Singapore legislation
Section 5
Section 5
Functions and powers of Oversight Committee
(1)
The Oversight Committee is to assist the Authority in the discharge of the Authority’s functions under section 3 and, in so doing, is to —
keep and maintain —
a Register of Public Accountants;
a Register of Public Accounting Corporations;
a Register of Public Accounting Firms; (iv)a Register of Public Accounting Limited Liability Partnerships; and
any other registers that may be necessary for the purposes of this Act;
consider and, as appropriate, grant (whether unconditionally or subject to such conditions as it thinks fit) or reject —
all applications for registration made under Part 3; and
all applications for approval under Part 4;
assist the Authority in determining, prescribing and reviewing the requirements to be satisfied by individuals seeking to be registered as public accountants under Part 3;
conduct or arrange for the conduct of such examinations as it thinks necessary for the purposes of registering public accountants;
administer the continuing professional education programmes for public accountants;
administer the practice monitoring programmes under Part 5;
assist the Authority in determining, prescribing and reviewing —
the codes of professional conduct and ethics for public accountants; and
the standards, methods and procedures to be applied by public accountants when providing public accountancy services;
inquire into —
any complaint against any public accountant, accounting corporation, accounting firm or accounting LLP; or
any information relating to any professional misconduct on the part of any public accountant, accounting corporation, accounting firm or accounting LLP,and, if necessary, institute disciplinary proceedings in accordance with Part 6;
advise the Authority on any matter which relates to the profession of public accountancy; and
generally do all such acts, matters and things as are necessary to be carried out, or which the Oversight Committee is authorised to carry out, under this Act.
(2)
The registers referred to in subsection (1)(a) may be kept in such form or manner as the Oversight Committee may determine.
(3)
Subject to any general or special direction given by the Authority, the Oversight Committee has the power to do anything for the purpose of discharging its functions under this Act, or which is incidental or conducive to the discharge of those functions.