iv) presentation of taxes or other charges that are not income taxes within scope of IAS 12, and agenda decisions relating to embedded prepayment option (IFRS 9), and determining and accounting for transaction costs (IFRS 9).
December 2025 IASB Update And Podcast Available
In this Update and Podcast, IASB Chair Andreas Barckow and IASB Vice-Chair Linda Mezon-Hutter discussed highlights from the IASB meeting in December 2025, which include amendments to the fair value option in IAS 28 and redeliberating the proposals in the Exposure Draft Provisions – Targeted Improvements relating to the recognition and measurement of provisions.
December 2025 IFRS For SMEs Accounting Standard Update
This edition of Update includes an overview of Section 19 Business Combinations and Goodwill in the third edition of the Standard, and resources published to support implementation of the Standard.
Q4 2025 IFRIC Podcast Available
This Podcast, hosted by Committee Chair Bruce Mackenzie and Committee member Sophie Massol, shares discussions on four tentative agenda decisions related to IFRS 18 and provides updates to 10 agenda decisions to reflect new or amended requirements in IFRS 18.
December 2025 IFRS Taxonomy Consultative Group (ITCG) Agenda And Meeting Papers Available
The ITCG meeting on 15 December 2025 discussed updates on digital financial reporting activities.
ISSB Issues Targeted Amendments To IFRS S2 To Support Implementation
ISSB has issued targeted amendments to IFRS S2 to address implementation challenges and provide clearer guidance on GHG emissions disclosures. Based on stakeholder feedback, the changes provide reliefs while maintaining high-quality investor-focused information. The amendments take effect for reporting periods beginning on or after 1 January 2027, with early adoption allowed, and include updates to align financed-emissions metrics in select SASB Standards.
December 2025 ISSB Update And Podcast Available
In this Update and Podcast, ISSB Chair Emmanuel Faber and ISSB Vice-Chair Sue Lloyd shared on topics discussed at the ISSB meeting in December 2025, which include progress in the global adoption of ISSB Standards, how ISSB is providing implementation support, and progress to build the global baseline.
Q1 2026 ISSB Implementation Insights Podcast Available
This Podcast, hosted by the ISSB Vice-Chair Sue Lloyd and ISSB Technical Staff Greg Bartholomew and Sara Macferran, shares discussions on proportionality mechanisms in the ISSB Standards factsheet and webcast series, and other ISSB materials.
