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Thursday 23 October 2014

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Singapore and New Zealand profiles updated

 16 June 2014


We have updated the profile on use of IFRS in Singapore to reflect the 29 May 2014 joint announcement by the Accounting Standards Committee and the Singapore Stock Exchange that Singapore-incorporated companies listed on the SGX will apply a new financial reporting framework identical to IFRS starting in 2018.  The current differences between Singapore Financial Reporting Standards and IFRS will be eliminated.  We have also updated the New Zealand profile to reflect a reduction from four to two in the number of tiers of reporting standards for for-profit entities.  All publicly accountable entities are in Tier 1 and, therefore, must use NZ-IFRS, which are identical to IFRS as issued by the IASB with the addition of three New Zealand-specific standards.

Currently, profiles are available for 130 jurisdictions. View the jurisdiction profiles.

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