Singapore Government

Accountancy in Singapore: An Overview

Singapore’s global reputation as a trusted hub for business and finance is underpinned by our robust regulatory and corporate governance framework, one of the major pillars of which is the quality of our accountancy practices and financial reporting standards.

When it comes to growth, Singapore’s accountancy sector has also been experiencing an upward trajectory. Between 2000 and 2010, operating receipts for the sector rose at a compounded annual growth rate of about 6 percent while the export of accountancy services increased 12-fold.

As a key provider of high-level professional services, the accountancy profession is a major developer of skilled talent. Public accountancy entities alone employ more than 11,000 workers, the majority of whom are professional staff. This community is comparable to those of Singapore’s medical and legal sectors, which have about 5,000, and 10,000 professionals respectively.

Equally important are the many accountancy-trained professionals who are not employed within the accountancy sector but who play critical roles across a range of organisations and industries. These professional accountants in business can be found at every level of the corporate ladder, with many serving in leading management roles such as CFOs and senior finance executives.

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