The Accounting and Corporate Regulatory
Authority (ACRA) of Singapore has proposed a new Public Practice
Programme (PPP) that would be a prerequisite for registering as a
public accountant.

Under Singapore’s Accountant’s Act, every
applicant for public accountant registration must complete a course
on ethics and professional practice subjects as determined by the
ACRA’s Public Accountants Oversight Committee.

The oversight committee currently prescribes the
Institute of Certified Public Accountants of Singapore’s (ICPAS)
five-day pre-admission course. The pre-admission course is
mandatory for all applicants for ICPAS membership regardless of
whether they plan to enter public practice.


Insufficent for public practice

Following a recent review, the ICPAS decided
that while the pre-admission course fulfils ICPAS membership
requirements, it may not be sufficient for CPAs wishing to enter
public practice.

ICPAS teamed up with the Institute of
Chartered Accountants of Scotland to develop the PPP.

Important areas the proposed PPP addresses

  • Reinforcing professional ethics and the public
    interest element of public practice;
  • Dealing with the commercial realities of
    running a public accountancy practice; and,
  • Implementing the right processes and procedures
    to efficiently manage resources and ensure compliance with the high
    standards required of a public accountant and his or her firm.

Practical details of the course include:

  • A three-day duration;
  • Conducted as a participative style
  • Including case studies and discussions;
  • No formal exam.

The deadline for submissions on the proposed
PPP is 17 May.

ICPAS hopes to offer the course from August
2010. It has been proposed the PPP will become a compulsory
requirement for registration as a public accountant on or after 25
August 2010.