The Singapore Exchange Regulation (SGX RegCo) and the Accounting and Corporate Regulatory Authority (ACRA) has emphasised the importance of high-quality financial statements that reflects issuers’ current financial positions to investors amid the Covid-19 pandemic.
On July 27, SGX RegCo published a regulator’s column that highlights areas where issuers should take note of when preparing their interim financial statements.
Areas issuers should take note of, according to SGX RegCo, include asset valuations and ongoing concern assessments.
The column offers practical advice on navigating these areas, as well as recommending key disclosures that would help investors make key informed investing decisions.
Issuers looking for more guidance can refer to ACRA’s financial reporting practice guidance on proposed areas of review focus by directors issued on May 22, that seeks to highlight warning signs of possible non-compliance with accounting standards.
Shares in SGX closed 4 cents lower, or 0.5% down, at $8.32, on Friday.
