Reporting Intangible Assets for Business Growth
Intangible assets (IA), including IP, are critical drivers of economic and business value. Singapore is committed to developing as a hub for IA/IP transactions and commercialisation. Credible, trusted IA/IP valuation will be a core enabler, together with a conducive ecosystem for IA/IP disclosure and reporting.
Data, brands, technologies and know-how are just some of the world’s intangible assets (IA), which are valued at over US$65 trillion and increasingly value drivers in our digital economy. Yet, a large part of the value of these IA remains undisclosed and is estimated to represent more than 30% of global enterprise value. Might the accounting rules that determine which IA are reported in a company’s financial statements be due for a reform?
Internationally, financial reporting associations like the European Financial Reporting Advisory Group (EFRAG) are studying the need for better reporting of IA. What steps can Singapore take to better support IA/IP-rich businesses in reporting and communicating their IA for business growth and capital raising? Join this webinar to discuss with industry experts, regulators and business owners.
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The Solution
An intangible assets audit allowed REVEZ Corp. to focus on its domain expertise and sharpen its positioning in the market as a technology innovator. The company has also put policies in place to safeguard proprietary software, algorithms and turnkey solutions to increase competitive advantage and secure business opportunities.
Recommendations such as disclosing its intangible assets using an international intangibles reporting framework also allowed REVEZ Corp. to strategically communicate the value of its reputation, expertise and intellectual property.