Singapore legislation
Regulation 2
of Variable Capital Companies (Prescribed Accounting Standards) Regulations 2020
Regulation 2
Accounting standards applicable to variable capital companies
The following accounting standards or practices are prescribed for the purposes of section 100(8)(b) of the Act:
(a)
the International Financial Reporting Standards issued by the body known as the International Accounting Standards Board;
(b)
the United States Generally Accepted Accounting Principles issued by the Financial Accounting Standards Board;
(c)
the requirements relating to the preparation of accounts mentioned in chapter 5.1 of the Code on Collective Investment Schemes issued by the MAS under section 321(1) of the Securities and Futures Act (Cap. 289).