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ISCA has provided feedback on the Board’s workplan from 2022 to 2026 for the prioritization of the projects, with due considerations given to Singapore and Asian markets. With an increased focus on climate change and sustainability in Singapore and worldwide, we recommend “Climate-related Risks” and “Pollutant Pricing Mechanisms” to be classified as high priority projects and they should be addressed together, considering that these two topics are intricately linked to each other.
In addition, we note the growing proportion of intangible assets that do not meet the existing recognition criteria under IFRS standards for companies in a digital economy. Hence, we propose the Board to prioritise “Intangible Assets” project by adopting a phased approach where the first step would be to require improved disclosures around intangibles.
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