Singapore legislation

Regulation 20

of Payment Services Regulations 2019

Regulation 20

Auditing requirements for licensees

For the purposes of section 37(4)(c) of the Act, a report of an audit on a licensee must —

(a)

be submitted to the Authority in Form 4 —

(i)

where the licensee is a company — not later than 6 months after the end of the financial year in respect of which the audit is conducted; or

(ii)

where the licensee is a partnership, a limited liability partnership or an individual — not later than 6 months after the end of the period for which the licensee’s financial statements are made up and in respect of which the audit is conducted;

(b)

state the name and contact particulars of the auditor conducting the audit; and

(c)

be signed by the auditor conducting the audit.