Illustrative Annual Report 2019

A comprehensive guide to drafting your annual report

Building transparency, establishing trust

2019 continues to be a year of change with the revised Code of Corporate Governance (“the Revised Code”) and new lease accounting standard – SFRS(I) 16 Leases, which were both effective on 1 January 2019.

These changes aim to build transparency in the annual report and help organisations to succeed by establishing trust through transparency. We recognise the importance of relevant and reliable information, and we are confident of managing these changes with you.

What's new?

1 January 2019

SFRS(I) 16/FRS 116 Leases is effective on 1 January 2019 and will result in almost all leases being recognised on the balance sheet. Under this new standard, additional disclosures allow the users to better understand the companies’ leasing activities.

The new disclosure requirements under SFRS(I) 16/FRS 116 have been incorporated in this publication.

1 January 2019

The revised Code of Corporate Governance is applicable to all listed companies in Singapore effective 1 January 2019. The revised Code has been streamlined, and clarifies the expectations of the comply-or-explain regime relating to listed companies’ corporate governance disclosures.

This publication takes all these into account, incorporating the updates into this report.

The 2019 edition of PwC’s Illustrative Annual Report entitled “Building transparency, establishing trust” is developed with the aim to assist company directors, audit committee members, management and preparers of financial statements to better understand and implement the new financial reporting standards and revised corporate governance code to produce robust, relevant and reliable financial reporting for informed decision-making.


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Contact us

Marcus Lam

Assurance Leader, PwC Singapore

Tel: +65 6236 3678

Kok Moi Lre

Partner, Accounting Technical Leader, PwC Singapore

Tel: +65 8182 3178

Yong Zen Yun

Partner, PwC Singapore

Tel: +65 8129 1780

Chen Voon Hoe

Partner, Risk Assurance, PwC Singapore

Tel: +65 9817 0978

Ng Siew Quan

Partner, PwC Singapore

Tel: +65 9726 9880

Fang Eu Lin

Partner, Risk Assurance, PwC Singapore

Tel: +65 9817 8213

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