Accountants Act 2004

Accountants Act 2004

2020 REVISED EDITION

This revised edition incorporates all amendments up to and including 1 December 2021 and comes into operation on 31 December 2021

An Act relating to public accountants.

[5/2013]

[1 April 2004]

PART 1

PRELIMINARY

Short title

1.  This Act is the Accountants Act 2004.

Interpretation

2.—(1)  In this Act, unless the context otherwise requires —

“accounting corporation” means a company approved as an accounting corporation under section 17;

“accounting firm” means a firm approved as an accounting firm under section 18;

“accounting limited liability partnership” or “accounting LLP” means a limited liability partnership approved as an accounting limited liability partnership under section 18A;

[Deleted by Act 21 of 2024 wef 09/12/2024]

“ACRA administered Act” means the Accounting and Corporate Regulatory Authority Act 2004 or any of the written laws specified in the Second Schedule to that Act;

[Act 21 of 2024 wef 09/12/2024]

“Authority” means the Accounting and Corporate Regulatory Authority established under the Accounting and Corporate Regulatory Authority Act 2004;

“Chairperson” means the Chairperson of the Oversight Committee;

“company” has the meaning given by the Companies Act 1967;

“Complaints and Disciplinary Panel” means the Complaints and Disciplinary Panel appointed under section 39;

“Complaints Committee” means a Complaints Committee constituted under Part 6;

“contact address”, in relation to an individual, means an address that meets all of the following conditions:

(a) it is a physical address at which the individual can be physically found or contacted by post;

(b) it is not a post office box number;

(c) it is located in the same jurisdiction as the individual’s residential address;

[Act 21 of 2024 wef 09/12/2024]

“corporate practitioner” —

(a) in relation to an accounting corporation, means a director or an employee of the corporation who is a public accountant and practising as such in that corporation; and

(b) in relation to an accounting LLP, means a partner or an employee of the accounting LLP who is a public accountant and practising as such in the accounting LLP;

“costs and expenses”, in relation to any proceedings under Part 6, includes —

(a) the costs and expenses of any legal assessor and any advocate and solicitor appointed by the Oversight Committee for proceedings before a Complaints Committee or a Disciplinary Committee;

(b) such reasonable expenses as the Oversight Committee may pay to witnesses; and

(c) such reasonable expenses as are necessary for, or incidental to, the institution and conduct of proceedings before a Complaints Committee or a Disciplinary Committee;

“Disciplinary Committee” means a Disciplinary Committee constituted under Part 6;

“electronic transaction system” means the electronic transaction system mentioned in section 12A(1);

[Act 21 of 2024 wef 09/12/2024]

“firm” means a sole proprietorship or partnership;

“full name” or “name” means —

(a) in the case of an individual registered under the National Registration Act 1965 — the name as it appears in the latest identity card issued to that individual under section 9 of that Act; or

(b) in the case of an individual not registered under the National Registration Act 1965 — the name as it appears in the latest passport issued to that individual or such other similar evidence of identification as is available;

[Act 21 of 2024 wef 09/12/2024]

“identification” means —

(a) in the case of an individual issued with an identity card under the National Registration Act 1965, the number of the individual’s identity card; and

(b) in the case of an individual not issued with an identity card under that Act, particulars of the individual’s passport or other similar evidence of identity that is acceptable to the Registrar;

“lay person”, in relation to the Complaints and Disciplinary Panel, a Complaints Committee or a Disciplinary Committee, means an architect, a banker, an advocate and solicitor, a company director, an insurer, a professional engineer, a medical practitioner or a person who possesses such other qualifications as may be approved by the Oversight Committee;

“limited liability partnership” has the meaning given by section 4(1) of the Limited Liability Partnerships Act 2005;

“manager”, in relation to a limited liability partnership, has the meaning given by section 2(1) of the Limited Liability Partnership Act 2005;

“Oversight Committee” means the Public Accountants Oversight Committee appointed by the Authority under section 4;

