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Accounting and Corporate Regulatory Authority
Press release

Directors’ competency crucial to uphold quality in financial reporting

Audience

Businesses

Corporate service providers (CSPs)

Public

News Topic

Accounting standards and sector regulation

Regulatory updates

14 July 2020

This article has been migrated from an earlier version of the site and may display formatting inconsistencies.

ACRA issued its latest report on key findings from the third review cycle of the Financial Reporting Surveillance Programme (FRSP) today. It was observed that the lack of deep knowledge and due care by preparers and directors were the root causes contributing to material non-compliances with accounting standards found under the programme. Overall, there is room for improvement in the quality of financial statements issued by companies incorporated in Singapore.

Please refer to the press release and full report or more information.

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