-
Accounting Advisory
Our accounting advisory team help businesses meet their complex financial reporting requirements. The team can support in applying new financial reporting standards, IFRS/ US GAAP conversions, financial statement preparation, consolidation and more.
-
Payroll
Our team can handle your payroll processing needs to help you reduce cost and saves time so that you can focus on your core competencies
-
Managed accounting and bookkeeping
Outsourcing the financial reporting function is a growing trend among middle market and startup companies, as it provides a cost-effective way to improve the finance and accounting function. Our team can help with financial statement preparation, consolidation and technical on-call advisory.
-
Accounting Advisory
Our team helps companies keep up with changes to international and domestic financial reporting standards so that they have the right accounting policies and operating models to prevent unexpected surprises.
-
Crypto Accounting Advisory Service
Our team can help you explore appropriate accounting treatment for accounting for holdings in cryptocurrencies, issuance of cryptocurrencies and other crypto/blockchain related accounting issues.
-
ESG Reporting and Accounting
As part of our ESG and Sustainability Services, our team will work with you on various aspects of ESG accounting and ESG reporting so that your business can be pursue a sustainable future.
-
Expected Credit Loss
Our team of ECL modelling specialists combine help clients implement provisioning methodology and processes which are right for them.
-
Managed Accounting and Bookkeeping Services
Outsourcing the financial reporting function is a growing trend among middle market and startup companies, as it provides a cost-effective way to improve the finance and accounting function. Our team can help with financial statement preparation, consolidation and technical on-call advisory.
-
Business Tax Advisory
Our business tax team can help you navigate the international tax landscape, grow through mergers and acquisitions, or plan an exit strategy.
-
Corporate Finance
Our corporate finance team helps companies with capital raising, mergers and acquisitions, private equity, strategic joint ventures, special situations and more.
-
Financial Due Diligence
From exploring the strategic options available to businesses and shareholders through to advising and project managing the chosen solution, our team provide a truly integrated offering
-
Valuations
Our valuation specialists blend technical expertise with a pragmatic outlook to deliver support in financial reporting, transactions, restructuring, and disputes.
![Reducing risk in cross-border transactions](/globalassets/1.-member-firms/singapore/blocks/new-illistrations/resized/resize---performance.jpg)
-
Sustainability with the ARC framework
Backed by the CTC Grant, businesses can tap on the ARC Framework to gain access to sustainability internally, transform business processes, redefine job roles for workers, and enhance productivity. Companies can leverage this grant to drive workforce and enterprise transformation.
![Navigating the Carbon Border Adjustment Mechanism (CBAM) and its impacts on global trade](/globalassets/1.-member-firms/singapore/photography/464x422-listing-article/factory-gas_listing-min.jpeg)
-
Business Tax Advisory
Our business tax team can help you navigate the international tax landscape, grow through mergers and acquisitions, or plan an exit strategy.
-
Corporate Tax Compliance
Our corporate tax teams prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and realise tax benefits.
-
Tax Governance
Our Tax Governance Services are designed to assist organisations in establishing effective tax governance practices, enabling them to navigate the intricate tax environment with confidence.
-
Goods and Services Tax
Our GST team supports organisations throughout the entire business life-cycle. We can help with GST registration, compliance, risk management, scheme renewals, transaction advisory and more.
-
Transfer Pricing
Our Transfer Pricing team advises clients on their transfer pricing matters on and end-to-end basis right from the designing of policies, to assistance with annual compliance and assistance with defense against the claims of competing tax authorities.
-
Employer Solutions
Our Employer Solutions team helps businesses remain compliant in Singapore as well as globally as a result of their employees' movements. From running local payroll, to implementing a global equity reward scheme or even advising on the structure of employees’ cross-border travel.
-
Private Client Services
Our private client services team provides a comprehensive cross section of advisory services to high net worth individuals and corporate executives, allowing such individuals to concentrate on their business interests.
-
Welfare and benefits
We believe that a thriving team is one where each individual feels valued, fulfilled, and empowered to achieve their best. Our welfare and benefits aim to care for your wellbeing both professionally and personally.
-
Career development
We want to help our people learn and grow in the right direction. We seek to provide each individual with the right opportunities and support to enable them to achieve their best.