“professional indemnity insurance” includes insurance indemnifying a public accountant, an accounting corporation, an accounting firm or an accounting LLP against liability to compensate a third party who has sustained financial loss or any other damage or injury due to a breach of professional duty or to any professional negligence on the part of such public accountant, accounting corporation, accounting firm or accounting LLP, as the case may be (including any such negligence by any director of such accounting corporation or any partner of such accounting LLP), or fraud or dishonesty;

“public accountancy services” means the audit and reporting on financial statements and the doing of any other acts that are required by any written law to be done by a public accountant;

“public accountant” means an individual who is registered or deemed to be registered in accordance with this Act as a public accountant;

“Register of Public Accountants” means the register kept and maintained under section 5(1)(a)(i);

“Register of Public Accounting Corporations” means the register kept and maintained under section 5(1)(a)(ii);

“Register of Public Accounting Firms” means the register kept and maintained under section 5(1)(a)(iii);

“Register of Public Accounting Limited Liability Partnerships” means the register kept and maintained under section 5(1)(a)(iv);

“Registrar” means the Registrar of Public Accountants appointed by the Authority under section 7(1)(a) and includes a Deputy Registrar and an Assistant Registrar appointed under section 7(1)(b);

“relevant particulars”, in relation to a public accountant, an accounting corporation, an accounting firm or an accounting LLP, means such particulars of the public accountant, accounting corporation, accounting firm or accounting LLP as the Oversight Committee may determine to be relevant for inclusion in the Register of Public Accountants, the Register of Public Accounting Corporations, the Register of Public Accounting Firms or the Register of Public Accounting Limited Liability Partnerships, as the case may be;

“repealed Accountants Act” means the Accountants Act (Cap. 2, 2001 Revised Edition) in force immediately before 1 April 2004;

“residential address”, in relation to an individual, means the individual’s usual place of residence;

“rules” means rules made under section 64;

“voting share”, in relation to a company or an accounting corporation, means an issued share in the company or accounting corporation other than —

(a) a share to which, in no circumstances, is there attached a right to vote; or

(b) a share to which there is attached a right to vote only in one or more of the following circumstances:

(i) during a period in which a dividend (or part of a dividend) in respect of the share is in arrears;

(ii) upon a proposal to reduce the share capital of the company or accounting corporation;

(iii) upon a proposal that affects rights attached to the share;

(iv) upon a proposal to wind up the company or accounting corporation;

(v) upon a proposal for the disposal of the whole of the property, business and undertakings of the company or accounting corporation;

(vi) during the winding up of the company or accounting corporation.

[11/2006; 35/2014]

(2)  In this Act, a reference to improper conduct by, of or on the part of, a public accountant, an accounting corporation, an accounting firm or an accounting LLP includes any breach of any code of professional conduct and ethics prescribed by order under section 64AA(1)(a).

[Act 32 of 2022 wef 01/07/2023]

(3)  For the purposes of sections 11(7), 15(6), 20(1), (3) and (4), 31(7) and 48(3), (4) and (5), any reference to the Minister includes a reference to such Minister of State for his or her Ministry who is authorised by the Minister for the purpose of hearing an appeal under that section.

[35/2014]

PART 2

ADMINISTRATION OF ACT

Administration of Act

3.  The Authority is responsible —

(a) for the registration of public accountants and the approval of accounting corporations, accounting firms and accounting LLPs and the names thereof under this Act;

(b) for the control and regulation of the practice of the profession of accountancy by public accountants, accounting corporations, accounting firms and accounting LLPs; and

(c) generally, for the administration of this Act,

and must carry out those functions subject to the general or special directions of the Minister.

[11/2006]

Appointment of Public Accountants Oversight Committee

4.—(1)  For the discharge of its functions under section 3, the Authority may, with the approval of the Minister and subject to subsections (2) and (2A), appoint from among its members or from among other persons a committee to be known as the Public Accountants Oversight Committee.

[Act 36 of 2022 wef 01/04/2023]

(2)  At least one member of the Oversight Committee must be a public accountant.

