Starting September 16, accountants have to complete a new mandatory Public Practice Programme if they want to be registered as a public accountant.
Launched by the Public Accountants Oversight Committee (PAOC) of the Accounting and Corporate Regulatory Authority (ACRA) and the Institute of Certified Accountants of Singapore (ICPAS), the PPP aims to prepare prospective public accountants to successfully take on the responsibilities of public practice by covering important areas such as:
- Reinforcing professional ethics and the public interest element of public practice;
- Dealing with the commercial realities of running a public practice; and
- Implementing processes and procedures to efficiently manage resources and ensure compliance with the standards required of a public accountant and his or her firm.
The first Public Practice Programme will be held from 13 to 15 September 2010, and the course will continue on a quarterly basis. ICPAS may provide additional PPP sessions in the latter part of 2010 to facilitate registration of public accountants should there be further demand.