Tuesday, November 15, 2011

ACRA Singapore (Accounting and Corporate Regulatory Authority Singapore)

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The Accounting and Corporate Regulatory Authority (Abbreviation: ACRA; Chinese: 会计与企业管制局; Malay: Penguasa Pengawalan Perakaunan dan Korporat ; Tamil: கணக்கியல், நிறுவன ஒழுங்குமுறை ஆணையம்) is a statutory board under the Ministry of Finance of the Singapore Government. ACRA is the national regulator of business entities and public accountants in Singapore. ACRA also plays the role of a facilitator for the development of business entities and the public accountancy profession.
For any government agency in Singapore the Company Registrar is one of the most important key personnel responsible for the company. The company registrar has a huge role to play as his responsibilities are most significant to the extent of developing Singapore’s dynamically developing economy and therefore has a very important contribution to make towards the growth of the Asian continent itself. The Accounting and Corporate Regulatory Authority (ACRA) acts as the Company Registrar in Singapore. The creation and enforcement of all regulatory and statutory requirements of all businesses and also public accountants lies in the hands of the ACRA. Therefore, it is mandatory to register all companies in Singapore with ACRA. All the companies that are incorporated must religiously follow the Accounting and Corporate Regulatory Authority of Singapore and all the rules and regulations as set by same.

Singapore’s Accounting and Corporate Regulatory Authority (ACRA) has recently released its inaugural guide book for directors called “ACRA & I – Being an Effective Director.” Singapore company registration agency, Janus Corporate Solutions, forecasts that the guidelines therein will serve to help budding and current directors avoid common pitfalls and costly mistakes, fulfil their compliance duties effectively and in turn, contribute to a stronger corporate management culture.

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