CATEGORY: NEWS AND ANNOUNCEMENTS, PRESS RELEASES
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.