This publication illustrates best practices for financial statement disclosures that comply with the Singapore Companies Act, Singapore Financial Reporting Standards (International) [SFRS(I)] and Singapore Exchange Limited Listing Manual for companies with financial years ending 31 December 2022.

Major changes since SIFS 2021 include disclosure examples for:

  • a demand deposit in response to the IFRS Interpretations Committee's Agenda Decision Demand Deposits with Restrictions on Use arising from a Contract with a Third Party
  • a possible way to explain the potential impact of a new global minimum tax, which could affect entities’ disclosures in 2022 annual reports;
  • the initial adoption of the amendments to SFRS(I) for onerous contract provisions in the appendices; and
  • additional illustrative disclosures relating to climate change in financial reporting in the appendices.

While care has been taken in the preparation of this publication, reference to accounting standards and other authoritative material should be made, and specific advice sought, in respect of any particular transaction or specific circumstances. No responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this publication can be accepted by KPMG LLP in Singapore or any member of KPMG International.


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