There are many reasons for hiring accountants in Singapore. They not only provide accounting services but also bookkeeping, tax, payroll and often corporate secretarial services as well. Depending on the company, some also offer businesses solutions or human resource services as well. Some companies can also help with the application of work visas such as the Employment Pass, Personalised Employment Pass or EntrePass.
In Singapore, anyone who wishes to be registered as a public accountant under the Accountants Act has to apply to the Accounting and Corporate Regulatory Authority (ACRA), the national regulator of business entities and public accountants in Singapore. The applicant must also be a member of the Institute of Certified Public Accountants of Singapore (ICPAS). Applicants cannot be a provisional member, an honorary member or a member-in-retirement.
The ICPAS is the national accountancy body that develops, supports and enhances the integrity, status and interests of the profession. It accords the CPA Singapore designation. The Certified Public Accountant Singapore (CPA Singapore) is a professional who possess the relevant work experience in addition to a recognised accountancy qualification. It also has an education arm, SSA Global Education. It was previously known as The Singapore Accountancy Academy.
Another accountancy body in Singapore is the Association of Chartered Certified Accountants (ACCA) Singapore. This is a global accountancy body that qualifies members to be Chartered Certified Accountants, and is recognised by the European Union and the United Nations.
The Singapore Accountancy Commission is a statutory board set up in April 2013. It will launch the Singapore Qualification Programme (Singapore QP) in June 2013, to provide a high-quality and rigorous post-university pathway for the training, qualification and recognition of those aspiring to become Chartered Accountants of Singapore. Only candidates who successfully complete the Singapore QP will be eligible to register themselves as Chartered Accountants of Singapore.