Acra re-elected to board of global audit regulators' forum
SINGAPORE'S Accounting and Corporate Regulatory Authority (Acra) has been re-elected to the board of the International Forum of Independent Audit Regulators (IFIAR) for another four-year term.
The IFIAR is a global member organisation made up of independent audit regulators from 54 jurisdictions. Formed in 2006 with 18 founding members including Acra, the IFIAR's mission is to serve the public interest and enhance investor protection by improving audit quality globally.
Acra announced its re-election on Tuesday, and added that its assistant chief executive (Accounting Group), Kuldip Gill, had also been appointed to chair the IFIAR's Human Resources and Governance Committee.
The IFIAR board, established in April 2017, is responsible for developing the organisation's strategy and determining its annual operating priorities.
Acra said that, as a board member, it helps to support the IFIAR's objectives of promoting sustainable improvements in audit quality, building members' oversight capabilities and enhancing the collective impact of the audit regulatory community.
The IFIAR seeks to promote global collaboration and the sharing of experience among the audit regulators, and also actively engages the global leadership of the six largest international networks of audit firms - known as the Global Public Policy Committee (GPPC) firms, comprising BDO, Deloitte, EY, Grant Thornton, KPMG and PricewaterhouseCoopers - on initiatives to improve audit quality globally.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Besides serving on the IFIAR board, Acra is also a member of the IFIAR's Global Audit Quality Working Group, which is responsible for coordinating the IFIAR's ongoing dialogue with the GPPC firms to promote continuous improvement in audit quality, and of its Technology Task Force, which seeks to explore the audit quality impact of technology audit tools used widely around the world by the GPPC firms.
Acra's active participation in the IFIAR enables Singapore to provide its insights and raise awareness of audit quality concerns in the South-east Asia region, according to its press statement.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Barclays cuts jobs in energy transition team it only just built
Great Eastern shares jump 39% as OCBC mounts S$1.4 billion privatisation bid at S$25.60 per share
China's central bank vows to support economic recovery
Ping An sells US$50 million of HSBC shares after vote against CEO
Manulife profit beats on growth in Asia, wealth management
Hot stock: UOI surges to over 6-month high amid heavy trading