Accountants Act
(CHAPTER 2, Section 64)
Accountants
(Public Accountants)
Rules
R 1
G.N. No. S 164/2004

REVISED EDITION 2006
(30th November 2006)
[1st April 2004]
PART I
PRELIMINARY
Citation
1.  These Rules may be cited as the Accountants (Public Accountants) Rules.
Definitions
2.  In these Rules, unless the context otherwise requires —
“accounting entity” means an accounting corporation, an accounting firm or an accounting LLP;
“approved principal” means a public accountant who —
(a)has at least 5 years’ post-qualifying experience in public practice or in any other organisation recognised by the Oversight Committee; and
(b)undertakes the supervision of pupils in accordance with the Second Schedule,
and includes —
(i)the Commissioner of Inland Revenue or any senior officer designated by him, in relation to structured practical experience in taxation;
(ii)the Accountant-General or any senior officer designated by him, in relation to structured practical experience in accounting; and
(iii)the Auditor-General or any senior officer designated by him, in relation to structured practical experience in auditing;
“public practice” means practice as a public accountant in the capacity of a sole proprietor, a partner in an accounting firm or a corporate practitioner in an accounting corporation or an accounting LLP;
“pupil” means a person who is under the supervision of an approved principal for the purpose of acquiring structured practical experience;
“Register” means the Register of Public Accountants;
“structured practical experience” means structured practical experience under an approved principal in the Accounting Service, the Auditing Service, the Inland Revenue Service, in a public accountant’s office or in any other organisation recognised by the Oversight Committee.