Something changed quietly on 6 May 2026 that will affect every Singapore company that goes through a statutory audit. With the commencement of selected provisions of the Corporate and Accounting Laws (Amendment) Act 2025, every statutory audit report of a Singapore-incorporated company must now identify — by name — the public accountant who was primarily responsible for the audit engagement.

Previously, audit reports were signed and issued in the name of the accounting firm. The individual partner leading the audit remained anonymous to the public, to shareholders, and often even to board members who never thought to ask. That era is now over.

What the New Rule Says

Under the Corporate and Accounting Laws (Amendment) Act 2025, the Accountants Act 2004 has been amended to require that every statutory audit report name the public accountant who was primarily responsible for carrying out the audit on behalf of the firm. This person is commonly referred to as the “engagement partner.”

The requirement applies to statutory audits — audits required by law under the Companies Act 1967. It applies from 6 May 2026 for audit reports issued on or after that date. Companies whose financial year ends after 6 May 2026 will see this change when they receive their next audit report.

For the statutory authority and legislative text, see ACRA’s Corporate and Accounting Laws (Amendment) Act page.

Why Singapore Made This Change

Personal Accountability for Audit Quality

The primary rationale for the change is straightforward: accountability. When a firm signs an audit report, responsibility is diffuse. When a named individual signs — or is identified as responsible — accountability is personal and direct.

Audit failures in corporate governance have historically been easier to obscure when institutional rather than individual names were on the report. Identifying the engagement partner by name creates a direct professional and reputational link between the individual accountant and the audit opinion they issued.

Alignment with International Practice

Singapore is not the first to adopt this requirement. The United Kingdom introduced engagement partner naming in 2009. Australia followed. The United States has required the audit engagement partner’s name to be disclosed to the Public Company Accounting Oversight Board (PCAOB) since 2009, with public disclosure from 2017.

Singapore’s adoption aligns its audit framework with major financial centres and reflects MAS’s broader agenda of raising audit quality standards alongside transparency in corporate governance.

What Changes in the Audit Report

In practical terms, audit reports issued from 6 May 2026 onwards will include the name of the engagement partner alongside the firm’s signature block. This is typically positioned at the end of the audit report, next to or below the audit firm’s name, address, and registration details.

Companies reviewing their audit reports should confirm this information is present. If your auditor has issued a report post-6 May 2026 without naming the engagement partner, you should raise this with the firm directly.

What Boards and Audit Committees Should Do

Know Your Engagement Partner

The most important immediate action for audit committee (AC) chairs and board members is simple: find out who your engagement partner is and confirm they will be named in your next audit report. This is now your right under statute — and something you are entitled to expect.

Ask your audit firm at the next planning meeting or at the start of the audit engagement: “Who is the engagement partner, and will they be named in the report?” This also serves as a natural opening to evaluate the partner’s experience, sector expertise, and availability.

Review Your Audit Engagement Letter

Engagement letters should now reflect the requirement to identify the engagement partner. If you are renewing an audit mandate or entering a new engagement post-6 May 2026, ensure the engagement letter captures the partner’s name and responsibilities. This protects both the company and the firm.

Factor Into Auditor Rotation Discussions

The naming requirement adds a new dimension to auditor rotation discussions. When considering partner rotation (as distinct from firm rotation), boards now have a more visible basis for evaluating continuity and change at the individual level. Partner transitions become a more tangible governance event.

Update Your Audit Committee Charter

AC charters that govern the appointment and oversight of external auditors should be updated to reference the engagement partner identification requirement. The charter should address how the committee will confirm compliance and how it will manage partner-level transitions.

Are All Companies Affected?

The requirement applies to statutory audits. Not all Singapore companies are required to have their accounts audited. Under the Companies Act, a small company is exempt from the requirement to have its financial statements audited if it satisfies at least two of the following three criteria for two consecutive financial years:

  • Annual revenue of not more than S$10 million
  • Total assets of not more than S$10 million
  • No more than 50 employees

Companies that qualify as small companies and have applied the audit exemption are not affected by the engagement-partner naming requirement — they are not having a statutory audit in the first place. However, many companies above these thresholds, including subsidiaries of listed groups and companies in regulated sectors, will be directly affected.

For a full overview of ACRA filing obligations, see our annual filing requirements guide and our XBRL filing guide.

The Broader Context: A More Accountable Corporate Governance Framework

The engagement-partner naming requirement does not stand alone. It is one of several provisions that commenced under the Corporate and Accounting Laws (Amendment) Act 2025 on 6 May 2026. Others include a significant increase in director fines (up to S$20,000) and new automatic disqualification grounds for money laundering convictions.

Taken together, these changes signal a clear direction: Singapore is tightening the personal accountability of individuals — whether directors or auditors — who occupy positions of governance responsibility. The era of hiding behind institutional names is ending.

Our companion article, What Singapore Directors Must Do Now, covers the full range of changes that commenced on 6 May 2026.

For a comprehensive overview of the Act, see our earlier article on the key changes in the Corporate and Accounting Laws (Amendment) Act 2025.

Action Checklist for AC Chairs and CFOs

  • Confirm the name of the audit engagement partner for your next financial year-end audit
  • Verify that your audit firm will include the partner’s name in the audit report from 6 May 2026
  • Review and update the audit engagement letter to reflect the new requirement
  • Update the audit committee charter to reference engagement-partner identification
  • Discuss the impact on auditor rotation policy at the next AC meeting
  • Ensure your ACRA filing timeline accounts for any changes in the audit report format — see our Singapore Company Compliance Calendar 2026

If your company is navigating audit committee governance, director obligations, or corporate secretarial compliance in light of the 6 May 2026 changes, the team at Raffles Corporate Services is here to help.

— The Editorial Team, Raffles Corporate Services