Overview
Business entities that provide public accountancy services must register with ACRA under the Accountants Act. Public accountancy services means the audit and reporting of financial statements, and performing any acts required by law to be done by a public accountant. There is no need to register a public accounting entity with ACRA if the purpose is to provide non-public accountancy services such as accounting or tax services.
There are 3 types of accounting business structures to choose from. They are:
- Public Accounting Corporation (PAC)
- Public Accounting Firms (PAF)
- Accounting Limited Liability Partnership (ALLP)
A comparison table of the different types of public accounting entities in Singapore is available here.
An ALLP is a limited liability partnership (LLP) which is registered under both the Accountants Act and LLP Act, and has to comply with both legislations. For the full requirements under the LLP Act, please refer to Setting Up an LLP.
Who Can Apply
Only public accountants or professional firms or registered filing agent (on behalf of the public accountant) can make the application to set up an Accounting LLP.
