Singapore legislation
Clause 3
Clause 3
Amendment of section 6
Section 6 of the Accounting and Corporate Regulatory Authority Act 2004 is amended —
by deleting paragraph (b) of subsection (1) and substituting the following paragraph:“(b)to report and make recommendations to, and advise the Government on, matters relating to —
the registration and regulation of business entities and public accountants; and
the growth and development of the accountancy sector and its related fields in Singapore;”;
by inserting, immediately after paragraph (c) of subsection (1), the following paragraphs:“(ca)to oversee the strategic direction for, and promote, facilitate and assist in, the growth and development of the accountancy sector and its related fields in Singapore;
(cb)to develop, provide for or administer, or facilitate or collaborate on the development, provision or administration of, programmes, qualifications, certifications, specialisations and continuing professional developments relating to the accountancy sector and its related fields in Singapore;
to promote, develop, improve or maintain, or facilitate or collaborate on the promotion, development, improvement or maintenance of, competencies, expertise and professional standards in the accountancy sector and its related fields in Singapore;”;
by inserting, immediately after paragraph (e) of subsection (1), the following paragraphs:“(ea)to promote, facilitate or collaborate on research and development activities for the advancement of the accountancy sector and its related fields in Singapore;
(eb)to develop or manage cooperation and exchange with other persons and organisations, including foreign and international organisations, in respect of matters relating to the accountancy sector and its related fields in Singapore;”; and
by deleting the words “accounting firms and accounting corporations” in subsection (4) and substituting the words “accounting corporations, accounting firms and accounting limited liability partnerships”.