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Stricter requirements to qualify as Singapore public accountants

Published on Aug 1, 2014 12:02 PM
 
Public accountants in Singapore will now need to meet more stringent registration requirements, the Accounting and Corporate Regulatory Authority (Acra) announced on Friday. -- PHOTO: ST FILE

SINGAPORE - Public accountants in Singapore will now need to meet more stringent registration requirements, the Accounting and Corporate Regulatory Authority (Acra) announced on Friday.

The changes, which include acquiring longer work experience as well as audit management experience in specific functions, will take effect from Feb 1 next year.

To qualify as a public accountant under the revised rules, applicants must have gained 2,500 hours of experience in audit management - the equivalent of about two years - after completing their professional accountancy training.

Applicants must also have "independently and competently performed certain key audit functions involving planning and leading an audit, and forming and reporting on the audit's conclusions", Acra said in a statement.

 
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