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 that businesses in Singapore are operating properly and in accordance with 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 corporate service providers that assist 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.
