May/Jun 2021 Issue of ACRAConnect

Reminder to file: Annual Returns (AR)

Companies can file annul returns in BizFile⁺ portal or file seamlessly using accounting software jointly developed by software vendors and ACRA to automate the preparation and filing of AR with ACRA.

Singapore-incorporated companies are reminded to file annual returns by the following due date:

Find out more about filing annual returns

Register of Registrable Controllers (RORC)

All companies and Limited Liability Partnerships (LLPs) are reminded to file the information maintained in their Register of Registrable Controller with ACRA by 30 Jun 2021 to avoid penalties. This can be done at the “Update Register of Registrable Controller” transaction in BizFile+ portal. Entities that had already filed their RORC information with ACRA do not need to do so if there are no changes to the information.

Find out more the Register of Registrable Controllers (RORC)

Get business guidance with e-Advisers

To better assist aspiring business owners to navigate the process of starting, running and growing a business, the GoBusiness portal has introduced a variety of e-Advisers and online guides to help business owners start a business easily.

Business owners simply need to answer a few questions about their business for the e-Advisers to provide helpful recommendations, such as the type of business structure to set up or the licences required to run the business.

Visit website for GoBusiness

CA ANZ accountancy qualification recognised for Public Accountant registration

The Chartered Accountants Program (CA Program) of the Chartered Accountants Australia and New Zealand (CA ANZ) is now recognised as one of the accountancy qualification programmes that meets the professional examination requirement for public accountant registration. Individuals who have passed the CA Program on or after 1 Jan 2019 may apply for registration as a public accountant.

Find out more the Changes to the requirements for registration as a public accountant (PA) in the Accountants (Public Accountants) Rules

Enhancing audit quality in ASEAN

ACRA officers shared our audit inspection experiences and initiatives with about 150 delegates at the 8th ASEAN Audit Regulators Group (AARG) Inspection Workshop. The virtual workshop also saw officers from the Public Company Accounting Oversight Board (U.S.) sharing on the use of technology tools for future of audit inspection. To provide more insight on regional efforts to raise audit quality, the workshop also invited audit committee representatives from Singapore and Thailand to discuss the role of audit committees in enhancing audit quality.

ACRA's e-Newsletter for professional stakeholders

This e-newsletter is intended for general information only and should not be treated as a substitute for specific professional advice for any particular situation. While we endeavour to ensure the contents are correct to the best of our knowledge and belief at the time of writing, we do not warrant their accuracy or completeness nor accept any responsibility for any loss or damage arising from any reliance on them.

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