SINGAPORE The accounting industry watchdog will re-evaluate the sectors regulatory framework in a bid to keep pace with the changing business environment and maintain standards.
The Accounting and Corporate Regulatory Authority (Acra) review will likely take some time, given the need to engage with key stakeholders and conduct public consultations before proposals are made to amend the law.
We will provide more information when ready, an Acra spokesman said.
The review was flagged by Finance Minister Lawrence Wong during a speech at the Institute of Singapore Chartered Accountants (ISCA) 60th anniversary dinner on Tuesday.
We cannot afford to allow our standards in Singapore slip, he said, noting that this was why he had asked Acra to …
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