Financial Reporting Surveillance Programme (FRSP)
Find out what directors need to do under the FRSP and what to expect when ACRA reviews your financial statements.
Last updated 31 January 2026
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What is the FRSP
ACRA selects and reviews financial statements to ensure they comply with the accounting standards through the FRSP.
We also work with professional bodies to build the competency of directors and preparers of financial statements.
Why this matters
High-quality financial reporting builds trust in Singapore's capital market and economy. It is a requirement for all entities in Singapore's financial ecosystem, including local companies and foreign entities listed on the Singapore Exchange.
ACRA's financial reporting surveillance helps to:
Maintain high financial reporting standards
Protect investors
Uphold market integrity
Singapore companies
Key details: Singapore companies
What you need to know | Details |
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Directors' responsibilities | As a director, you need to prepare and present annual financial statements that comply with the prescribed accounting standards in Singapore. This provides stakeholders with reliable and comparable information for decision-making. More details: Sections 201(2) and 201(5) of the Companies Act 1967 |
What to expect | We will enquire with you if it appears that your financial statements do not comply with the accounting standards. If ACRA finds non-compliance with the accounting standards, we will issue findings letters to inform you on the non-compliance. You should address these findings in future financial statements. If needed, we may ask you to take remediation actions (such as revising past financial statements). In serious cases, we may:
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Other SGX-listed issuers
From 26 August 2025, we included other SGX-listed issuers in our financial reporting surveillance for compliance with the accounting standards.
This enhances regulatory oversight to maintain market integrity and investor confidence across all entities raising funds from the public in Singapore.
Singapore companies
What you need to know | Details |
|---|---|
Additional types of entities included | Other SGX-listed issuers include:
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What to expect | When we review your financial statements, we may:
If ACRA finds material non-compliances with accounting standards, we may inform the:
Regulatory cooperation details: MAS Enforcement Monograph |
Resources to help you comply
FRSP reports
Learn about common financial reporting mistakes and how to apply accounting standards correctly.
Financial reporting practice guidance
Get practical guidance and learn how to meet your financial reporting obligations as a company or director in Singapore.
ACRA academy eLearning portal
Free and paid courses for company directors, entrepreneurs, registered filing agents, and more.