No. S 164
Accountants Act 2004
(ACT 4 OF 2004)
Accountants
(Public Accountants)
Rules 2004
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, hereby makes the following Rules:
PART I
PRELIMINARY
Citation and commencement
1.  These Rules may be cited as the Accountants (Public Accountants) Rules 2004 and shall come into operation on 1st April 2004.
Definitions
2.  In these Rules, unless the context otherwise requires —
“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;
“accounting entity” means an accounting corporation, an accounting firm or an accounting LLP;
[S 577/2006 wef 06/10/2006]
“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;
[S 577/2006 wef 06/10/2006]
“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 experience gained 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.
Made this 1st day of April 2004.
LIM SIONG GUAN
Chairman,
Accounting and Corporate
Regulatory Authority,
Singapore.
[RCB0560B/TWS/F200301841F; AG/LEG/SL/2/2002/1 Vol. 1]