Accounting and Corporate Regulatory Authority
(ACRA)
| Other names | ACRA |
|---|---|
| Status | Active |
| Type | Statutory board under the Ministry of Finance |
| Purpose | National regulator of business registration, financial reporting, public accountants and corporate service providers. |
| Legislation | Accounting and Corporate Regulatory Authority Act 2004 |
| Leadership | |
| Chairman | Ong Chong Tee |
| Chief Executive | Chia-Tern Huey Min |
| Organisation | |
| Formed | 1 April 2004 (22 years ago) |
| Parent ministry | Ministry of Finance |
| Headquarters | 55 Newton Road, #03-02 Revenue House, Singapore 307987 |
| Region served | Singapore |
| UEN | T08GB0001G |
| External links | |
| Website | Official website |
The Accounting and Corporate Regulatory Authority (ACRA) is a statutory board under the Ministry of Finance of the Government of Singapore. It is the national regulator of business registration, financial reporting, public accountants and corporate service providers, and is responsible for developing the accountancy sector and setting accounting standards for companies, charities, co-operative societies and societies in Singapore.[1]
ACRA was formed on 1 April 2004 under the Accounting and Corporate Regulatory Authority Act, through the merger of the Registry of Companies and Businesses (RCB) and the Public Accountants' Board (PAB). The merger was intended to bring together the monitoring of companies' compliance with disclosure requirements and the regulation of public accountants performing statutory audit.[1]
Functions
ACRA administers the registration of companies, businesses, limited liability partnerships and other business entities in Singapore, and maintains the public register of such entities. It regulates public accountants and public accounting firms, oversees corporate service providers, and sets and monitors financial reporting and accounting standards. Its public-facing registry and filing services are provided through the Bizfile portal.
Leadership
As of 2024, the Chief Executive of ACRA is Chia-Tern Huey Min, who was appointed on 22 April 2024, succeeding Ong Khiaw Hong.[2]
| Chief Executive | Term |
|---|---|
| Juthika Ramanathan | 1 April 2004 – 31 January 2013 |
| Kenneth Yap | 1 February 2013 – 31 March 2017 |
| Ong Khiaw Hong | 1 April 2017 – 21 April 2024 |
| Chia-Tern Huey Min | 22 April 2024 – present |
Notable incidents
2018 rejection of OSEA Pte Ltd registration
On 11 April 2018, ACRA rejected an application to register a private company, OSEA Pte Ltd, on the grounds that the registration would be "contrary to Singapore's national interests".[3] The application had designated historian Thum Ping Tjin as Director and activist Kirsten Han as Editor-in-Chief, and was linked to the website New Naratif. ACRA characterised the proposed company's purposes as political in nature and objected to its indirect foreign funding; Thum, Han and New Naratif rejected the characterisation. Thum's appeal was rejected by Finance Minister Heng Swee Keat on 28 September 2018. The rejection was later cited by Minister for Home Affairs and Law K. Shanmugam during the 2021 debate on the Foreign Interference (Countermeasures) Act.
2024 Bizfile NRIC disclosure
On 9 December 2024, ACRA launched a revamped Bizfile portal whose "People Search" function displayed the full National Registration Identity Card (NRIC) numbers of individuals, without authentication or payment. Following public concern first raised on 12 December 2024 by former journalist Bertha Henson, the function was disabled on the night of 13 December 2024. A government review panel led by Head of Civil Service Leo Yip subsequently found no deliberate wrongdoing but identified multiple shortcomings by ACRA and the Ministry of Digital Development and Information (MDDI); its report was released on 3 March 2025 and the subject of a ministerial statement by Senior Minister Teo Chee Hean on 6 March 2025.
See also
- Bizfile NRIC disclosure controversy
- OSEA Pte Ltd registration rejection
- Ministry of Finance
- Ministry of Digital Development and Information
References
- ↑ 1.0 1.1 Accounting and Corporate Regulatory Authority, "About ACRA", https://www.acra.gov.sg
- ↑ Vivienne Tay, "Acra names new chief executive; Ong Khiaw Hong to retire from public service", The Business Times, 22 November 2023, https://www.businesstimes.com.sg/companies-markets/acra-names-new-chief-executive-ong-khiaw-hong-retire-public-service
- ↑ "In Full: Acra's statement on rejection of Thum Ping Tjin and Kirsten Han's application to set up company said to be 'contrary to Singapore's national interests'", Channel NewsAsia, 11 April 2018, https://www.channelnewsasia.com/singapore/in-full-acras-statement-rejection-thum-ping-tjin-and-kirsten-hans-application-set-up-company-said-be-contrary-singapores-national-interests-5736006