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Be aware of financial surveillance

Directors who receive ACRA's letters of enquiry about their firms' financial accounts must provide complete responses without delay.

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Although responding to ACRA's enquiry letters will take time, directors should treat the exercise as an opportunity to review and improve their companies' financial reporting functions.

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