ACRA stands for the Accounting and Corporate Regulatory Authority https://www.acra.gov.sg/. It’s the national regulator for business entities, public accountants, and corporate service providers in Singapore. In short, they help ensure businesses in Singapore are operating properly and according to regulations.
Here’s a summary of ACRA’s key functions:
- Business Registration: They handle the registration of new businesses in Singapore.
- Financial Reporting: They oversee the financial reporting standards for companies, charities, and other organisations.
- Public Accountants: They regulate public accountants and ensure they meet professional standards.
- Corporate Service Providers: They regulate the corporate service providers who help businesses with registration and other compliance matters.
- Accountancy Sector Development: They work to develop and improve the accountancy profession in Singapore.
ACRA also maintains a public registry of businesses and public accountants in Singapore. This allows people to easily find information about businesses and accountants to conduct due diligence.