Public Accountants

Audit Regulation

An independent auditor's report enables investors and others to trust a business's financial statements. The report states whether the financial statements comply with financial reporting standards, and are true and fair.

In Singapore, only a public accountant or an accounting entity approved by ACRA may provide an audit opinion on financial statements.

Through its independent oversight of public accountants and accounting entities, ACRA enables a high degree of confidence in Singapore's audited financial information.

• Audit Regulation in Singapore
• International Audit Regulators 

Practice Monitoring Programme (PMP)

Under the PMP, ACRA inspects audits performed by public accountants to check if they have complied with the Singapore Standards on Auditing (SSA) and other requirements.

• PMP Process
• PMP Orders
• PMP Public Reports

Regulatory Notices

Orders Issued on Public Accountants (Audit inspection outcomes)

• Suspension /Cancellation of Public Accountants registered with ACRA due to: 
  • Failure to pass a practice review
  • Non-compliance with an order issued by the Public Accountants Oversight Committee 
• Public Accountants who failed second or revisit inspection and who are issued with a hot review and/or restriction order 

Orders Issued on Public Accountants (Disciplinary)

• Disciplinary Proceedings (Gazette)

Guides for Public Accountants

• List of Guides for Public Accountants

Registering as Public Accountants

• New registration requirements from 1 Jan 2019
• Professional Requirements
• How to Register

Guides for Public Accounting Entities

• Setting Up a Public Accounting Corporation (PAC)
• Setting Up a Public Accounting Firm (PAF)
• Setting Up an Accounting Limited Liability Partnership (ALLP)

Publications and Other Resources

• Audit Practice Bulletins
• Revisions to ACRA’s AQI Disclosure Framework
• Anti-money Laundering and Counter-financing of Terrorism Resources
• Information on Audit Quality
• Practice Directions
• CDAS Final Report
• Public Accountants registered for the purpose of becoming Judicial Managers pursuant to section 227B(3)(a) of the Companies Act and/or Trustees in Bankruptcy pursuant to section 34(a)(i) of the Bankruptcy Act

Professional Accountancy Bodies in Singapore

Guidance and reports relevant to auditing and financial reporting are also available from professional accountancy bodies in Singapore:

• Institute of Singapore Chartered Accountants (ISCA)
• ACCA (Association of Chartered Certified Accountants)
• CPA Australia
• Institute of Chartered Accountants in England and Wales (ICAEW)

International Audit Quality Resources

• Center for Audit Quality (CAQ)
• International Forum of Independent Audit Regulators (IFIAR)
• International Federation of Accountants (IFAC)