(2A)  At least 3 members of the Oversight Committee must be members of the Authority.

[Act 36 of 2022 wef 01/04/2023]

(3)  The Oversight Committee must carry out the functions and duties and exercise the powers conferred on it by this Act in accordance with any general or special directions that the Authority may give to the Oversight Committee.

(4)  The First Schedule has effect with respect to the Oversight Committee, its members and proceedings.

[Act 32 of 2022 wef 01/07/2023]

(5)  [Deleted by Act 32 of 2022 wef 01/07/2023]

(6)  For the purposes of the Accounting and Corporate Regulatory Authority Act 2004, a member of the Oversight Committee is deemed to be a member of a committee of the Authority.

[Act 36 of 2022 wef 01/04/2023]

Functions and powers of Oversight Committee

5.—(1)  The Oversight Committee is to assist the Authority in the discharge of the Authority’s functions under section 3 and, in so doing, is to —

(a) keep and maintain —

(i) a Register of Public Accountants;

(ii) a Register of Public Accounting Corporations;

(iii) a Register of Public Accounting Firms;

(iv) a Register of Public Accounting Limited Liability Partnerships; and

(v) any other registers that may be necessary for the purposes of this Act;

(b) consider and, as appropriate, grant (whether unconditionally or subject to such conditions as it thinks fit) or reject —

(i) all applications for registration made under Part 3; and

(ii) all applications for approval under Part 4;

(c) assist the Authority in determining, prescribing and reviewing the requirements to be satisfied by individuals seeking to be registered as public accountants under Part 3;

(d) conduct or arrange for the conduct of such examinations as it thinks necessary for the purposes of registering public accountants;

(e) administer the continuing professional education programmes for public accountants;

(f) administer the practice monitoring programmes under Part 5;

(g) assist the Authority to determine, prescribe, issue, adopt and review —

(i) the requirements to be applied by public accountants, accounting corporations, accounting firms and accounting LLPs in relation to —

(A) the detection and prevention of money laundering or the financing of terrorism; and

(B) the recording and reporting of transactions suspected of involving money laundering or the financing of terrorism,

including any requirement necessary or expedient to give effect to any recommendation issued or adopted by the intergovernmental body known as the Financial Action Task Force relating to the prevention of money laundering and the financing of terrorism;

(ii) the requirements in respect of professional conduct and ethics applicable to public accountants, accounting corporations, accounting firms and accounting LLPs when providing public accountancy services, other than the matters assigned to the Oversight Committee by the Authority and set out in the code of professional conduct and ethics prescribed by order under section 64AA(1)(a); and

(iii) the standards, methods, procedures and other requirements to be applied by public accountants, accounting corporations, accounting firms and accounting LLPs when providing public accountancy services, other than any standard, method, procedure or requirement which is of a class or description specified in the Second Schedule;

[Act 32 of 2022 wef 01/07/2023]

(ga) administer programmes to review the compliance by —

(i) accounting corporations, accounting firms and accounting LLPs with the quality control standards as defined in section 38B; and

(ii) public accountants, accounting corporations, accounting firms and accounting LLPs with the requirements relating to the detection and prevention of money laundering and the financing of terrorism,

in accordance with Part 5A;

[Act 32 of 2022 wef 01/07/2023]

(h) inquire into —

(i) any complaint against any public accountant, accounting corporation, accounting firm or accounting LLP; or

(ii) any information relating to any professional misconduct on the part of any public accountant, accounting corporation, accounting firm or accounting LLP,

and, if necessary, institute disciplinary proceedings in accordance with Part 6;

(i) advise the Authority on any matter which relates to the profession of public accountancy;

[Act 32 of 2022 wef 01/07/2023]

(ia) prescribe the code of professional conduct and ethics applicable to public accountants, accounting corporations, accounting firms and accounting LLPs;

[Act 32 of 2022 wef 01/07/2023]

(ib) prescribe any standard, method, procedure or other requirement which is of a class or description specified in the Second Schedule that is to be applied by public accountants, accounting corporations, accounting firms and accounting LLPs when providing public accountancy services; and

[Act 32 of 2022 wef 01/07/2023]

(j) generally do all such acts, matters and things as are necessary to be carried out, or which the Oversight Committee is authorised to carry out, under this Act.

