Listed below are ACRA’s various divisions and their functions.
Audit Division
The Audit Division assists the ACRA Board in fulfilling its responsibilities by performing independent and objective assessments of ACRA, and by providing value-added recommendations to enhance the control systems of ACRA’s operations.
The Audit Division also assists the ACRA Audit Committee to review ACRA’s activities to ascertain whether they are taken with due regard for economy, efficiency and effectiveness.
Business Facilitation Division
The Business Facilitation Division oversees the registration of business entities in Singapore which includes business firms, local companies, foreign branches and limited liability partnerships and the filing of prescribed forms ,documents, notices and returns through BizFile, ACRA’s online filing and information retrieval system. The division also plays a key role as business facilitator by simplifying the various processes for registration and maintenance of a business entity through working with other government and public agencies to make Singapore the best place to do business.
Client Contact Centre
The Client Contact Centre delivers value to the business community by providing businesses with a one-stop, focused and effective interface for queries and dealings with ACRA. On the strategic level, the Client Contact Centre leverages on research and statistical analysis of customers’ data and feedback to conduct regular reviews and process enhancements to better serve the business community. The Client Contact Centre also focuses on corporate communication strategies to advance the image of ACRA and to maintain excellent relations with its stakeholders through effective communication of ACRA’s key messages and programmes.
Client Engagement Unit
ACRA values the relationship which has been built over the years with its stakeholders, the professionals and the business community whom ACRA treats as its clients. The role of the Client Engagement Unit is to maintain the excellent relations between ACRA and its clients as well as to focus on developing strategies to improve its communication, public education and engagement efforts with them.
The Unit also gathers and collates feedback on the various issues affecting them and the policies adopted by ACRA as well as acts as a conduit for the dissemination of information through the media, website, emails, seminars, forums and other means.
Enforcement Division
The Enforcement Division ensures compliance of the various regulatory requirements by investigating into alleged offences under the laws within ACRA’s purview and take prosecutorial action against offenders, where necessary. The division also promotes voluntary compliance through public education and better understanding of the relevant laws.
Finance Division
The Finance Division is responsible for the sound management of ACRA’s monetary resources and self-funding model. Finance Division runs ACRA’s capital structure, budgeting and accounting cycles, and establishes effective financial controls and processes to achieve good stewardship of monetary assets.
Financial Reporting Regulations Division
The Financial Reporting Regulations Division promotes high quality audit and corporate financial reporting to build confidence in Singapore’s corporate financial reports. Having a trusted corporate financial reporting environment, that the various stakeholders can rely on, contributes to the growth and development of a pro-enterprise and vibrant business environment in Singapore.
The Financial Reporting Regulations Division also assists the Public Accountants Oversight Committee in the registration of public accountants, public accounting firms, public accounting limited liability partnerships and public accounting corporations, and in the regulation of the public accountancy profession in Singapore. The regulation of the public accountancy profession is achieved through delivering an effective practice monitoring programme and taking swift and just disciplinary actions. The Financial Reporting Regulations Division also assists the Registrar of Public Accountants to approve liquidators under the Companies’ Act.
Human Resource Division
The Human Resource Division underscores the importance that ACRA places on developing its people and talent to further expand and realize its corporate strategies, thus ensuring ACRA’s structure and human resource capabilities are maximized to fully support ACRA’s mission and strategic outcomes.
Information Resource Division
The Information Resource Division is responsible for data maintenance, integrity and preservation, and the provision of value-added information services. The Information Resource Division manages the ACRA database and is committed to continuously enhance ACRA’s information services to meet the evolving needs of the business community.
Information Technology Strategy Division
The Information Technology Strategy Division works closely with other ACRA divisions to enable them to provide and deliver quality and timely services that support ACRA’s mission and serve the business community in Singapore. In addition to maintaining an efficient and effective operational environment, the Information Technology Strategy Division also advises ACRA management on e-Government initiatives and the long-range planning and maintenance of IT-related efforts to advance ACRA.
Legal Services Division
The Legal Services Division advances ACRA’s mission and strategic goals by providing legal support to ACRA, its committees and divisions on policy and operational issues. It reviews business laws and regulatory policies and proposes reforms to meet evolving business needs and ensures the proper administration of the laws.
The Legal Services Division monitors legal developments in leading jurisdictions, studies how business laws can be enhanced and proposes legal and policy reforms to further refine Singapore’s corporate regulatory framework and improve its international competitiveness.
Management Services Division
The Management Services Division’s core function is to facilitate ACRA’s strategic outcomes and endeavours through the efficient management of ACRA’s resources and facilities. The Management Services Division does this by creating a support infrastructure for ACRA to run, maintain and manage its activities under the most favourable conditions.