First-Line Requirements In Public Accountant Registration
The Accounting and Corporate Regulatory Authority (ACRA) has laid down guidelines into applying as a registered public accountant in Singapore. The agency makes this possible under Singapore’s Accountants Act, Cap. 2.
The first step is to apply for registration via BizFile, ACRA’s online registration system for both accounting and business entities. The application is to be addressed to the Public Accountants Oversight Committee.
A non-refundable fee of S$750 is also required for the application. Apart from these, applicants need to be at least 21 years old and meets prescribed requirements regarding his or her qualifications, practical experience, and membership in any accountancy organisation: an applicant must have passed the final examination in accountancy; he or she must have at least three years of practical experience; he or she must undertake 40 hours of CPE 12 months before the date of application; he or she must complete a course on instruction on ethics and professional practise subjects; he or she must prove his or her competence in local laws by passing examinations in Singapore Company Law and Singapore Taxation and Tax Management only if the applicant has not passed final examinations on accountancy or does not have at least two years of professional practise; and the applicant must be a member of the Institute of Certified Public Accountants of Singapore (ICPAS ), excluding a provisional member, honorary member, and member-in-retirement.
The ACRA, particularly the Oversight Committee, expects applicants to fulfill the following: to vow to be of service to the public as an accountant instead of to a single individual or entity; to put up and maintain an office space at which he or she will practise his or her profession; and to make himself or herself available to carry on work on behalf of any person belonging to the general public.