Accountants (Public Accountants) (Amendment) Rules 2024

Status:

Published in Subsidiary Legislation Supplement
on 07 Mar 2024

No. S 190

Accountants Act 2004

Accountants
(Public Accountants)
(Amendment) Rules 2024

In exercise of the powers conferred by section 64 of the Accountants Act 2004, the Accounting and Corporate Regulatory Authority, with the approval of the Minister for Finance, makes the following Rules:

Citation and commencement

1. These Rules are the Accountants (Public Accountants) (Amendment) Rules 2024 and come into operation on 8 March 2024.

Amendment of Second Schedule

2. In the Accountants (Public Accountants) Rules (R 1), in the Second Schedule —

(a)

in paragraph 2A(e), replace the full‑stop at the end with a semi‑colon;

(b)

in paragraph 2A, after sub‑paragraph (e), insert —

“(f)	the Certified Practising Accountant Program of CPA Australia (formerly known as the Australian Society of Certified Practising Accountants).”;

(c)

in paragraph 6(1)(b), replace “or (e)” with “, (e) or (f)”;

(d)

in paragraph 6A, replace sub‑paragraph (1) with —

“(1) An applicant for registration as a public accountant must pass the examination in one of the advanced audit and assurance modules mentioned in sub‑paragraph (2), if the applicant —

(a)	has, on or after 1 January 2019, passed the final examination in accountancy mentioned in paragraph 2A(b), (c), (d), (e) or (f); but
(b)	has not passed the advanced audit and assurance module in that final examination.”;

(e)

in paragraph 6A(2)(b)(iii), delete “or” at the end;

(f)

in paragraph 6A(2)(b)(iv), replace the full‑stop at the end with “; or”; and

(g)

in paragraph 6A(2)(b), after sub‑paragraph (iv), insert —

“(v)	the applicant has passed the final examination in accountancy mentioned in paragraph 2A(f), the Advanced Audit and Assurance module of the Certified Practising Accountant Program of CPA Australia.”.

Miscellaneous amendments

3. In the Accountants (Public Accountants) Rules —

(a)

above rule 14, insert —

“PART VII

MISCELLANEOUS”; and

(b)

above rule 15, delete the Part heading of Part VII.

Saving provision

4. Despite rule 2(d), paragraph 6A(1) of the Second Schedule to the Accountants (Public Accountants) Rules as in force immediately before 8 March 2024 continues to apply (as if rule 2(d) had not been enacted) to an applicant for registration as a public accountant who —

(a)

before that date, was exempted from taking an advanced audit and assurance module mentioned in paragraph 6A(1)(a) of that Schedule as in force immediately before that date by —

(i)	in the case of the final examination mentioned in paragraph 2A(b) of that Schedule — the Institute of Chartered Accountants in England and Wales;
(ii)	in the case of the final examination mentioned in paragraph 2A(c) of that Schedule — the Institute of Chartered Accountants of Scotland;
(iii)	in the case of the final examination mentioned in paragraph 2A(d) of that Schedule — the Chartered Accountants of Ireland; or
(iv)	in the case of the final examination mentioned in paragraph 2A(e) of that Schedule — the Chartered Accountants Australia and New Zealand; and

(b)

immediately before that date, was a member of the Institute of Singapore Chartered Accountants (formerly known as the Institute of Certified Public Accountants of Singapore).

[G.N. Nos. S 615/2007; S 251/2009; S 383/2010; S 211/2012; S 395/2013; S 25/2015; S 51/2015; S 840/2015; S 443/2016; S 118/2017; S 332/2017; S 680/2017; S 789/2018; S 901/2018; S 62/2020; S 172/2020; S 696/2020; S 130/2021; S 399/2021; S 911/2021; S 952/2022; S 953/2022; S 146/2023; S 211/2023; S 329/2023]

Made on 6 March 2024.

ONG CHONG TEE

Chairperson,
Accounting and Corporate Regulatory Authority,
Singapore.

[F055.001.0012.V1; AG/LEGIS/SL/2/2020/2 Vol. 5]

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