[11/2006]

(2)  The registers referred to in subsection (1)(a) may be kept in such form or manner as the Oversight Committee may determine.

(3)  Subject to any general or special direction given by the Authority, the Oversight Committee has the power to do anything for the purpose of discharging its functions under this Act, or which is incidental or conducive to the discharge of those functions.

Appointment of sub-committees by Oversight Committee

6.—(1)  Subject to any general or special direction of the Authority, the Oversight Committee may appoint one or more sub‑committees for any general or special purpose which in the opinion of the Oversight Committee may be better dealt with or managed by a sub‑committee.

(2)  The Oversight Committee may delegate to any sub‑committee appointed under subsection (1), with or without restrictions or conditions as it thinks fit, any of the powers or functions which may be exercised or performed by the Oversight Committee under this Act.

(3)  The number and term of office of the members of any sub‑committee appointed under this section and the number of those members necessary to form a quorum is to be determined by the Oversight Committee.

(4)  A sub-committee appointed under this section may include persons who are not members of the Oversight Committee.

(5)  The Oversight Committee may continue to exercise any power conferred upon it or perform any function under this Act despite the delegation of such power or function to a sub‑committee under this section.

(6)  For the purposes of the Accounting and Corporate Regulatory Authority Act 2004, any member of a sub‑committee appointed by the Oversight Committee under or for the purposes of this Act is deemed to be a member of a committee of the Authority.

Appointment and duties of Registrar

7.—(1)  The Authority must, from among its officers, appoint —

(a) a Registrar of Public Accountants; and

(b) such number of Deputy Registrars and Assistant Registrars of Public Accountants as the Authority considers necessary.

(2)  The Registrar must —

(a) carry out the functions and duties and exercise the powers conferred on him or her by this Act in accordance with any general or special directions that the Authority or the Oversight Committee may give to him or her;

(b) attend all meetings of the Oversight Committee and record the proceedings of those meetings;

(c) conduct the correspondence and deal with such matters as may be assigned to him or her by the Authority or the Oversight Committee;

(d) issue all certificates and notices required to be issued under this Act; and

(e) collect all fees payable under this Act and pay all amounts so collected into the funds of the Authority.

(3)  Subject to such restrictions and limitations as the Authority or Oversight Committee may determine, the powers and duties of the Registrar under this Act may be exercised and discharged by a Deputy Registrar or an Assistant Registrar.

Registers

8.—(1)  The Registrar is responsible for the custody and maintenance of —

(a) the Register of Public Accountants;

(b) the Register of Public Accounting Corporations;

(c) the Register of Public Accounting Firms; and

(d) the Register of Public Accounting Limited Liability Partnerships.

[11/2006]

(2)  The Registrar must —

(a) record —

(i) in the Register of Public Accountants the name and relevant particulars of every public accountant who is registered under this Act or whose registration has been suspended or cancelled;

(ii) in the Register of Public Accounting Corporations the name and relevant particulars of every accounting corporation that is approved under this Act or that has had its approval revoked;

(iii) in the Register of Public Accounting Firms the name and relevant particulars of every accounting firm that is approved under this Act or that has had its approval revoked; and

(iv) in the Register of Public Accounting Limited Liability Partnerships the name and relevant particulars of every accounting LLP that is approved under this Act or that has had its approval revoked;

(b) allow any person to inspect the Register of Public Accountants, the Register of Public Accounting Corporations, the Register of Public Accounting Firms or the Register of Public Accounting Limited Liability Partnerships in such manner and on such terms as the Oversight Committee may determine;

(c) insert in the appropriate register any change in the names or relevant particulars recorded therein that may have been notified to him or her or that may otherwise have come to his or her knowledge; and

(d) correct any error in any entry in any of the registers.

