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SGX reminds investors of new consolidation rule

A NEW financial reporting standard (FRS) affecting the consolidation of financial statements will become effective for annual periods beginning on or after Jan 1, 2014, the Singapore Exchange (SGX) reminded investors yesterday.

As permission is required for reproduction, here is the link: http://www.singaporelawwatch.sg/slw/head...medium=rss

What's the changes? The present IAS27 already emphasised the importance of "control" when determine which entities to be part of consolidation. I don't expect the new FRS110 will resulting in a lots of restatements among the SGX listed, if they have followed IAS27 correctly.

(23-10-2013, 02:53 PM)TheMillennium Wrote: [ -> ]SGX reminds investors of new consolidation rule

A NEW financial reporting standard (FRS) affecting the consolidation of financial statements will become effective for annual periods beginning on or after Jan 1, 2014, the Singapore Exchange (SGX) reminded investors yesterday.

As permission is required for reproduction, here is the link: http://www.singaporelawwatch.sg/slw/head...medium=rss

This is part of the migration to new FRS, started from 2012, and will end by 2015.

The various amendments are documented by PwC, link below

http://www.pwc.com/sg/en/illustrative-an...e_2012.pdf

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