1 June 2009

From 1 August 2009 Singapore’s public accountants must adhere to an enhanced Code of Professional Conduct and Ethics (the Code). The enhanced Code is based on the Code of Ethics of the International Federation of Accountants (IFAC), a global benchmark for the international accounting profession. The enhanced Code provides more guidance to Public Accountants on how to apply the principles and the independence rules, and places an expectation on public accountants to pro-actively identify and eliminate potential threats to their independence.

The Accounting and Corporate Regulatory Authority (ACRA), the regulator of Singapore’s public accountants, has adopted the enhanced Code in place of the previous Code of the same name. The previous Code, prescribed in October 2002, is based on an earlier version of the IFAC Code and other international benchmarks.

Please click here further details.