[11/2006]

Transitional provision for contact address

8A.—(1)  Where an individual maintained an alternate address with the Registrar under this Act immediately before the commencement date, as from that date, the Registrar must cause —

(a) the alternate address to be kept as the individual’s contact address in a register maintained under section 8(1), instead of as the individual’s alternate address, until notice of a change in the individual’s contact address is lodged under any ACRA administered Act on or after that date; and

(b) the contact address to be made available for public inspection under section 8(2)(b) as the individual’s address.

(2)  Where an individual did not maintain an alternate address with the Registrar under this Act immediately before the commencement date, but the individual’s residential address is kept in a register maintained under section 8(1), the Registrar must, as from that date, cause —

(a) the individual’s residential address to be kept as the individual’s contact address in that register, in addition to being kept as the individual’s residential address, until notice of a change in the individual’s contact address is lodged under any ACRA administered Act on or after that date; and

(b) the contact address to be made available for public inspection under section 8(2)(b) as the individual’s address.

(3)  Where —

(a) before the commencement date, the residential address of an individual practitioner of an accounting corporation, an accounting firm or an accounting LLP, a director of an accounting corporation, a partner of an accounting firm or a partner or manager of an accounting LLP (called in this subsection the individual) has been entered in a register mentioned in section 8(1) of that accounting corporation, accounting firm or accounting LLP, as the case may be; and

(b) on the commencement date, the registers mentioned in section 8(1) of that accounting corporation, accounting firm or accounting LLP (as the case may be) do not show that the individual holds any of the positions mentioned in paragraph (a) in the same accounting corporation, accounting firm or accounting LLP, as the case may be,

the Registrar must, as from the commencement date, cause the individual’s residential address to be excluded from public inspection of that register of that accounting corporation, accounting firm or accounting LLP (as the case may be) under section 8(2)(b).

(4)  In this section —

“commencement date” means the date of commencement of section 14 of the ACRA (Registry and Regulatory Enhancements) Act 2024;

“individual practitioner” has the meaning given by section 38B.

[Act 21 of 2024 wef 09/12/2024]

Exclusion of residential address from public inspection if contact address is available

8B.—(1)  The Registrar must cause an individual’s residential address recorded in any register maintained under section 8(1) to be excluded from public inspection under section 8(2)(b).

(2)  Where, pursuant to subsection (1) or (3), the individual’s residential address is excluded from public inspection under section 8(2)(b), the Registrar may cause the residential address to cease to be excluded from such public inspection in accordance with section 8C.

(3)  Where, pursuant to subsection (2), the individual’s residential address has ceased to be excluded from public inspection under section 8(2)(b), the Registrar must cause the exclusion from public inspection to resume if —

(a) subject to section 8C(8) and the equivalent provisions in other ACRA administered Acts, the Registrar receives notice of the individual’s contact address under any ACRA administered Act; or

(b) the Court so directs on an appeal under section 8C(7).

[Act 21 of 2024 wef 09/12/2024]

Cessation of exclusion of residential address from public inspection

8C.—(1)  For the purposes of section 8B(2), the grounds for causing an individual’s residential address to cease to be excluded from public inspection under section 8(2)(b) are either that —

(a) communications sent by the Registrar under this Act, or any officer of the Authority under any ACRA administered Act, to the individual at his or her contact address and requiring a response within a specified period remain unanswered; or

(b) there is evidence to show that service of any document under this Act or under any ACRA administered Act at the individual’s contact address is not effective to bring it to the notice of the individual.

(2)  Before causing the individual’s residential address to cease to be excluded from public inspection pursuant to section 8B(2), the Registrar must give a notice under subsection (3) to —

(a) the individual; and

(b) every accounting LLP or accounting corporation in respect of which the individual’s residential address had been recorded in any register maintained under section 8(1).

(3)  The notice mentioned in subsection (2) must —

(a) state the grounds under subsection (1) on which the Registrar intends to cease the exclusion of the individual’s residential address; and

(b) specify the period within which representations may be made to the Registrar.

