Who Can Become an Auditor in Singapore?

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Who Can Become an Auditor in Singapore?

Auditing plays a critical role in ensuring transparency, trust, and accountability in the financial reporting of businesses and organisations. In Singapore, the profession of auditing is highly regulated to maintain high standards and to ensure that financial statements reflect a true and fair view of a company’s financial performance and position.

If you’re considering a career as an auditor or simply want to understand who is qualified to carry out audit work in Singapore, this article will walk you through the professional requirements, qualifications, regulatory framework, and career pathways for becoming an auditor in Singapore.

1. What Is an Auditor?

An auditor is a qualified professional who independently reviews and examines the financial statements of a company to ensure accuracy, compliance with accounting standards, and legal requirements. The most common form of audit is the statutory audit, which is required for many businesses in Singapore under the Companies Act.

Auditors provide assurance that a company’s financial statements are free from material misstatements, whether due to fraud or error. Their work is crucial in maintaining investor and stakeholder confidence in the business.

2. Types of Auditors in Singapore

In Singapore, the term “auditor” typically refers to:

  • External Auditors: Professionals who perform statutory audits of financial statements for companies.

  • Internal Auditors: Employees or consultants who assess the effectiveness of internal controls, risk management, and governance processes.

  • Government Auditors: Professionals working in government agencies, such as the Auditor-General’s Office, auditing public sector entities.

This article primarily focuses on external auditors, who are appointed under the Companies Act to perform statutory audits.

3. Who Can Be Appointed as an Auditor in Singapore?

To be appointed as a public accountant who can carry out statutory audits in Singapore, one must be registered with the Accounting and Corporate Regulatory Authority (ACRA). The title “public accountant” is legally protected, and only individuals registered with ACRA are authorised to conduct audits of companies.

To qualify for registration as a public accountant, the individual must meet the following criteria:

a. Educational Qualifications

The applicant must possess a recognised degree or professional qualification in accountancy. Common qualifications include:

  • Bachelor’s degree in Accountancy from a recognised university (local or overseas)

  • Chartered Accountant (CA) Singapore qualification from the Institute of Singapore Chartered Accountants (ISCA)

  • Recognised professional accountancy qualifications such as:

    • ACCA (Association of Chartered Certified Accountants)

    • CPA Australia

    • ICAEW (Institute of Chartered Accountants in England and Wales)

    • CA ANZ (Chartered Accountants Australia and New Zealand)

Holders of foreign qualifications may need to pass a Singapore-specific module, such as the Singapore CA Qualification (SCAQ) Professional Programme, to demonstrate knowledge of local laws and practices.

b. Practical Experience

A minimum amount of relevant audit experience is required for registration. Typically, an applicant must have:

  • At least 3 years of practical experience in auditing and assurance, obtained within the last 5 years prior to the application.

  • The experience must be gained under the supervision of a registered public accountant in an ACRA-approved public accounting firm.

This experience ensures that the applicant is familiar with auditing standards, ethical guidelines, and financial reporting requirements in Singapore.

c. Completion of the Practice Monitoring Programme (PMP)

All public accountants in Singapore are subject to ACRA’s Practice Monitoring Programme (PMP). This programme assesses the quality of audit work performed by public accountants to ensure adherence to professional standards.

New applicants will need to demonstrate readiness to comply with this programme and maintain high audit quality throughout their careers.

d. Passing the Public Practice Examination (PPE)

Aspiring public accountants must pass the Public Practice Examination (PPE), which assesses knowledge in areas such as:

  • Financial Reporting Standards (FRS)

  • Singapore Standards on Auditing (SSA)

  • Ethical requirements

  • The Companies Act and other legal frameworks relevant to audit

This examination ensures that applicants have up-to-date technical knowledge and an understanding of the regulatory landscape.

4. Registration with ACRA

Once all requirements are met, an applicant can apply to ACRA to be registered as a public accountant. Upon approval, the individual is authorised to provide statutory audit services and may also become a partner or director of a public accounting corporation or accounting LLP in Singapore.

Maintaining registration requires:

  • Continuing Professional Education (CPE)

  • Compliance with ethical and professional standards

  • Renewal of registration annually with ACRA

5. Becoming a Member of ISCA

Although not mandatory for all auditors, becoming a member of the Institute of Singapore Chartered Accountants (ISCA) is highly recommended. ISCA is the national accountancy body and offers:

  • Recognition as a Chartered Accountant of Singapore (CA Singapore)

  • Professional development courses and networking opportunities

  • Access to technical resources and regulatory updates

For individuals pursuing the Singapore CA Qualification (SCAQ) pathway, ISCA membership is part of the qualification process.

6. Career Progression for Auditors

A career in auditing offers a structured path with increasing responsibility:

  • Audit Associate / Junior Auditor – Entry-level role assisting in audit fieldwork.

  • Audit Senior – Responsible for leading audit engagements and managing junior staff.

  • Audit Manager – Oversees multiple engagements, reviews work, and liaises with clients.

  • Audit Partner / Director – Takes on strategic leadership, business development, and sign-off responsibilities for audit reports.

With experience and professional growth, auditors may also transition into roles such as:

  • Chief Financial Officer (CFO)

  • Internal Audit Head

  • Risk Manager

  • Forensic Accountant

  • Consultant

7. Regulatory and Ethical Standards

Auditors in Singapore must comply with:

  • Singapore Standards on Auditing (SSA)

  • Ethics Pronouncements (EPs) issued by ISCA

  • Code of Professional Conduct and Ethics under the Accountants Act

  • Anti-money laundering and anti-corruption laws

The ethical framework helps preserve public trust in the profession and ensures objectivity, independence, and integrity in audit engagements.

8. Foreign Auditors in Singapore

Foreign auditors or firms seeking to perform audit services in Singapore must:

  • Comply with local laws and be approved by ACRA

  • Partner with or operate under a registered Singapore public accountant

  • Adhere to Singapore auditing and ethical standards

This ensures that even foreign expertise maintains local compliance and consistency.

Conclusion

Becoming an auditor in Singapore is a prestigious and regulated journey that demands both academic achievement and practical experience. Only individuals who meet the stringent requirements laid down by ACRA and demonstrate high ethical standards are allowed to be registered as public accountants authorised to conduct audits.

Whether you’re a fresh graduate aspiring to enter the profession or a mid-career professional looking to transition into audit, understanding the pathway to becoming an auditor in Singapore is the first step. As businesses continue to navigate complex financial landscapes, the role of auditors will remain crucial in promoting financial integrity and governance in Singapore’s corporate ecosystem.

Find an auditor at https://www.auditservices.sg/