The Singapore Accountancy Commission (SAC) was a statutory body under the Ministry of Finance of the Government of Singapore.New Stat Board to Raise Accountancy Standards (17 January 2013) The Straits Times Launched on 1 April 2013,New Accounting Qualification to Replace CPA (1 April 2013) The Straits Times the SAC works to advance Singapore’s accounting sector and provides for the registration of Chartered Accountants of Singapore.Raising the Profile and Skills of Accountants Here (3 April 2013) The Straits Times
History The SAC BillSingapore Accountancy Commission Bill Singapore Parliament - Bills Introduced was read the first time on 15 November 2012 and subsequently passed during the second and third reading by the Singapore Parliament on 14 January 2013.Second Reading Speech by Mrs Josephine Teo, Minister of State for Finance and Transport on the Singapore Accountancy Commission Bill (14 January 2013) Ministry of Finance - Newsroom The formation of the SAC is one of the recommendations made in the Final Report by the committee to Develop the Accountancy Sector (CDAS) in 2010.CDAS Final Report, Recommendation 10 Singapore Accountancy Commission
Committee to Develop the Accountancy Sector (CDAS) The CDAS was formed by the Ministry of Finance in December 2008 to undertake a review of the Singapore accountancy sector and profession.Positioning Singapore as the Leading International Centre in Asia for Accountancy Services and Professionals (1 December 2008) ACRA The CDAS, chaired by Bobby Chin, chairman of the Singapore Totalisator Board and formerly managing partner of KPMG LLP Singapore, comprised members of the accounting profession, the business community, academia and the public sector. The CDAS Final Report contained 10 recommendations,The CDAS Final Report: Executive Summary Singapore Accountancy Commission which were accepted by the Ministry of Finance.Ministry of Finance Accepts Recommendations Made by the Committee to Develop the Accountancy Sector (7 May 2010) Ministry of Finance - Newsroom
After the Final Report, the CDAS was dissolved and the Pro-Tem Singapore Accountancy Council (PSAC) was formed to implement the accepted recommendations.Pro-Tem Council Set Up to Direct Overhaul of Accountancy Sector (16 July 2010) The Business TimesPro-Tem Singapore Accountancy Council Established to Implement Recommendations of the Committee to Develop the Accountancy Sector (1 September 2010) Ministry of Finance - Newsroom
Pro-Tem Singapore Accountancy Council (PSAC) The Pro-Tem Singapore Accountancy Council was formed in September 2010. Bobby Chin was the first chairman of the PSAC. Under his leadership, the PSAC laid the groundwork which led to the development of the Singapore Qualification Programme (QP) and the Singapore CFO Institute. In October 2011, Michael Lim, chairman, Land Transport Authority, took over as chairman from Mr Bobby Chin.Mr Michael Lim Choo San Appointed As Chairman of the Pro-Tem Singapore Accountancy Council (19 September 2011) Ministry of Finance - Newsroom Channel NewsAsia
Initiatives
Chartered Accountants of Singapore and the Singapore CA Qualification The Singapore CA Qualification (formerly known as Singapore Qualification Programme or Singapore QP) is an educational qualification required to be a Charted Accountant.Chartered Accountant of Singapore Singapore Accountancy CommissionMOF Announces Details of New Professional Accountancy Designation (2 April 2013) AsiaOneSingapore Prepares for a 2-tier Accounting Profession (4 April 2013) The Business TimesSingapore QP Framework Singapore Qualification Programme
Singapore CFO Institute The Singapore CFO Institute was officially launched in September 2011 at the inaugural CFO Connect.Past Events CFO Connect The Singapore CFO Institute is led by an advisory council currently chaired by Mr Chng Lay Chew, CFO, Singapore Exchange.Singapore CFO Institute Singapore Accountancy CommissionAbout Us CFO Connect
References
External links Singapore Accountancy Commission Singapore Qualification Programme Singapore CFO Institute Asia Centre of Excellence for Internal Audit Bean There Count That Ministry of Finance Singapore Government