The Final Rules, that were proposed two years earlier in March 2022, generated a huge response. Over 4,500 unique comment letters and 18,000 form letters were submitted to influence and support ‘The Enhancement and Standardisation of Climate-Related Disclosures for Investors’.
The SEC’s efforts to issue these new rules are the result of investor demands for consistent, reliable, and comparable information regarding climate-related risks. More specifically, these Final Rules set out the information needed to help investors assess how climate risks affect a registrant’s business and financial condition, and assess the registrant’s management and board oversight of its climate-related risks.
What distinguishes the SEC requirements from those issued by other sustainability standard setters, most notably the IFRS Sustainability Disclosure Standards (IFRS SDS) issued by the International Sustainability Standards Board (ISSB) and the European Sustainability Reporting Standards (ESRS) as required by the Corporate Sustainability Reporting Directive (CSRD) in the European Union, is that there is no requirement to disclose Greenhouse Gas (GHG) Scope 3 emissions.
Summary of new requirements
The Final Rules set out in a new subpart 1500 of Regulation S-K and Article 14 of Regulation S-X require reporting entities to make robust climate-related disclosures, which include details of:
- Climate-related risks reasonably likely to materially impact the registrant’s business strategy, results of operations or financial condition
- Actual and potential material impacts of identified climate-related risks on strategy, business model and outlook
- Quantitative and qualitative description of material expenses incurred and material impacts on financial estimates and assumptions that directly result from mitigation or adaptation activities
- Specific activities to mitigate or adapt to a material climate-related risk, including the use of transition plans, scenario analysis, or internal carbon prices
- Oversight by the board of directors of climate-related risks and role of management in assessing and managing the registrant’s material climate-related risks
- Processes for identifying, assessing, and managing material climate-related risks and whether and how these are integrated into the overall risk management system or processes
- Information about climate-related targets or goals that have materially affected or are reasonably likely to materially affect the registrant’s business, results of operations, or financial condition
- Information about material Scope 1 emissions and Scope 2 emissions. (This is specific to large accelerated filers (LAFs) and accelerated filers (AFs) that are not otherwise exempted)
- Capitalised costs, expenses incurred, charges and losses incurred as a result of severe weather events and other natural conditions, subject to applicable one percent and de minimis disclosure thresholds
- Capitalised costs, expenses incurred, and losses in relation to carbon offsets and renewable energy credits or certificates (RECs) if used as a material component of plans to achieve disclosed climate-related targets or goals, and
- A qualitative description of how the development of estimates and assumptions are impacted if estimates and assumptions used to produce financial statements were materially impacted by risks and uncertainties associated with severe weather events and other natural conditions or any disclosed climate-related targets or transition plans.
If required to disclose Scope 1 and Scope 2 emissions, reporting entities are required to obtain an assurance report at the limited assurance level which, after an additional transition period, will move to being reasonable assurance for an LAF.
Comparison to ISSB Standards and ESRS Standards
Although the new rules require climate-related disclosures, there are significant differences between the Final Rules and the IFRS SDS and the ESRS in several main areas. Below is a snapshot of some of these differences:
Scope and effective date
These new rules apply to all SEC registrants. The SEC has implemented a phased-in approach for complying with the new rules based on registration filing status.
In addition to the phased-in approach by filing status, the SEC has also implemented a phased-in approach for certain more complex requirements in deference to the additional time needed for registrants to comply.
- Item 1502(d) requires a registrant to provide a narrative discussion of whether and how any climate-related risks described have affected or are reasonably likely to affect the registrant’s consolidated financial statements
- Item 1502(e) requires a registrant to describe a transition plan if it has adopted the plan to manage a material transition risk, and
- Item 1504(c) requires a registrant to disclose any progress toward meeting a target or goal and how such progress has been achieved.
These three items, as well as the assurance requirements, will come into effect at the specified later dates.
This table illustrates the compliance dates required for each type of filer and requirement, with the date indicating that compliance is required in the financial year beginning in the calendar year listed.
Next steps for SEC registrants
Reporting entities in scope of the Final Rules should start getting ready to comply as soon as possible. These rules will require the collection of data that entities may not yet be able to collect due to system or process restrictions and involve topics that many entities may not yet have expertise in. Due to these complexities, it may take longer than anticipated to prepare the required disclosures and prompt action should enable registrants to comply in a timely manner as the deadlines set are demanding.