Regulatory tracker · SSO ·
VCCs permitted to report under IFRS and US GAAP
By VCCGuide Editorial
Reviewed by the fund management team at JCube Capital Partners (JCP), a Monetary Authority of Singapore capital markets services licence holder (Licence No. CMS100895).
What changed?
The Variable Capital Companies (Prescribed Accounting Standards) Regulations 2020 came into operation on 16 March 2020, formally permitting VCCs to prepare financial statements under prescribed international standards — IFRS and US GAAP — rather than only Singapore accounting standards.
Why it matters for fund managers
For managers courting international investors, this closed a practical gap: a Singapore-domiciled VCC can report in the accounting framework its global investor base already expects, avoiding parallel bookkeeping or reconciliation exercises that would otherwise erode the VCC's cost advantage.