The Institute of Singapore Chartered Accountants (ISCA) has set up a new taskforce to strengthen Singapore’s financial reporting and improve investor confidence.
The Strengthening Financial Reporting Taskforce was introduced at the ISCA Value Unlock Forum, organised with Singapore Exchange
In a statement, the ISCA said the taskforce will be chaired by Singapore Institute of Management Group chairman Euleen Goh. The group includes leaders from business, financial institutions, academia, professional services and investor circles. The taskforce will explore how companies can better convey financial results, key risks and long-term value creation to their audiences.
It will also look at how Singapore can retain high standards of governance, transparency and accountability as business conditions evolve. Goh said: “Financial reporting has always been the language of business. As markets evolve, it must speak more clearly and more usefully to the stakeholders who rely on it. “The taskforce will take a practical and holistic look at how Singapore can raise the bar so that companies communicate value and insights with the confidence and clarity that investors and the market expect.” The ISCA said the initiative comes as Singapore continues to reinforce its capital markets and business ecosystem.