The Business Times
SUBSCRIBERS

Acra, ISCA launch financial statements review exercise

Directors will get queries from Acra if non-compliance issues are uncovered

Published Thu, Jan 16, 2014 · 10:00 PM
Share this article.

[SINGAPORE] The heat has been turned up a notch for Singapore directors who submit financial statements that fall short of accounting standards.

Under a new agreement announced yesterday, the Accounting and Corporate Regulatory Authority (Acra) and the Institute of Singapore Chartered Accountants (ISCA) will review a sample of financial statements from listed companies, as well as non-listed firms - including charities - which report a large turnover and market capitalisation.

The exercise, which is to cover financial statements that have already been given a clean bill of health by auditors, is being carried out with a view to taking regulatory action against errant directors.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

New Articles

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here