Improving Re-employment Opportunities for Older Workers

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Improving re-employment opportunities for older workers Retirement and Re-employment (Amendment) Bill 2016 and Revised Tripartite Guidelines on the Re-employment of Older Employees The Retirement and Re-employment (Amendment) Bill 2016 was passed by Parliament on 9 January 2017. In April 2016, MOM announced that following extensive tripartite consultations, the tripartite partners had agreed for the following…

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ASC publishes the 2017 Volume of FRSs and INT FRSs and the SFRS for Small Entities

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ASC publishes the 2017 volume of FRSs and INT FRSs and the SFRS for Small Entities The Accounting Standards Council (ASC) publishes the 2017 volume of Financial Reporting Standards (FRSs) and Interpretations of Financial Reporting Standards FRSs (INT FRSs) and the Singapore Financial Reporting Standard for Small Entities (SFRS for Small Entities)  that is applicable…

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Singapore: Taking Up Secondary Directorship for Employment Pass Holders

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Singapore: Taking Up Secondary Directorship for Employment Pass Holders The Ministry of Manpower (MOM) has announced new rules in place for companies appointing Employment Pass (EP) holders as directors. Eligible companies can appoint EP holders from another related company to their Board of Directors, but with an Letter of Consent (LOC) from the MOM. In…

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Government Accepts Recommendations to Enhance the Progressive Wage Model for Cleaning Sector

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Government Accepts Recommendations to Enhance the Progressive Wage Model for Cleaning Sector The Government has considered and accepted the recommendations contained in the report of the Tripartite Cluster for Cleaners (TCC) dated December 2016 on the enhancements to the Progressive Wage Model (PWM) for the cleaning sector, which was released today. The PWM enhancements will…

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Financial Reporting Practice Guidance No. 1 of 2016 – Areas of Review Focus for FY2016 Financial Statements

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Financial Reporting Practice Guidance No. 1 of 2016 – Areas of Review Focus for FY2016 Financial Statements ACRA issues Financial Reporting Practice Guidance No. 1 of 2016 on 8 December 2016. In 2016, weak market sentiments and continued slow-growth in the global environment have affected many Singapore companies. This Practice Guidance highlights seven financial reporting…

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