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Lax scrutiny, over-reliant directors behind improper financial statements: Acra

It completes its review of statements under expanded surveillance programme

"Directors as company stewards have a statutory responsibility to apply the right accounting standards in financial reporting," Acra chief executive Kenneth Yap said in a statement.


DIRECTORS from four out of 49 listed companies received warnings after the Accounting and Corporate Regulatory Authority (Acra) completed its first review of financial statements under an expanded surveillance programme, the regulator announced on Thursday.