Singapore Government

The SAC Act

The SAC Act provides a critical framework for the growth and development of accountancy excellence in Singapore.

The SAC Bill received its first reading in Parliament in November 2012. Following its 2nd reading in January 2013, the bill was passed, leading to the establishment of the SAC, a statutory body of the Singapore government, in April 2013.

The SAC Act has two broad components. Parts II to VI establish the SAC and codify its functions and powers. Chief among these is the responsibility of overseeing the strategic direction for the advancement of Singapore’s accountancy sector.

...the setting up of the SAC is an important milestone in the transformation of our accountancy sector, but the road ahead is still quite long. We will need to work hard and stay focused to ensure the rigour of the Singapore Qualification Programme and build up the professional standing of our Chartered Accountants... While ambitious, I believe that we can achieve this goal together if we have the support of all stakeholders.

Mrs Josephine Teo 
Minister of State for Finance and Transport, 
14 January 2013

Part VII of the SAC Act introduces and protects the use of the Chartered Accountant of Singapore designation, setting out provisions related to the registration of holders of this designation. The new designation will be awarded to candidates who complete the Singapore CA Qualification (formerly known as the Singapore Qualification Programme or Singapore QP), a professional accountancy qualification launched in June 2013. This part of the SAC Act also lists the role and responsibilities of the Institute of Singapore Chartered Accountants (ISCA) as a Designated Entity.

Read the SAC Act.
Learn about the Singapore CA Qualification.
Learn about our stakeholders and partners.

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