Payment Systems (Oversight) Act · 2007 Revised Edition · Part V · Obligations of Operators and Settlement Institutions of Designated Payment Systems
14. Obligation of operator and settlement institution to appoint auditor
Feedback & supportAn operator and a settlement institution of a designated payment system shall appoint an auditor to audit the accounts of the operator or the settlement institution, as the case may be, and where, for any reason, that auditor ceases to act for such operator or settlement institution, the operator or settlement institution shall, as soon as practicable thereafter, appoint another auditor.
operator
“operator”, in relation to a payment system, means a person who operates the payment system;
A person shall not be qualified for appointment as an auditor under subsection (1) unless he is a public accountant who is registered or deemed to be registered under the Accountants Act (Cap. 2).[SF Act, s. 106]