Ong Chong Tee to succeed Tan Ching Yee as Acra chairman starting Jul 1

WITH effect from Jul 1, deputy chairman Ong Chong Tee will become the Accounting and Corporate Regulatory Authority (Acra) board’s new chairman, succeeding outgoing chairman Tan Ching Yee, said the Ministry of Finance on Wednesday (Jun 22).

The new appointment comes more than 4 years after Tan was first appointed chairman of the statutory board in April 2018.

During her term, Tan led the Acra board in reviewing the strategic direction for Acra, embarking on a multi-year transformation plan to accelerate Acra’s shift from information provider to business enabler, the ministry wrote in a press statement.

“Under Mrs Tan’s stewardship, Acra has reviewed various policies and implemented initiatives to improve the ease of doing business, reduce compliance burden, and strengthen public confidence in audit and financial reporting. With her strong support, Acra also strengthened its capabilities in data analytics and digital technologies as well as sustainability reporting and assurance,” the ministry added.

Prior to to his appointment, Ong served as the statutory board’s deputy chairman for more than a year. He is also currently a member of the GIC Risk Committee.

Before joining Acra, Ong held senior positions at the Monetary Authority of Singapore from 1986 to 2021, leading the organisation in the areas of reserve management, central banking monetary operations and market development. 

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The Ministry believes that Ong’s appointment will guide Acra in “continuing to provide a trusted and vibrant business environment in Singapore”.

“The Ministry of Finance and Acra welcome Mr Ong and would like to express their deep appreciation to outgoing chairman, Mrs Tan Ching Yee, for her valuable contributions to the Board,” said the ministry.