Company Directors Go Back to School for Lessons on Directors Duties and Responsibilities

ACRA’s new training programme for company directors is held on 25 Sep 2012. The Directors Proficiency Programme (DPP) will see 50 company directors from small and medium enterprises being taught essential statutory requirements under the Companies Act and given e-filing guidance. Using case studies, participants in the workshop-style course will also participate in interactive discussions through the sharing of best practices and common mistakes to avoid.  The programme is developed in partnership with the Institute of Certified Public Accountants of Singapore (ICPAS), the Singapore Institute of Directors (SID), and the Singapore Association of the Institute of Chartered Secretaries & Administrators (SAICSA).

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First Published on 25 September 2012

Corporate Compliance and Financial Profile (New service from ACRA)

​Businesses today need instant and up-to-date informaton to help them make balanced and informed decisions quickly. Corporate and financial information allows business owners to maintain clarity on the entities they are doing business with a

nd confirm their existence; or simply to learn more about their competitors. The corporate compliance ratings also provide busineses a view of the statutory compliance of the clients/partners they engage.

The Corporate Compliance and Financial Profile (CCFP) is a comprehensive all-in-one report, providing you with useful information that can give your business the competitive edge.

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First Published on 13 August 2012

Release of report, “The Value of the Modern CFO – Board Directors’ Perspective” (Article courtesy of ACRA)

​A report, “The Value of the Modern CFO – Board Directors’ Perspective”, was released recently at CFO Connect, an event organised by Singapore CFO Institute.

Click here to download article.

First Published on 9 July 2012

Public Consultation on Proposed Amendments to the Accountants Act

As Singapore seeks to become a leading Global-Asia Financial and Business Hub, it is essential that we continue to build on our reputation for having a pro-business and trusted regulatory environment.  It is therefore crucial that our public accountancy profession, as auditors of financial statements, continue to engender a high degree of confidence from investors and businesses.  Maintaining this confidence requires rigorous, independent regulation of audit firms and auditors (i.e. public accountants).

The last significant review of the Accountants Act was in 2004.  It is therefore timely to review the Act. This will ensure that the regulatory framework remains relevant and that we are able to keep pace with international developments. The proposed amendments aim to promote audit quality, maintain confidence in audits and protect public interest.

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First Published on 25 May 2012

Minister appoints new Chairman for the Accounting and Corporate Regulatory Authority

​The Ministry of Finance today announced the appointment of Ms Lim Soo Hoon, incoming Permanent Secretary (Finance)(Performance), as Chairman of the Board of ACRA with effect from 1 April 2012.

Ms Lim takes over the Board Chairman appointment from Ms Chan Lai Fung, Permanent Secretary (Finance)(Performance), who will be Permanent Secretary (Education Policy) with effect from 1 April 2012.

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First Published on 30 March 2012

CAD Letter with regards to Suspicious Transactions

​Due to rising trend of money laundering/terrorism, our country’s reputation is tarnished, eg. Finland blacklisting us, CAD has been vigilantly monitoring such activities. CAD had sought help from co secretaries to fight these crimes.

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First Published on 15 November 2011​

Public Consultation on the Review of the Companies Act and the Regulatory Framework for Foreign Entities

The Ministry of Finance (MOF), together with the Accounting and Corporate Regulatory Authority (ACRA) which administers the Companies Act, invite the public to provide feedback on the “Report of the Steering Committee to Review the Companies Act”. MOF and ACRA also invite the public to provide feedback on the review of the regulatory framework for foreign entities in Singapore. The public consultation exercise will run from 20 June 2011 to 16 September 2011.

Read full article here.

First Published on 20 June 2011

ACRA Compliance Initiatives

​Here’s the latest update on “New Measures to Encourage Prompt Holding of Annual General Meeting, Tabling of Current Financial Statements and Timely Filing of Annual Returns” by ACRA, starting with a Colour Coding Compliance Rating, wef 24/4/10.

Read full article here.

First Published on 15 April 2010

Directors’ Duties & Compliance Issues

Presentation given by Mr Cheok Yu-Liang, a Legal Officer of ACRA’s Legal Services Division.

Read full article here.

First Published on 27 March 2010