Practice Monitoring Programme (PMP) process
Understand how practice reviewers assess public accountants' (PAs) audits and the four possible review outcomes.
Last updated 29 January 2026
The PMP is one of the ways audit is regulated in Singapore. It assesses if audits have been performed in accordance with prescribed professional standards. For example, Singapore Standards on Auditing (SSAs) and/or other requirements.
The PMP process
The process involves three main steps.
Table caption
Step | Details |
|---|---|
| Practice reviewers, appointed by the Public Accountants Oversight Committee (PAOC), inspect a selection of the public accountant's audits to assess if the audits have been performed in accordance with the professional standards (such as the Singapore Standards on Auditing (SSAs) and/or other requirements). Note: PAs who do not audit listed companies are generally inspected by practice reviewers employed by the Institute of Singapore Chartered Accountants (ISCA) and appointed by the PAOC. |
| The PMSC considers the findings, and reports to the PAOC with its recommendations. The PMSC includes experienced public accountants and lay members. |
| The PAOC may order the PA to take remedial actions and/or make other orders to protect public interest if it concludes that the PA’s compliance with the prescribed professional standards is assessed to be partially satisfactory or not satisfactory. More details: PMP orders |
PMP outcomes
There are four possible outcomes for a PMP review.
PMP outcomes and definitions
Outcome | What it means |
|---|---|
Satisfactory | If the relevant professional standards or pronouncements have been complied with in all significant respects, with no instance(s) of non-compliance |
Satisfactory, but with findings | If the relevant professional standards or pronouncements have been complied with in all significant respects, with limited and/or minor instance(s) of non-compliance |
Partially satisfactory | If an extensive number of minor instances or more than minor instance(s) of non-compliance with relevant professional standards or pronouncements have been identified. However, the instances of non-compliance are not significant or severe |
Not satisfactory | If an extensive number and/or significant/severe and/or repeated non-compliances with relevant professional standards or pronouncements have been identified |
The significance and severity of non-compliance with relevant professional standards/pronouncements is assessed for each inspection finding, taking into account:
Extent of departure from the relevant professional standards/pronouncements; and/or
Materiality of misstatements