Be aware of financial surveillance

OVER the last few months, many directors have received letters from the Accounting and Corporate Reporting Authority (ACRA) enquiring about their companies' financial accounts. These letters are part of ACRA's Financial Reporting Surveillance Programme (FRSP).

Around since 2011, the FRSP has been enhanced in the last year and is now directly engaging directors on issues relating to their accounts. It was therefore timely that ACRA shared its findings and observations from the enhanced programme at the ACRA-SGX-SID Audit Committee Seminar last month.

What is the FRSP?

Under the FRSP, ACRA selects, on an annual basis, listed and unliste…