/akn/sg/act/sub_leg/2004/AA-S327-2023

Accountants (Prescribed Standards and Code of Professional Conduct and Ethics) Order 2023

The full official text, structured for quick navigation. Copy any provision or jump straight to a section.

Type: Subsidiary Legislation
Status: In force
Enacted: 2004
Sections: 5

Quick answer

About this subsidiary legislation

Accountants (Prescribed Standards and Code of Professional Conduct and Ethics) Order 2023 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation AA-S327-2023 2004, currently marked in force and first recorded in 2004.

Regulation 1

Citation and commencement

This Order is the Accountants (Prescribed Standards and Code of Professional Conduct and Ethics) Order 2023 and comes into operation on 1 July 2023.

Regulation 2

Definitions

Amended byS 202/2026 wef 06/05/2026

In this Order —“accounting entity” has the meaning given by section 2(1) of the Act;“professional standards” has the meaning given by section 32 of the Act;“quality control standards” has the meaning given by section 38B of the Act.

Definition

“accounting entity” has the meaning given by section 2(1) of the Act;

Amended byS 202/2026 wef 06/05/2026

Definition

“professional standards” has the meaning given by section 32 of the Act;

Definition

“quality control standards” has the meaning given by section 38B of the Act.

Regulation 3

Prescribed professional standards

Subregulation 1

For the purposes of the definition of “professional standards” in section 32 of the Act, the prescribed standards are —

(a)

where public accountancy services are provided to a permitted entity —

(i)

the Singapore Standards on Auditing issued by the Institute of Singapore Chartered Accountants specified in the First Schedule; or

(ii)

the International Standards on Auditing issued by the International Federation of Accountants specified in the Second Schedule; or

(b)

where public accountancy services are provided to any other entity — the Singapore Standards on Auditing issued by the Institute of Singapore Chartered Accountants specified in the First Schedule.

Subregulation 2

In this paragraph —

Definition

“corporation” has the meaning given by section 4(1) of the Companies Act 1967;

Definition

“entity” means any sole proprietorship, corporation, partnership or other body of persons (whether corporate or incorporate) and includes a trust;

Definition

“permitted entity” means any entity that is —

(a)

incorporated, formed, registered or established in Singapore and listed on a stock exchange outside Singapore; or

(b)

incorporated, formed, registered or established outside Singapore and whose shares or stock are quoted or listed on a stock exchange operated by Singapore Exchange Limited.

Regulation 4

Prescribed quality control standards

For the purposes of the definition of “quality control standards” in section 38B of the Act, the prescribed standards are the following standards issued by the Institute of Singapore Chartered Accountants specified in the Third Schedule:

(a)

Singapore Standards on Quality Control specified in Part 1 of that Schedule;

(b)

Singapore Standards on Quality Management specified in Part 2 of that Schedule.

Regulation 5

Prescribed code of professional conduct and ethics

The code of professional conduct and ethics prescribed for the purpose of section 64AA(1)(a) of the Act is the Code of Professional Conduct and Ethics applicable to public accountants and accounting entities set out in the Fourth Schedule.

Common questions

What is Accountants (Prescribed Standards and Code of Professional Conduct and Ethics) Order 2023?: Accountants (Prescribed Standards and Code of Professional Conduct and Ethics) Order 2023 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation AA-S327-2023 2004, currently marked in force and first recorded in 2004.
Is Accountants (Prescribed Standards and Code of Professional Conduct and Ethics) Order 2023 still in force?: Yes — Accountants (Prescribed Standards and Code of Professional Conduct and Ethics) Order 2023 is currently in force.
When did Accountants (Prescribed Standards and Code of Professional Conduct and Ethics) Order 2023 take effect?: Accountants (Prescribed Standards and Code of Professional Conduct and Ethics) Order 2023 was first recorded in 2004.
How many regulations does Accountants (Prescribed Standards and Code of Professional Conduct and Ethics) Order 2023 have?: Accountants (Prescribed Standards and Code of Professional Conduct and Ethics) Order 2023 contains 5 regulations.
Where can I read the official version of Accountants (Prescribed Standards and Code of Professional Conduct and Ethics) Order 2023?: The official text of Accountants (Prescribed Standards and Code of Professional Conduct and Ethics) Order 2023 is published at sso.agc.gov.sg.