Extent of IFRS application Status Additional Information
IFRS Standards are required for domestic public companies tick Listed companies in Singapore are required to use Singapore Financial Reporting Standards (SFRS), which are substantially converged with IFRS Standards. However, with permission of the securities regulator, listed companies may use IFRS Standards as issued by the Board.
IFRS Standards are permitted but not required for domestic public companies
IFRS Standards are required or permitted for listings by foreign companies tick All foreign companies listed on the Singapore Exchange are permitted to apply IFRS Standards under the Listing Rules. Specifically, foreign companies whose equity securities have a primary listing in Singapore are required to apply SFRS, IFRS Standards, or US GAAP, while those with a secondary listing are required only to reconcile their financial statements to SFRS, IFRS Standards or US GAAP.
The IFRS for SMEs Standard is required or permitted tick Permitted.
The IFRS for SMEs Standard is under consideration
Last updated:
16 June 2016
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