(4)  The Registrar must consider the representations (if any) given in response to the notice mentioned in subsection (2) and received within the period specified by the Registrar under subsection (3)(b).

(5)  If the Registrar decides to cause the individual’s residential address to cease being excluded from public inspection, the Registrar must before doing so give notice of the decision to —

(a) the individual; and

(b) every accounting LLP or accounting corporation in respect of which the individual’s residential address had been recorded in any register maintained under section 8(1).

(6)  A notice to the individual under subsection (2) or (5) must be sent to the individual’s residential address unless it appears to the Registrar that service at that address may be ineffective to bring it to the individual’s notice, in which case it may be sent to any other last known address of that individual.

(7)  Any person aggrieved by the decision of the Registrar under section 8B(2) may, within 30 days after the date of receiving the notice under subsection (5), appeal to the Court which may confirm or reverse the Registrar’s decision and make any directions in the matter.

(8)  The individual is not allowed to provide a contact address within 3 years after the Registrar causes the individual’s residential address to cease to be excluded from public inspection under section 8(2)(b) pursuant to section 8B(2), unless the Registrar is satisfied that there is good cause for allowing the individual to do so in a particular case.

(9)  Subject to subsection (8), where notice of a change in the individual’s contact address is lodged under any ACRA administered Act, the Registrar must replace the individual’s contact address in each register maintained under section 8(1) with the new contact address.

[Act 21 of 2024 wef 09/12/2024]

Certificate of Registrar

9.  Where any question arises as to whether or not —

(a) an individual is or was a public accountant registered under this Act;

(b) a company is or was an accounting corporation approved under this Act;

(c) a firm is or was an accounting firm approved under this Act;

(d) a limited liability partnership is or was an accounting LLP approved under this Act; or

(e) an entry in any register kept under this Act is accurate or correct,

a certificate issued by the Registrar addressing such question is admissible as evidence in any proceedings and is prima facie evidence of the facts stated in the certificate.

[11/2006]

PART 3

REGISTRATION OF PUBLIC ACCOUNTANTS

Qualifications for registration

10.—(1)  Any individual who —

(a) has attained 21 years of age; and

(b) satisfies the prescribed requirements relating to —

(i) qualifications;

(ii) practical experience; and

(iii) membership in any professional accountancy body or organisation,

is entitled, on payment of the prescribed fee, to be registered as a public accountant under this Part.

(2)  The Authority may, after consultation with the Oversight Committee and subject to such conditions as it thinks fit, exempt any individual from any of the prescribed requirements referred to in subsection (1)(b).

Application for registration

11.—(1)  Any individual who desires to be registered as a public accountant under this Part may make an application to the Oversight Committee in such form or manner as the Oversight Committee may require.

(2)  An application for registration under subsection (1) on or after the date of commencement of section 15 of the ACRA (Registry and Regulatory Enhancements) Act 2024 must contain the following particulars of the applicant:

(a) full name;

(b) identification;

(c) nationality;

(d) residential address and contact address.

[35/2014]

[Act 21 of 2024 wef 09/12/2024]

(3)  An application under subsection (1) must be accompanied by —

(a) the prescribed fee; and

(b) a declaration by the applicant verifying any information contained in or relating to the application.

(4)  The Oversight Committee may require an applicant for registration to undergo such interviews as the Oversight Committee may determine.

(5)  The Oversight Committee may refuse to register any applicant who —

(a) in the opinion of the Oversight Committee —

(i) is not of good reputation or character;

(ii) is engaged in any business or occupation that is inconsistent with the integrity of a public accountant; or

(iii) is otherwise unfit to practise as a public accountant; or

(b) has had his or her registration, licence or approval to practise as a public accountant in any other country withdrawn, suspended, cancelled or revoked.

(6)  Where the Oversight Committee refuses to register an applicant, it must by written notice inform the applicant of its refusal.

