New Programme for CPAs Up Standards for Singapore Business Setups
Online, August 18, 2010 (Newswire.com) - From 16 September 2010, those who wish to register as a public accountant are required to complete a new Public Practise Programme (PPP), recently launched by the Public Accountants Oversight Committee (PAOC) of the Accounting and Corporate Regulatory Authority (ACRA) and the Institute of Certified Accountants of Singapore (ICPAS).
The inaugural programme will be conducted from 13 to 15 September 2010, with the course running on a quarterly basis.
ICPAS said that they might provide additional PPP sessions in the latter part of 2010 to facilitate registration of public accountants if there are further demands.
The PPP, designed by ICPAS in consultation with ACRA, aims to prepare prospective public accountants to successfully take on the responsibilities of public practice.
The programme covers areas such as professional ethics, the public interest and commercial realities of running a public practice, and ensure compliance standards within the public practice.
Director of Rikvin Consultancy Services, Mr James Nuben said the programme would help increase and maintain the high standards of accountancy in Singapore, and encourage new Singapore business setups to ensure their bookkeeping is on par, too.
"The business world is dynamic and constantly changing. The PPP shows that the relevant authorities can move along with the progressive economy and adjust its services accordingly," said Mr Nuben.
Rikvin Consultancy specialises in Singapore company incorporation, business accounting services, Singapore business setup, as well as employment pass (EP) and entrepass application.
PPP is introduced following the feedback of a public consultation exercise conducted by ACRA and ICPAS in April and May 2010, in which respondents expressed positive support for the programme.
Chief Executive of ACRA, Ms Juthika Ramanathan said: "Accountants who decide to register as a public accountant and enter public practice in their own right take on an important public responsibility."
She added that the PPP aims to help public accountants successfully fulfill their responsibility by providing practical insights about planning a professional and ethical
practice.
"The PPP is in line with the Institute's strategic aims of Accountancy excellence, Industry growth and Member & human capital development (AIM)," said the president of ICPAS, Dr Ernest Kan.
Dr Kan also said that the programme will be an important channel for aspiring public accountants to understand the expectations and requirements of public practice and manage the challenges of the profession with integrity and professionalism.
"With the PPP, would-be public accountants will be more prepared for the challenges of public practice."
"New Singapore company incorporations and business registrations will also benefit greatly from these efforts to keep up the efficiency standard of administration by the governments," added Mr Nuben.
ICPAS developed the PPP jointly with the Institute of Chartered Accountants of Scotland (ICAS), the oldest accounting body in the world.
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