Clause 19

The Oversight Committee may, by order in the Gazette, prescribe —

the code of professional conduct and ethics applicable to public accountants, accounting corporations, accounting firms and accounting LLPs; and

any standard, method, procedure or other requirement which is of a class or description specified in the Second Schedule that is to be applied by public accountants, accounting corporations, accounting firms and accounting LLPs when providing public accountancy services.(2) For the purposes of subsection (1), the Oversight Committee may adopt by reference (whether wholly or in part, and with or without modification) —

any code of professional conduct and ethics or any provision of any code of professional conduct and ethics; or

any standard, method, procedure or other requirement,(as the case may be) issued or applied by any professional accountancy body or organisation, whether in Singapore or elsewhere as in force at a particular time or from time to time (called in this section the external material).(3) Any external material adopted by reference in an order under subsection (1) is to be treated as forming part of the order.(4) Unless otherwise provided in the order, where any external material is adopted by reference as in force from time to time, every amendment to the external material that is made by the professional accountancy body or organisation that issued or applied the external material is to be treated as forming part of the order.(5) Where any external material is adopted by reference in an order under subsection (1), the Oversight Committee must give notice in the Gazette stating —

that the external material is adopted by reference and the date on which the external material is adopted by reference;

that the external material is available for inspection during normal office hours, free of charge, and the place at which the external material may be inspected;

the details of where and how the external material can be obtained, free of charge; and

if copies of the external material are available in other ways, the details of where and how the copies can be accessed or obtained.(6) Where any external material adopted by reference in an order under subsection (1) is amended, the Oversight Committee must give notice in the Gazette stating —

that there has been an amendment to the external material and the date of the amendment;

that the external material as amended is available for inspection during normal office hours, free of charge, and the place at which the external material as amended can be inspected;

the details of where and how the external material as amended can be obtained, free of charge; and

if copies of the external material as amended are available in other ways, the details of where and how the copies can be accessed or obtained.Amendment of Schedules64AB. The Authority may, with the approval of the Minister, by order in the Gazette, amend or vary the First or Second Schedule.”.