Two new Singapore Financial Reporting Standards (International) (SFRS(I)) apply to annual periods beginning on or after 1 January 2027.
SFRS(I) 18 Presentation and Disclosure in Financial Statements
- Replaces SFRS(I) 1-1 Presentation of Financial Statements.
- Introduces operating, investing and financing categories in the statement of profit or loss, with new required subtotals.
- Requires disclosure of management-defined performance measures.
- Comparative figures must be restated. Read our article on IFRS 18.
SFRS(I) 19 Subsidiaries without Public Accountability: Disclosures
- An optional standard allowing eligible subsidiaries to apply reduced disclosure requirements while keeping full recognition and measurement.
- Applies to subsidiaries without public accountability whose parent prepares publicly available consolidated financial statements under SFRS(I) or IFRS.
Action Points
- Start mapping income and expenses to the new SFRS(I) 18 categories
- Assess whether subsidiaries can benefit from SFRS(I) 19
Contact us for assistance with financial reporting and audit readiness.