With effect from 1 April 2023, the Accounting and Corporate Regulatory Authority (ACRA), the Singapore Accountancy Commission (SAC) and the Accounting Standards Council (ASC) will merge as one entity. The merged entity will take on the name of ACRA.
The merger will strengthen the effectiveness of regulation, standards-setting, and sector development by harnessing synergies across complementary accountancy-related functions.
The merged ACRA will take on SAC’s role to develop the accountancy sector. The Accounting Standards Committee to be set up by ACRA will set accounting standards for companies, charities, co-operative societies and societies in Singapore, a function now carried out by the Accounting Standards Council.
From 1 April 2023, please visit the ACRA website at www.acra.gov.sg for all information pertaining to accounting standard-setting and accountancy professional and sector development matters.