(7)  Any person who is aggrieved by any refusal of the Oversight Committee under subsection (5) may, within 30 days of the notice given under subsection (6), appeal to the Minister whose decision is final.

(8)  In the case of an applicant who applies for registration before 3 January 2016 and is registered as a public accountant after 3 January 2016, the address stated in his or her application to the Oversight Committee is treated as his or her residential address in the Register of Public Accountants, until a notification of any change to his or her residential address is received under section 14(1).

[35/2014]

(9)  In the case of a public accountant registered before 3 January 2016, the address as recorded in the Register of Public Accountants is treated as his or her residential address in that Register, until a notification of any change to the public accountant’s residential address is received by the Registrar under section 14(1).

[35/2014]

Certificate of registration and record in Register of Public Accountants

12.—(1)  Upon an individual being registered as a public accountant under this Part, the Registrar must —

(a) issue to the individual a certificate of registration; and

(b) record his or her name and relevant particulars in the Register of Public Accountants.

(2)  A certificate of registration must be issued in such form or manner as the Oversight Committee may determine.

(3)  Subject to the provisions of this Act, every such certificate of registration is in force from the date of its issue or renewal to 31 December of the year in respect of which the certificate is issued or renewed.

Electronic transaction system

12A.—(1)  The Registrar may —

(a) require or permit any person to carry out any transaction with the Registrar under this Act; and

(b) issue any approval, certificate, notice, determination or other document pursuant or connected to a transaction referred to in paragraph (a),

using the electronic transaction system established under Part 6A of the Accounting and Corporate Regulatory Authority Act 2004.

[18/2014]

(2)  In this section, “transaction”, in relation to the Registrar, means —

(a) the filing or lodging of any document with the Registrar, or the submission, production, delivery, provision or sending of any document to the Registrar;

(b) any making of any application, submission or request to the Registrar;

(c) any provision of any undertaking or declaration to the Registrar; and

(d) any extraction, retrieval or accessing of any document, record or information maintained by the Registrar.

[18/2014]

Request for copy of filed documents

12B.—(1)  A person may, upon payment of such fee as may be prescribed, require a copy of or an extract from any document, as may be prescribed, which is filed with the Registrar, to be given or certified by the Registrar.

[35/2014]

[Act 21 of 2024 wef 09/12/2024]

(2)  Any copy or extract given under subsection (1) which is certified to be a true copy or extract by the Registrar is, in any proceedings, admissible in evidence as of equal validity with the original document.

[35/2014]

(3)  Subsection (1) does not apply to any document prescribed as an excluded document for the purposes of this subsection.

[Act 21 of 2024 wef 09/12/2024]

(4)  Where a document is submitted on or after the date of commencement of section 16 of the ACRA (Registry and Regulatory Enhancements) Act 2024 using a form on the electronic transaction system, the reference to a document in subsection (1) excludes the following entries in the form:

(a) a means of notification provided by a person for the purposes of section 28A(1)(b) of the Accounting and Corporate Regulatory Authority Act 2004;

(b) an individual’s date of birth obtained under this Act or section 28(1A) of the Accounting and Corporate Regulatory Authority Act 2004;

(c) any other prescribed information.

[Act 21 of 2024 wef 09/12/2024]

(5)  Where —

(a) a document is filed or lodged with the Registrar or the Oversight Committee under this Act by submitting a form on the electronic transaction system on or after the date of commencement of section 16 of the ACRA (Registry and Regulatory Enhancements) Act 2024; and

(b) an individual’s residential address is entered in that form,

the Registrar must cause the individual’s residential address to be excluded from every copy or extract of that document given or certified by the Registrar under subsection (1).

[Act 21 of 2024 wef 09/12/2024]

12C.  [Deleted by Act 21 of 2024 wef 09/12/2024]

Renewal of registration

13.—(1)  Unless the Oversight Committee or the Registrar allows otherwise, a public accountant who desires to renew his or her certificate of registration upon its expiry must, at least one month before the date of the expiry, submit his or her application for the renewal to the Oversight Committee in such form or manner as the Oversight Committee may require.

