Illustrative Annual Report 2017

A comprehensive guide to drafting your annual report

Future-ready with Trust and Transparency

The final quarter of 2017 and into 2018 look set to be an eventful time for the financial reporting landscape as we move closer to the implementation of two new and pertinent accounting standards: FRS 109 Financial Instruments and FRS 115 Revenue from Contracts with Customers that become effective in 2018. At the same time, companies with listed shares or debts on the Singapore Exchange (“SGX”) will also have to apply a new Singapore financial reporting framework from 1 January 2018 that is identical to the International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”).

No doubt, the only constant will be change. Managing changes to ensure accurate, reliable and robust financial reporting is vital to creating and sustaining trust and transparency in the marketplace. Such trust and transparency are key to the success of building your business.

The 2017 edition of PwC’s Illustrative Annual Report entitled “Future-ready with Trust and Transparency” has been developed with the aim to assist company directors, audit committee members, management and preparers of financial statements to better understand and implement the financial reporting standards and new financial reporting framework to produce robust and reliable financial reporting for informed decision-making.

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Marcus Lam
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Kok Moi Lre
Partner, Assurance
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Chen Voon Hoe
Partner, Risk Assurance
Tel: +65 6236 7488
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Yong Jiunn Siong
Partner, Risk Assurance
Tel: +65 6236 7238
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Fang Eu Lin
Partner, Risk Assurance
Tel: +65 6236 7798
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