Regulation 1
Citation
These Rules may be cited as the Accountants (Accounting Corporations, Accounting Firms and Accounting LLPs) Rules.
/akn/sg/act/sub_leg/2004/AA-R5
Accountants (Accounting Corporations, Accounting Firms and Accounting LLPs) Rules
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
- 9
Quick answer
About this subsidiary legislation
Accountants (Accounting Corporations, Accounting Firms and Accounting LLPs) Rules is Singapore Subsidiary Legislation, cited as Subsidiary Legislation AA-R5 2004, currently marked in force and first recorded in 2004.
Regulation 2
Form and application for approval
Amended byS 681/2017 wef 01/12/2017S 681/2017 wef 01/12/2017S 681/2017 wef 01/12/2017
Subregulation 1
Amended byS 681/2017 wef 01/12/2017S 681/2017 wef 01/12/2017S 681/2017 wef 01/12/2017
The following applications shall be made to the Oversight Committee in such form or manner as may be determined by the Registrar: (a)any application for approval as an accounting corporation, an accounting firm or an accounting LLP under section 17(1)(a), 18(1)(a) or 18A(1)(a) of the Act, respectively; (b)any application for approval of the name or proposed name of an accounting corporation, an accounting firm or an accounting LLP under section 17(1)(b), 18(1)(b) or 18A(1)(b) of the Act, respectively; (c)any application for approval of a change in the name of an accounting corporation, an accounting firm or an accounting LLP under section 19(4) of the Act.
Subregulation 2
The Oversight Committee may, for the purposes of determining whether to approve any application referred to in paragraph (1)(a), require the applicant to submit such particulars or documents as the Oversight Committee deems necessary.
Regulation 3
Fees
Amended byS 954/2022 wef 15/12/2022S 954/2022 wef 15/12/2022S 954/2022 wef 15/12/2022
Subregulation 1
Amended byS 954/2022 wef 15/12/2022
The fees specified in the First Schedule shall be payable in such manner as the Registrar may determine for the purposes specified therein.
Subregulation 2
Amended byS 954/2022 wef 15/12/2022
The Registrar may for any reason waive, refund or remit, whether wholly or in part, any fee specified in the First Schedule.
Subregulation 3
Amended byS 954/2022 wef 15/12/2022
Despite paragraph (2), no fee paid is refundable in respect of the withdrawal of any application.
Regulation 3A
Repealed / deleted
[Deleted by S 945/2024 wef 09/12/2024]
Regulation 4
Appeals against refusal to approve
An appeal under section 20 of the Act against a decision of the Oversight Committee shall —
(a)
be addressed to the Permanent Secretary to the Ministry of Finance; (b)set out the grounds of appeal; and (c)be accompanied by a copy of the following documents: (i)the decision of the Oversight Committee and the reasons therefor; (ii)the relevant application referred to in rule 2 and all documents accompanying that application; and (iii)any other correspondence between the Oversight Committee and the appellant in relation to the decision of the Oversight Committee.
Regulation 5
Annual report
The annual report referred to in section 26(3) of the Act shall contain the particulars set out in the Second Schedule.
Regulation 6
Constitution
Amended byS 839/2015 wef 03/01/2016
The constitution of an accounting corporation must provide for the matters specified in the Third Schedule.
Regulation 7
Notification of transfer of business of accounting firm to accounting corporation
Amended byS 839/2015 wef 03/01/2016S 191/2024 wef 31/12/2021
Subregulation 1
Every accounting firm which intends to transfer its business to an accounting corporation shall, no later than 7 days before the transfer, give notice in writing to every client of the accounting firm of the intention to transfer its business.
Subregulation 2
Amended byS 839/2015 wef 03/01/2016S 191/2024 wef 31/12/2021
The notice given under paragraph (1) has effect as if it were a notice of resignation within the meaning of section 205AA(1) or 205AB(1) of the Companies Act 1967, as the case may be.
Regulation 8
Notification of transfer of business of accounting firm or accounting corporation to accounting LLP
Subregulation 1
Where the business of an accounting firm or accounting corporation is to be transferred to an accounting LLP, notice in writing shall be given to every client of the accounting firm or accounting corporation of the transfer and of the date of the transfer —
(a)
by the accounting firm or accounting corporation intending to transfer the business to the accounting LLP at any time before the date of the transfer; or (b)by the accounting LLP to which the business of the accounting firm or accounting corporation is transferred no later than 7 days after the transfer.
Subregulation 2
The notice given under paragraph (1) shall state that, with effect from the date of the transfer —
(a)
the accounting LLP replaces the accounting firm or accounting corporation, as the case may be, in the provision of public accountancy services to the client; (b)any document held by the accounting firm or accounting corporation, as the case may be, for or on behalf of the client is transferred to the accounting LLP to be held for or on behalf of the client; and (c)any money or funds held by the accounting firm or accounting corporation, as the case may be, for or on account of the client is transferred to the accounting LLP to be held for or on account of the client.
Common questions
- What is Accountants (Accounting Corporations, Accounting Firms and Accounting LLPs) Rules?
- Accountants (Accounting Corporations, Accounting Firms and Accounting LLPs) Rules is Singapore Subsidiary Legislation, cited as Subsidiary Legislation AA-R5 2004, currently marked in force and first recorded in 2004.
- Is Accountants (Accounting Corporations, Accounting Firms and Accounting LLPs) Rules still in force?
- Yes — Accountants (Accounting Corporations, Accounting Firms and Accounting LLPs) Rules is currently in force.
- When did Accountants (Accounting Corporations, Accounting Firms and Accounting LLPs) Rules take effect?
- Accountants (Accounting Corporations, Accounting Firms and Accounting LLPs) Rules was first recorded in 2004.
- How many regulations does Accountants (Accounting Corporations, Accounting Firms and Accounting LLPs) Rules have?
- Accountants (Accounting Corporations, Accounting Firms and Accounting LLPs) Rules contains 9 regulations.
- Where can I read the official version of Accountants (Accounting Corporations, Accounting Firms and Accounting LLPs) Rules?
- The official text of Accountants (Accounting Corporations, Accounting Firms and Accounting LLPs) Rules is published at sso.agc.gov.sg.