Section 2

an accounting standard made or formulated by the Council under Part 3; or

an accounting standard for statutory bodies established by the Accountant-General under Part 4;“Chairperson” means the Chairperson of the Council appointed under section 4(1)(a), and includes any temporary Chairperson of the Council if so appointed;“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;“Council” means the Accounting Standards Council established under section 3;“making or formulating”, in relation to any accounting standard, includes amending and revoking the accounting standard;“member”, in relation to the Council, means a member of the Council and includes the Chairperson of the Council;“Minister” means the Minister charged with the responsibility for finance;“statutory body” means a body —

established or constituted by or under a public Act;

that has a public function; and

whose annual report and audited financial statements are required by written law to be presented to Parliament.