Benefits of Adoption of Charities Accounting Standard (CAS)

Charities Accounting Standard (CAS) was introduced by the Singapore Accounting Standards Council on 24 June 2011 tailored to simplify the compliance for small charities, societies and companies limited by guarantee. It is straightforward and minimises financial information disclosures that are relevant to your organisation while increases transparency and accountability in financial reporting to the donating public and other stakeholders. By and large, the adoption of CAS will be mostly ‘one-off’ changes to your accounting systems and implementation of CAS would have…