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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.
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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
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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.
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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.
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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.
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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.
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Expected Credit Loss
Our team of ECL modelling specialists combine help clients implement provisioning methodology and processes which are right for them.
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Finance Transformation
Our Finance Transformation services are designed to challenge the status quo and enable your finance team to play a more strategic role in the organisation.
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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.
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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.
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Corporate Finance
Our corporate finance team helps companies with capital raising, mergers and acquisitions, private equity, strategic joint ventures, special situations and more.
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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
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Valuations
Our valuation specialists blend technical expertise with a pragmatic outlook to deliver support in financial reporting, transactions, restructuring, and disputes.
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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.
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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.
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Corporate Tax Compliance
Our corporate tax teams prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and realise tax benefits.
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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.
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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.
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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.
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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.
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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.
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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.
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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 ISSB aims to establish through the issuance of these Standards a global baseline of sustainability-related financial disclosures. All the standards the ISSB will issue will aim to provide the right information, in the right way, to support investor decision-making and facilitate international comparability to attract capital.
To achieve this, the ISSB is working closely not only with jurisdictions but also with other global organisations such as the International Organisation of Securities Commissions (IOSCO) to gain support for the use of these Standards. In many jurisdictions it is highly probable that some additional disclosures will be added to the baseline requirements created by the ISSB. This process of taking the ISSB standards and then adding to them is often referred to as the building block approach.
The sustainability standards that have been released are:
- IFRS S1 ‘General Requirements for Disclosure of Sustainability-related Financial Information’
- IFRS S2 ‘Climate-related Disclosures’.
These Standards create a common language for disclosing sustainability risks and opportunities, initially focusing on climate related risks and opportunities, to achieve global comparability. Together these Standards will provide decision-useful, sustainability related information for investors. They fully incorporate and build on the recommendations from the Task Force on Climate-related Financial Disclosures (TCFD).
IFRS S1
IFRS S1 sets out the overall requirements for a reporting entity to disclose sustainability-related financial information about its sustainability-related risks and opportunities. This will enable reporting entities to communicate to investors about the sustainability-related risks and opportunities they face over the short, medium and long term.
IFRS S2
IFRS S2 sets out specific requirements for the identification, measurement and disclosure of climate-related financial information and is designed to be used in conjunction with IFRS S1.
Effective date
IFRS S1 and IFRS S2 are effective for annual reporting periods beginning on or after 1 January 2024. This means the first reporting will be seen in 2025 for reporting entities applying the Standards to their 31 December 2024 reporting cycles. Early adoption is permitted.
In order to claim compliance with IFRS Sustainability Disclosure Standards, reporting entities need to apply both Standards together. However, the ISSB has provided relief from some requirements in the first year the Standards are applied, which are detailed below.
Transitional provisions
IFRS S1 and IFRS S2 set out some transition reliefs that are applicable in the first year of application, including relief from the following requirements:
- reporting information about sustainability-related risks and opportunities beyond those relating to climate-related risks and opportunities
- reporting sustainability-related financial disclosures, including climate-related financial disclosures, at the same time as the related financial statements. This means a reporting entity will be permitted to report its sustainability-related financial disclosures after its financial statements, allowing for more time to collate and report on sustainability.
- disclosing Scope 3 greenhouse gas (GHG) emissions information and using the Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard (GHG Protocol Corporate Standard) to measure Scope 1, Scope 2 and Scope 3 GHG emissions if they are using a different approach, and
- disclosing any comparative information.
Next steps
Now that IFRS S1 and IFRS S2 have been issued, the ISSB has indicated it will work closely with jurisdictions and reporting entities throughout the adoption process. One of its first steps will be creating a Transition Implementation Group to support reporting entities that apply the Standards. In addition, the ISSB will be launching capacity-building initiatives to support the effective adoption and implementation of these two Standards.
The ISSB has indicated it will work closely with jurisdictions wanting incremental disclosures beyond the global baseline it has created to achieve greater interoperability of the Standards.
Our thoughts
We welcome the release of these Standards because they are the beginning of a new era in sustainability reporting. They provide a comprehensive global baseline of sustainability disclosures that should meet many of the information needs of investors.
We are pleased the ISSB will continue to work with jurisdictions and other international organisations to achieve a greater interoperability of the Standards, as we believe this is key to the success of sustainability reporting around the world.
Given that reporting on sustainability will either be new to many reporting entities, or potentially different from what they have previously reported, we encourage all entities that may be affected by these Standards, to start to consider the impact of them now.
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