(2)  An application under subsection (1) must be accompanied by —

(a) the prescribed fee; and

(b) a declaration by the applicant verifying any information contained in or relating to the application.

(3)  Unless the Oversight Committee determines otherwise, a public accountant is not entitled to have his or her certificate of registration renewed if he or she has failed —

(a) to comply with the prescribed requirements relating to continuing professional education;

(b) to comply with any order made under section 38(1) or (2)(b); or

[Act 32 of 2022 wef 01/07/2023]

(c) to satisfy any other requirement that the Oversight Committee thinks relevant.

Duty to report change in particulars

14.—(1)  Every public accountant must, whenever there is any change in his or her name, residential address, contact address or any other of his or her relevant particulars as recorded in the Register of Public Accountants, notify the Registrar of such change within 30 days thereof in such manner as the Oversight Committee may require.

[35/2014]

[Act 21 of 2024 wef 09/12/2024]

(2)  Any person who, without reasonable excuse, fails to comply with subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $1,000.

(3)  Where the public accountant has changed his or her residential address and has made a report of the change under section 10 of the National Registration Act 1965, the public accountant is to be taken to have informed the Registrar of the change of residential address in compliance with subsection (1).

[35/2014]

Removal from Register of Public Accountants

15.—(1)  The Registrar must remove from the Register of Public Accountants the name and relevant particulars of any public accountant —

(a) who has died;

(b) who has become unfit to practise as a public accountant by reason of any physical or mental condition;

(c) who has been adjudged a bankrupt;

(d) who, without reasonable excuse, has failed to renew his or her certificate of registration after one month from the date of the expiry of the certificate of registration;

(e) whose registration has been cancelled under the provisions of Part 5, 5A or 6; or

[Act 32 of 2022 wef 01/07/2023]

(f) who has applied to the Oversight Committee for his or her registration to be cancelled and whose application has been granted by the Oversight Committee.

(2)  Subject to subsection (3), any individual whose name has been removed from the Register under subsection (1)(d) may, if he or she desires to be reinstated in the Register, apply to the Registrar for reinstatement within 21 days of his or her being informed by the Registrar of the removal of his or her name from the Register, and the Registrar must, upon payment of the prescribed fee by the applicant, reinstate the applicant to the Register.

(3)  The Registrar must not remove the name and relevant particulars of a public accountant from the Register of Public Accountants under subsection (1)(d) and the Oversight Committee must not grant an application by a public accountant to cancel his or her registration under subsection (1)(f), if the Registrar or Oversight Committee (as the case may be) has received any complaint or information against the public accountant under Part 6, or if disciplinary proceedings under that Part are pending against the public accountant.

(4)  The Oversight Committee may also cancel the registration of a public accountant and order the removal of his or her name and relevant particulars from the Register of Public Accountants if it is satisfied that —

(a) the public accountant has obtained his or her registration by fraud or misrepresentation;

(b) the public accountant has made any arrangement with his or her creditors;

(c) the public accountant no longer satisfies any of the requirements prescribed under section 10(1)(b) by virtue of which he or she was registered under this Part;

(d) for any reason, the public accountant has been censured by any professional accountancy body or organisation of which he or she is a member or with which he or she is registered, or has had his or her membership or registration with the body or organisation terminated or suspended; or

(e) the public accountant is no longer in a position to discharge the duties of a public accountant effectively.

(5)  The Oversight Committee must, before exercising its powers under subsection (4), notify the public accountant concerned of its intention to take such action and must give the public accountant an opportunity to submit reasons, within such period as the Oversight Committee may determine, as to why his or her registration should not be cancelled.

(6)  Any public accountant who is aggrieved by an order under subsection (4) may, within 30 days after being notified of the order, appeal to the Minister whose decision is final.

Publication of list of public accountants

16.  The Registrar may, from time to time, prepare and publish in such form or manner as the Oversight Committee may determine a list of the names and particulars of all public accountants.