Jul/Aug 2025 Issue of ACRAConnect

JUL / AUG 2025

Marking a Milestone with the 10th CSIS CSP Conference

ACRA was delighted to participate in the milestone 10th Corporate Service Providers (CSPs) Conference, organised by the Chartered Secretaries Institute of Singapore (CSIS) on 12 August 2025. The event saw a strong turnout of approximately 450 attendees, including CSIS Council members, CSPs, accountants, and lawyers.

ACRA Chief Executive Mrs Chia-Tern Huey Min delivered the opening address, where she highlighted how the newly implemented CSP Act marks a new chapter in Singapore’s regulatory framework for the sector. She emphasised the integral role played by CSPs as gatekeepers in maintaining the integrity of Singapore’s business landscape.

During a fireside interview with Mr Raymond Lam, Chairman of the CSIS CSPs Taskforce, Mrs Chia-Tern

shared ACRA’s vision for Bizfile as a business enabler. She also discussed how CSPs can contribute to strengthening the corporate ecosystem by enhancing risk management, developing people and professional competencies, and adopting new technologies.

ACRA’s Deputy Chief Executive Mr Leong Weng Tat and Mr Dave Yeo, Director of the Compliance Policy & Analytics Department, also took part as panellists in discussions on Anti-Money Laundering and Countering the Financing of Terrorism prevention, nominee directorship obligations, and emerging corporate governance challenges.

ACRA remains committed to working closely with the CSP sector to uphold Singapore’s reputation as a trusted place to do business.

Cultivating Tomorrow’s Accountants at ACCtraordinary 2025

For the first time, ACRA was the joint organiser for ACCtraordinary 2025 – an annual outreach initiative that showcases the exciting career opportunities in the accountancy sector. This year’s edition, held at Ngee Ann Polytechnic on 4 August, brought together over 370 students and educators from 19 secondary schools and Institutes of Higher Learning to discover the evolving roles of accountants.

The Guest-of-Honour, Second Minister for Finance Ms Indranee Rajah, highlighted that accountants remain in high demand, and play a crucial role in shaping our economic landscape, including in areas such as sustainability reporting.

This year’s event was themed “The Accounting Revolution: Innovating the Industry” and featured interactive games and exhibits, where participants discovered how accountants use digital tools to solve complex problems and drive innovation. Participants also gained valuable insights from industry leaders and had the opportunity to network with accountancy professionals and student ambassadors.

Find out more about accountancy as a career

Shaping the Future of Corporate Registries at the SSM Conference 2025

At the Suruhanjaya Syarikat Malaysia (SSM) Conference 2025 held in Kuala Lumpur on 19 August, regional leaders from Malaysia, Philippines and Singapore discussed how corporate registries are evolving to meet new challenges. The focus was on balancing robust regulation with the need for business-friendly digital innovation. ACRA’s Deputy Chief Executive, Mr Leong Weng Tat, shared in a plenary session, on Singapore’s proactive approach in dealing with evolving corporate registry challenges and creating a safer, more transparent business environment.

These include the introduction of the Corporate Service Providers Act, tightening regulations around nominee directors, and utilising advanced analytics to detect risks and combat financial crimes. With integrated digital systems and real-time compliance tools, Singapore is making it easier for businesses to operate while ensuring the highest standards of transparency and security.

SSM, also known as the Companies Commission of Malaysia, is Malaysia’s corporate registry and regulatory authority.

New Guidance to Support Business Valuation Professionals in ESG Information Gathering

The American Society of Appraisers (ASA), Chartered Business Valuators (CBV) Institute, Institute of Valuers and Appraisers, Singapore (IVAS), and Royal Institution of Chartered Surveyors (RICS) jointly released a publication in July to provide guidance to business valuation professionals in gathering Environmental, Social, and Governance (ESG) information during the valuation process.

The joint publication responds to the growing demand for business valuation professionals to consider ESG-related risks and opportunities that can significantly impact a company’s value. It aims to assist business valuation professionals in their assessments of risks and opportunities, and in gathering relevant ESG information from companies to enhance the robustness and quality of valuations.

Read the publication about guidance for the Business Valuation Professional 2025

ACRA Shares Insights on Beneficial Ownership Transparency at Regional Anti-Corruption Conference

ACRA contributed to the Third International Conference on Anti-Corruption Innovations in Southeast Asia held in August at the Thailand Institute of Justice in Bangkok. Assistant Chief Executive Mr Hans Avinder participated in a session titled ‘Beneficial Ownership Transparency & Emerging Technologies – Uncovering Hidden Company Ownership to Stop Corruption at the Root’ alongside fellow speakers from the United Nations Office on Drugs and Crime and Open Ownership.

He shared ACRA’s phased approach to implementing Singapore’s Beneficial Ownership (BO) register, the practical challenges involved and the technologies we have been leveraging to support Singapore’s efforts to combat the misuse of legal persons.

Beneficial ownership transparency remains a cornerstone of ACRA’s efforts to maintain integrity in the business ecosystem and uphold Singapore’s reputation as a trusted place to do business.

Empowering SMEs for a Sustainable Future

ACRA has partnered with Singapore Polytechnic to launch the “HR Learning Journey: Building Companies of Good – Planet Edition”. This initiative aims to support Singapore businesses in advancing sustainability and human capital development. By focusing on the 3Ps—Profit, People, and Planet, this initiative helps businesses to become future-ready and thrive in the Green Economy.

ACRA’s Assistant Chief Executive Ms Kuldip Gill joined Singapore Polytechnic’s Senior Director of Business & Creatives Cluster and Director of Industry & Partnerships Ms Tan Yen Yen in the opening message on video to encourage and guide SMEs through their sustainability transformation. This augments our efforts to grow capabilities in sustainability reporting, building on the recent launch of ACRA’s Sustainability Reporting Body of Knowledge (SR BOK), which provides a framework for training providers developing quality programmes in this field.

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.

Copyright © 2025 Accounting and Corporate Regulatory Authority. All Rights Reserved.

Subscribe

www.acra.gov.sg