Singapore Government

The SAC Act: A Snapshot

A look at three aspects of the SAC Act.

A Champion for Accountancy Excellence

The 10th recommendation of the Committee to Develop the Accountancy Sector (CDAS) final report was to set up the SAC in order to drive accountancy excellence in Singapore. This recommendation was met by the passing of the SAC Bill in January 2013 and the establishment of the SAC in April 2013.

As a statutory body of the Singapore government, the SAC’s mandate is to “oversee the strategic direction for, and promote, facilitate and assist in, the growth and development of the accountancy sector and its related fields in Singapore” (Part III, Section 6a). In playing this role, the SAC will seek to advance the accountancy profession and place it on a similar footing as the legal, medical, architectural and engineering professions in Singapore, all of which are championed by their respective statutory bodies.

Learn about the SAC.
Learn about the CDAS final report.

Many Partners, One Goal

One important consideration in the set-up of the SAC is how it will collaborate with professional accountancy bodies and other stakeholders in Singapore. Given the merits of a private-public partnership approach, the SAC is not a membership organisation; rather, as a statutory body, it seeks to marshall diverse resources and coordinate the efforts of relevant stakeholders such as regulators, professional bodies, industry players and academic partners. Our shared goal? To develop Singapore into a leading global accountancy hub for the Asia-Pacific region by 2020.

Learn about our stakeholders and partners.
Learn about the Singapore CA Qualification.

Designated Entity

The SAC Act appoints the Institute of Singapore Chartered Accountants (ISCA) as a Designated Entity to oversee the registration of Chartered Accountants of Singapore on behalf of the SAC.

In addition to completing the Singapore CA Qualification, candidates will be required to be a member of the Designated Entity and to meet its standards of professional conduct before they can be registered as Chartered Accountants of Singapore. As such, ISCA has the important responsibility of ensuring that Chartered Accountants of Singapore meet the highest standards of integrity, professional ethics and competence.

Read the SAC Act.
Learn about the Chartered Accountant of Singapore designation.
Learn about our stakeholders and partners.

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