Introduction
Intangible assets such as intellectual property and goodwill are
important sources of competitive advantage and economic value for
any business. However, companies may face challenges in the
valuation and reporting of intangible assets, particularly in this
digital economy. This is exacerbated by a lack of standardised
reporting principles.
To address this issue, the Accounting and Corporate Regulatory
Authority ("ACRA") and the Intellectual
Property Office of Singapore ("IPOS")
jointly issued a public consultation paper on 14 December 2022
proposing an Intangibles Disclosure Framework
("Framework") to help businesses
disclose and communicate their intangibles.
The Framework is an initiative under the Singapore IP Strategy
2030 ("SIPS 2030"), a 10-year blueprint
to strengthen Singapore's position as a global intangible
assets and intellectual property hub. One long-term goal of SIPS
2030 is to build a credible and trusted intangible asset
