In Singapore, the directors of the company are required to appoint an auditor within 3 months of its incorporation unless it is exempted from audit. Who are the Approved Auditors? The accounting firms or public accountants must be registered and approved by the Accounting and Corporate Regulatory Authority (ACRA) before they can be appointed to audit the company’s financial statements. The auditors are
Businesses are handling more and more personal data as technology advances make this easier each year. In response, government and legislators are continuously issuing new guidance and requirements to keep consumers informed and their data safe. Regulations vary between countries, and it can be challenging to ensure compliance when you operate in multiple jurisdictions. Below we outline some key aspects your company should note
RISK AND CRISIS MANAGEMENT IN THE COVID-19 ERA Companies are facing unprecedented times as the measures being deployed to slow the spread of the novel coronavirus (“COVID-19”) are impacting capital markets, supply chains, and business operations. The uncertainties of the current environment serve as a powerful reminder to the Management of the demand for risk management and crisis planning. WHAT TO DO WHEN
The Ministry of Manpower announced that from 1 May 2021, Dependant’s Pass (“DP”) holders who wish to work in Singapore will have to apply for a relevant work pass, instead of being able to seek employment via a Letter of Consent (“LOC”). With Singapore known as a business-friendly country, with laws and tax system which attract foreigners to live and work here, these individuals
The Employment Act of 1968 is Singapore’s primary labour legislation which governs the relationship between the employer and the employees in an organization. The main purpose of the Act is to maintain good employment standards and safeguard working conditions for employees. Employment related regulations are an important area of legal requirements that Singapore companies must follow. All businesses, in their capacity as an employer,
The tax clearance obligation for employees In the event of a termination of an employment contract with a non-Singapore Citizen employee, the employer must proceed to a tax clearance by filling the Form IR21 one month before: The employee ceases to work for you in Singapore; The employee starts an overseas posting; or The employee leaves Singapore for any period exceeding three months. In
