Audit regulation in Singapore
Understand ACRA's role in audit regulation, including public accountant (PA) registration and monitoring of audit quality.
Last updated 29 January 2026
Who oversees regulation
The PAOC oversees audit regulation under the Accountants Act.
PAOC members include experienced professionals from public service, business, and the audit profession.
Most PAOC members are not PAs to ensure independence.
How ACRA regulates audits
ACRA registers PAs, monitors their audit work, and publishes information about audit quality.
PA registration
Under the Accountants Act, you must register as a PA to provide these public accountancy services:
Auditing and reporting on financial statements
Performing acts that are required by law to be done by a PA
More details: Understanding PA requirements & eligibility
Monitoring and compliance
ACRA monitors PAs to ensure their audit opinions are supported by sufficient and appropriate audit evidence.
Monitoring: PAs and AEs
Type | Requirements and monitoring |
|---|---|
PAs | All registered PAs must:
Under the PMP, ACRA inspects audits to check if PAs have complied with professional standards. This includes:
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Accounting entities (AEs) | AEs must maintain quality control systems that meet Singapore Standards on Quality Management (SSQM 1 and SSQM 2). More details: Quality control reviews |
How ACRA promotes audit quality
Audit Quality Indicator (AQI) Disclosure Framework
The AQI Framework helps audit committees of listed companies select auditors based on quality markers.
The AQI framework includes seven quality markers, such as:
Audit team involvement at each audit stage
Years of audit experience of team members
Industry expertise of team members
Results from internal and external inspections of auditors
Working with partners for audit quality
High-quality audits depend on multiple parties working together. Besides auditors, this includes company directors, financial statement preparers, and investors.
ACRA works with industry partners to:
Support public accountants with resources and guidance
Educate business leaders about their role in the audit process
Promote understanding of audit value across the business community
Related resources:
International partnerships
ACRA works with international and regional audit regulators to benchmark practices, share knowledge, and promote audit quality globally.
ACRA's international partners
Partner | Details |
|---|---|
International Forum of Independent Audit Regulators (IFIAR) | ACRA is a founding member of IFIAR, a global network of 56 members. ACRA actively contributes through:
IFIAR brings together audit regulators worldwide to:
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ASEAN Audit Regulators Group (AARG) | ACRA is part of AARG, a regional collaboration of audit regulators from five ASEAN countries:
AARG strengthens audit regulation across Southeast Asia by:
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