Insights
Our team at Kreston Helmi Talib is always on the lookout for industry news, and updates that are relevant to our clients whilst we share our insights on how each can impact businesses. Stay tuned to our latest releases to keep abreast of solutions, recommendations, and fresh perspectives on pressing issues brought about by the changing business landscape, and global headwinds.
Singapore Budget 2025
Onward Together for a Better Future Tomorrow Budget 2025 is for all, with all Singaporeans as it works toward a better future tomorrow against global uncertainty and an increasingly competitive global landscape. Prime Minister Lawrence Wong, tackled vital key areas of focus and development during his speech that covered: Inflation and Living/Business…
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Protected: How to Choose Your Auditor: A Guide to Secure your Long-Term Success
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International Financial Reporting Standard (IFRS) 18, Presentation and Disclosure in Financial Statements
The International Accounting Standards Board (IASB) has published its new standard IFRS 18 ‘Presentation and Disclosures in Financial Statements’ that will replace IAS 1 ‘Presentation of Financial Statements. The new IFRS responds to investors demand for better information about companies financial performance and to improves transparency in the financial statements that will give the investors a…
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New Global Internal Audit Standards
The Institute of Internal Auditors (IIA) unveiled its updated Global Internal Audit Standards on 9 January 2024, offering a modernised and comprehensive framework designed to enhance internal audit functions and foster positive organisational change. Adopting these new standards allows organisations to adapt to the fast-paced evolution of business environments, technological innovations, and emerging risks.…
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Proposed International Standard on Sustainability Assurance (ISSA) 5000 – General Requirements for Sustainability Assurance Engagements
The proposed ISSA 5000 is designed to be a comprehensive and independent standard applicable to limited and reasonable sustainability assurance engagements. The proposal is more specific than ISAE 3000 (Revised) and ISAE 3410 for sustainability priority areas. It will cover sustainability information reported on various topics and prepared under multiple frameworks, including the IFRS Sustainability Disclosure Standards S1 and…
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International Financial Reporting Standards (IFRS) S1 and S2
The International Sustainability Standards Board (ISSB) has released the IFRS Sustainability Disclosure Standards, a global framework for consistent, comparable, and high-quality sustainability reporting. These standards, designed to meet investor needs, include IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures, which were issued on 26 June 2023 and become effective…
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Amendments to IAS 21 (Lack of Exchangeability)
The existing International Accounting Standards (IAS) 21, otherwise known as 'The Effects of Changes in Foreign Exchange Rates', provides guidelines and references for companies in using a spot exchange rate or rate for immediate delivery to report foreign currency transactions, present financial statements in a different currency, or translate a foreign operation.
As businesses expand and the world grows smaller, challenges start to arise, resulting to the need for the standard to evolve alongside the market demands.
Final GST Rate Change Effective 01 January 2024 - What does this mean for your Business?
Starting 01 January 2024, the second Goods and Services Tax (GST) rate increase will be in effect. One of our Tax Directors, Sharifah Nabihah Syed Mahmood has summarised a list of reminders, solutions, and preparations you can refer to for another seamless transition.
The Role of Generative AI in the Accounting Profession
With the rise of using humanoid Artificial Intelligence in the workplace, where do accountants find the balance between the benefits and doom it brings?
Why Outsourcing your Accounting Needs is the New Normal
Statutory compliance is getting stricter by the day. Along with the global economic decline, rapidly changing market demands and countless other challenges, keeping up with the standards and focusing on profit-generating areas of the business may not be an easy task.
This is where outsourcing your accounting needs to the experts may be a viable solution.
Step-by-step Guide in Incorporating to Singapore
Before maximising Singapore's rapid economic growth, the following requirements are note-worthy for a quick and continuous application process. You can prepare these by going through the list or you can assign a filing representative and expert agents who will complete the documents and processes on your behalf.
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