What We Do
The mission of ACRA is to provide a trusted and vibrant business environment in Singapore. ACRA's role is to achieve synergies between the monitoring of corporate compliance with disclosure requirements and regulation of public accountants performing statutory audit.
ACRA was formed as a statutory board on 1 April 2004, following the merger of the then Registry of Companies and Businesses (RCB), and the Public Accountants' Board (PAB).
ACRA's Vision, Mission, Corporate Goals and Values
Singapore: The Best Place for Business
Provide a trusted and vibrant business environment in Singapore
ACRA's four corporate goals:
- Sustainable Business Growth
- High Compliance
- Excellent Customer Experience
- High Performing Team
'ITAP', ACRA's core values, guide us in all that we do:
- Integrity - We do what is right without fear or favour, and serve with passion and purpose
- Teamwork - We help one another be the best that we can be, with mutual trust and respect
- Agility - We are resilient and adapt to changes swiftly to do what is best for ACRA
- Professionalism - We pursue excellence in all that we do; we value our customers and are highly regarded by them
Responsibilities of ACRA
ACRA is responsible for the following functions:
- To administer the Accounting and Corporate Regulatory Authority Act (Cap 2A), the Accountants Act (Cap 2), the Business Names Registration Act (Cap 32), the Companies Act (Cap 50), the Limited Liability Partnerships Act (Cap 163A) and the Limited Partnerships Act 2008 (Act 37 of 2008);
- To report and make recommendations to, and advise the Government on matters relating to the registration and regulation of business entities, public accountants and corporate service providers;
- To establish and administer a repository of documents and information relating to business entities, public accountants and corporate service providers and to provide access to the public to such documents and information;
- To represent the Government internationally in matters relating to the registration and regulation of business entities, public accountants and corporate service providers; and
- To promote public awareness about new business structures, compliance requirements, corporate governance practice and any matter under the purview of the Authority.
ACRA's Data Policy Statement
As the national business registry of Singapore, one of ACRA’s functions is to establish and administer a repository of documents and information relating to business entities and public accountants, and to provide access to the public to such documents and information.
This is to facilitate trade and interactions among businesses and members of the public, enhance transparency and enable the public to conduct due diligence checks on these entities and the people who operate them.
Most of the information lodged with ACRA via BizFile+, ACRA’s on-line registry system, can be accessed by the public upon payment of a fee. Some of the information can also be obtained from ACRA’s authorised Information Service Providers (ISPs).
Information for Public Access
The information available for public access includes registration date, nature of business activity, registered office address and financial statements of business entities, as well as personal data about owners, shareholders, directors and officers of the business. The types of personal data publicly available are:
- Identification Number
- Residential Address (if no Alternate Address is given)
Holders of personal data obtained through ACRA's system or from authorised ISPs are responsible for making sure that they comply with the Personal Data Protection Act (PDPA) and other laws, regarding the disclosure and use of personal data and information. Should the use of information by anyone constitute an offence or a breach of the law, he or she may face legal action or criminal prosecution.
ACRA is exempted from the PDPA. The ACRA Act provides for ACRA to disclose personal data in discharging its functions. Nevertheless, ACRA adheres to the Public Sector (Governance) Act and Government Instruction Manuals with respect to the way data is managed. This includes putting in place processes and procedures to prevent disclosure of data under circumstances other than those allowed under the ACRA Act.
ACRA will continue to keep abreast of industry standards and strive to implement best practices where applicable, with respect to the way we manage personal data.