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EMBRACING REPORTING AND
CLIMATE CHANGE CHALLENGES

29 AUGUST 2024(THURS) | 9AM-1PM

LEVEL 3 , BRAS BASAH ROOM | INTERCONTINENTAL SINGAPORE

Climate Change and Sustainability Reporting Developments

Partner, Advisory & ESG

Climate change has brought about not just physical risks such as rising sea levels and extreme weather patterns, but has also affected the way businesses operate. To survive in this new environment, companies need to decarbonise and pivot towards more sustainable businesses practices.

 

On 26 June 2023, the International Sustainability Standards Board (ISSB) issued IFRS S1 and IFRS S2 on sustainability-related disclosures. The Standards create a common language for disclosing the effect of climate-related risks and opportunities on a company’s prospects.

 

In February 2024, the recommendations on mandatory reporting of ISSB-aligned climate-related disclosures were accepted by ACRA and SGX RegCo in their response to the public consultation on the Sustainability Reporting Advisory Committee’s recommendations.

 

Understand how climate change is shaping the sustainability reporting landscape in Singapore.

TOPICS

80 MIDDLE ROAD, SINGAPORE 188966

programme

Navigating SFRS(I) 13 Fair Value Measurement - Insights into Valuation Approaches and Best Practice 

Director, Corporate Finance

Prepare to navigate the labyrinth of valuation intricacies, especially for complying with SFRS(I) 13 Fair Value Measurement, as we delve into an array of valuation methods, with a keen focus on the discounted cash flow method.

 

Explore the complex terrain of valuation techniques, unravelling intricacies, and illuminating best practices while steering clear of common pitfalls. Gain essential insights into valuation techniques, identifying what works best, and avoiding mistakes crucial for navigating the challenges of financial reporting.

Tax Updates

Director, Tax
Director, Tax

Enterprise Innovation Scheme (“EIS”) was introduced to encourage businesses to engage in R&D, innovation and capability development activities which includes training. Business can claim the enhanced tax deduction with effect from the financial year 2023.

 

To address international tax avoidance risks relating to non-taxation of disposal gains in the absence of real economic activities, Singapore has amended its foreign-sourced income regime to subject gains from the disposal of foreign assets to tax under certain circumstances with effect from 1 January 2024.

 

Understand how EIS will help you to reduce your business cost, what will be the tax impact of the amended foreign-sourced income regime and how this will affect your business plan.

Classification of Liabilities as Current or Non-current and non-current
Liabilities with Covenants - Amendment to SRFS(I) 1-1 and FRS 1

Partner , Professianal Standards & Assurance 

If an entity’s right to defer settlement of a liability is subject to complying with the required covenants only at a date subsequent to the reporting period, the entity has a right to defer settlement even if it does not comply with those covenants at the end of the reporting period. The requirement for the right to exist at the end of the reporting period applies to covenants which the entity is required to comply with on or before the reporting date regardless of whether the lender tests for compliance at that date or at a later date. The classification of a liability is unaffected by the likelihood that the entity will exercise its right to defer settlement of the liability for at least twelve months after the reporting period. An entity is required to provide disclosure when a liability arising from a loan agreement is classified as non-current and the entity’s right to defer settlement is contingent on compliance with future covenants within twelve months after the reporting period. Entities will need to carefully consider the impact of these amendments on existing and planned loan arrangements. In this context, it is important to be aware that the amendments must be applied retrospectively. 

Gain knowledge of the amendments and their implications for practice.

ADMIN MATTERS

CPD Hours:

3.5 hours

Registration Closing Date:

26 August 2024, Monday

or when seats are filled

Fee

(excluding GST):
Clients: SGD100 | Non-Client: SGD150

If you have any queries, please write to us at events@fookontan.com

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