Task Force & Working Group

Task Force

An Industry Task Force is formed for industries which are critically affected by the MASB Approved Accounting Standards for Entities Other than Private Entities.

Currently, FRSIC has formed an Industry Task Force for the following industries:

  1. Financial Services
  2. Property Development

The Industry Task Force is governed by these Terms of Reference.

Working Group

A Working Group (WG) will be formed when an issue is accepted by FRSIC for issuance of consensus.

Each Working Group comprises of practitioners and industry players, and regulators where applicable, relevant to the issue being undertaken. FRSIC will appoint a Project Manager who needs to be a qualified person in the technicalities of the financial reporting, to lead the respective Working Group.

The duties of the Working Group are to discuss the issue in detail, reach a consensus on the core principles of the issue, and draft consensus for FRSIC's deliberation and consideration.

The Working Groups are governed by these Terms of Reference.