Singapore Financial Reporting Standards (International)
Changes effective for annual periods beginning after 1 January 2022
Singapore Financial Reporting Standards (International) (SFRS(I)s) refer to Singapore Financial Reporting Standards (International) and SFRS(I) Interpretations issued by the ASC.
SFRS(I)s issued by the ASC are published for your own personal non-commercial use only, subject to the Terms & Conditions of Use of this Web Site. As SFRS(I)s are based on IFRS Standards and the copyright to IFRS Standards is owned by the IFRS Foundation, permission to use SFRS(I)s for any other purpose is required from the ASC and the IFRS Foundation with regard to SFRS(I)s and IFRS Standards, respectively.
The following are the new/revised/amendments to SFRS(I)s issued by the ASC up to 31 December 2022 which are effective for annual reporting periods beginning after 1 January 2022.
Singapore Financial Reporting Standards (International)
Reference |
Title |
Effective Date |
Issuance Date |
Issued in 2017 |
SFRS(I) 10, SFRS(I) 1-28
|
Amendments to SFRS(I) 10 and SFRS(I) 1-28: Sale or
Contribution of Assets between an Investor and its Associate or Joint Venture (PDF, 138KB)
|
To be determined |
29 Dec 2017 |
Issued in 2018 |
SFRS(I) 17
|
Insurance Contracts (PDF, 779KB)
Illustrative Examples (PDF, 1012KB)
|
1 Jan 20231 |
29 Mar 2018 |
Issued in 2020 |
SFRS(I) 1-1
|
Amendments to SFRS(I) 1-1: Classification of Liabilities as Current or Non-current (PDF, 146KB)
|
1 Jan 20242 |
29 May 2020 |
SFRS(I) 1-1
|
Amendment to SFRS(I) 1-1: Classification of Liabilities as Current or Non-current—Deferral of Effective Date (PDF, 91KB)
|
- |
23 Jul 2020 |
Various |
Amendments to SFRS(I) 17 (PDF, 879KB)
|
1 Jan 2023 |
27 Nov 2020 |
Issued in 2021 |
Various |
Amendments to SFRS(I) 1-1 and SFRS(I) Practice Statement 2: Disclosure of Accounting Policies (PDF, 250KB)
|
1 Jan 2023 |
7 Jun 2021 |
SFRS(I) 1-8
|
Amendments to SFRS(I) 1-8: Definition of Accounting Estimates (PDF, 163KB)
|
1 Jan 2023 |
7 Jun 2021 |
SFRS(I) 1-12, SFRS(I) 1
|
Amendments to SFRS(I) 1-12: Deferred Tax related to Assets and Liabilities arising from a Single Transaction (PDF, 166KB)
|
1 Jan 2023 |
15 Sep 2021 |
SFRS(I) 17
|
Amendment to SFRS(I) 17: Initial Application of SFRS(I) 17 and SFRS(I) 9—Comparative Information (PDF, 136KB)
|
Refer to document |
14 Dec 2021 |
Issued in 2022 |
SFRS(I) 16
|
Amendments to SFRS(I) 16: Lease Liability in a Sale and Leaseback
|
1 Jan 2024 |
14 Dec 2022 |
Various
|
Amendments to SFRS(I) 1-1: Non-current Liabilities with Covenants
|
1 Jan 2024 |
14 Dec 2022 |
1The mandatory effective date of this Standard had been revised from 1 Jan 2021 to 1 Jan 2023 by the ASC in Nov 2020 via Amendments to SFRS(I) 17.
2The mandatory effective date of this Amendment had been revised from 1 Jan 2022 to 1 Jan 2023 by the ASC in Jul 2020 via Amendment to SFRS(I) 1-1: Classification of Liabilities as Current or Non-current—Deferral of Effective Date and further revised to 1 Jan 2024 in Dec 2022 via Amendments to SFRS(I) 1-1: Non-current Liabilities with Covenants.
Other accompanying documents
The SFRS(I)s should be read in the context of the Basis for Conclusions on IFRS Standards issued by the IASB. The Basis for Conclusions summarises the IASB's considerations in developing IFRS Standards. The use of the Basis for Conclusions is subject to the IFRS Foundation's Terms and Conditions (PDF, 171KB) as if they are materials on the IFRS Foundation's website.