Short title
s 1
1. This Act is the Accounting Standards Act 2007.
Accounting Standards Act 2007 PART 1 — PRELIMINARY
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
Interpretation
s 2
2. In this Act, unless the context otherwise requires —“accounting standard” means —(a) an accounting standard made or formulated by the Committee under Part 3; or[Act 36 of 2022 wef 01/04/2023] (b) an accounting standard for statutory bodies established by the Accountant-General under Part 4; [Deleted by Act 36 of 2022 wef 01/04/2023] “Authority” means the Accounting and Corporate Regulatory Authority established under the Accounting and Corporate Regulatory Authority Act 2004;[Act 36 of 2022 wef 01/04/2023] “Chairperson” means the Chairperson of the Committee, and includes any temporary Chairperson of the Committee if so appointed;[Act 36 of 2022 wef 01/04/2023] “Committee” means the Accounting Standards Committee appointed under section 4(1);[Act 36 of 2022 wef 01/04/2023] “company” means any company incorporated under the Companies Act 1967 or any corresponding previous written law, and includes a foreign company registered under Division 2 of Part 11 of that Act in respect of its operations in Singapore; [Deleted by Act 36 of 2022 wef 01/04/2023] “making or formulating”, in relation to any accounting standard, includes amending and revoking the accounting standard; “member”, in relation to the Committee, means a member of the Committee and includes the Chairperson of the Committee;[Act 36 of 2022 wef 01/04/2023] “Minister” means the Minister charged with the responsibility for finance; “statutory body” means a body —(a) established or constituted by or under a public Act; (b) that has a public function; and (c) whose annual report and audited financial statements are required by written law to be presented to Parliament.
Back to Accounting Standards Act 2007 — full text
Provisions on this page are reproduced verbatim from official open data. See the attribution line.
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. Read the official text ↗
Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.
The Singapore legislation on this platform is subject to copyright of the Singapore Government and is used/reproduced for the purposes of this platform with the permission of the Attorney-General's Chambers. Users of this platform may check Singapore Statutes Online for the latest version of the Singapore legislation.
What to look at next
Accounting Standards Act 2007, full textChapter navigation and full text, so you can read this section in contextSingapore legislationSingapore Acts by type and yearGrouped by instrument type and year of enactment, so you can find others of the same kindBrowse by type and yearSingapore: what this database coversWhich datasets are here, which official source they come from, and how current they areSingapore overview