From 6 May 2026, every audit report signed for a Singapore company must identify by name the individual public accountant personally responsible for the engagement. This is one of the most significant changes brought in by Phase 1 of the Corporate and Accounting Laws (Amendment) Act 2025 (CALA 2025) — and it has immediate, practical consequences for company secretaries, audit committees, and directors preparing for their next AGM.

This guide explains what the change means, who it affects, what company secretaries need to do before tabling audit reports, and how audit committees should factor this into their auditor evaluation processes.

What Changed on 6 May 2026

Before the CALA 2025 commencement, Singapore audit reports were routinely signed in the name of the audit firm. While the lead engagement partner’s name was registered with ACRA, it was not necessarily disclosed in the audit report itself — the report landed on shareholders’ desks identifying Firm X, not Partner Y.

This changes for all financial years ending on or after 6 May 2026. Under the amended provisions, the audit report must now identify by name the individual public accountant — the engagement partner — who was primarily responsible for the audit engagement. The named partner must be registered as a public accountant under the Accountants Act 2004.

This aligns Singapore practice with established international standards:

  • United States — the Public Company Accounting Oversight Board (PCAOB) has required engagement partner disclosure since 2017
  • United Kingdom — the Financial Reporting Council (FRC) requires named partners on listed company audits
  • Australia — the auditor signing the report is individually identified under AUASB standards

The change signals a deliberate policy decision: audit accountability should be personal, not merely institutional.

Which Companies Are Affected

The named audit partner requirement applies to all Singapore-incorporated companies required to have a statutory audit. This includes:

  • Private limited companies that do not qualify for the small company audit exemption
  • Public companies listed on the Singapore Exchange (SGX)
  • Subsidiaries of listed companies, regardless of their own size

Small company audit exemption reminder

Under Section 205B of the Companies Act 1967, a private company qualifies as a “small company” and is exempt from statutory audit if it satisfies at least two of the following three conditions for the immediate past two financial years:

  1. Annual revenue of not more than S$10 million
  2. Total assets of not more than S$10 million
  3. Number of employees of not more than 50

If your company qualifies for this exemption, it does not need a statutory audit and is therefore not directly affected by the named partner requirement. That said, many companies that could qualify choose to retain an audit for banking, investor, or governance reasons — in those cases, the requirement applies to their voluntary audits as well.

Transitional point

The requirement applies prospectively. Audit reports for financial years ending before 6 May 2026 are not affected. Companies with 31 May, 30 June, or any other year-end dates falling on or after 6 May 2026 must comply immediately for the current financial year.

What Company Secretaries Must Do Before Tabling the Audit Report

The company secretary plays a central role in ensuring that audit reports are compliant before they are tabled at the AGM or laid before shareholders. Here is a practical checklist:

1. Confirm the audit report template has been updated

Before the signed audit report is received from your auditors, confirm that your audit firm has updated their standard report template to include the named partner. Raise this at the draft report stage — not after the report has been signed. This is a sensible item to include in your pre-AGM planning checklist and to flag in the engagement letter review.

2. Verify the named partner is correctly identified

The named partner must be the individual public accountant primarily responsible for the engagement — typically the engagement partner on the audit file. Before tabling the report, verify that:

  • The full name is stated clearly in the report body
  • The partner is currently registered as a public accountant with ACRA
  • The firm’s registration details are also included (as required prior to the amendment)

3. Update your internal compliance checklist

Add a dedicated line item to your AGM and audit report review checklist: “Confirm audit report names individual engagement partner as required under CALA 2025.” This ensures the check is not missed in future audit cycles.

4. Retain a copy of the compliant report

The named audit report, once tabled and received at the AGM, should be retained as part of the company’s statutory books and AGM records in accordance with the Companies Act.

What Audit Committees Should Consider

The named audit partner requirement gives audit committees a new, concrete anchor for their auditor evaluation conversations. Here are the key areas to focus on:

Engagement partner quality and accountability

With the partner now named in the report, the audit committee has a stronger basis to ask targeted questions about the specific individual responsible: their experience with your industry, their hands-on involvement in the engagement, their availability to attend the AGM if required, and whether there are any concerns about the quality of work performed in the current year.

Audit partner rotation

Singapore has not introduced mandatory engagement partner rotation for private companies. However, the named partner requirement makes it considerably easier to track how long the same individual has been responsible for the engagement — and for audit committees to raise rotation questions proactively as a matter of good governance practice.

Disclosure at AGMs

For companies where auditors attend the AGM, the named partner in the report is the individual whom shareholders might reasonably expect to be present or available to field questions on the audit. Boards and company secretaries should consider whether to standardise the practice of inviting the named engagement partner to the AGM.

Engagement Letters: What to Check

Auditors will typically now confirm the name of the responsible partner in the engagement letter and management representation letter. Company secretaries should ensure the engagement letter is reviewed before signature to confirm that the named partner is correctly identified and that the letter reflects the updated disclosure obligations under CALA 2025. If the named partner changes mid-engagement, confirm with the auditors how this will be handled in the final report.

Interaction with the Broader CALA 2025 Framework

The named audit partner requirement is one of several significant changes brought in by Phase 1 of CALA 2025. The same 6 May 2026 commencement also introduced enhanced director duty penalties, expanded automatic disqualification for money laundering convictions, and new double-tier approval requirements for selective share buybacks.

For a comprehensive overview, see our guide on CALA 2025 Commenced 6 May 2026: What Directors Must Know. You may also find our Singapore Company Compliance Calendar, our guide on AGM Requirements for Singapore Companies, and our article on Board Resolutions in Singapore useful reading.

Conclusion

The named audit partner requirement is a relatively straightforward technical change — but its longer-term effect on audit culture and accountability may be significant. For company secretaries, the immediate priority is to ensure that the first audit reports signed for financial years ending on or after 6 May 2026 comply with the requirement. A missed named partner disclosure is a technical non-compliance that is easily avoided with a proper pre-tabling checklist.

If you need legal advice on your compliance obligations under the CALA 2025 framework, we can point you in the right direction. Beyond compliance, sound financial planning and investment decisions are equally important for company directors and business owners in Singapore.

For the latest Singapore business news and regulatory updates, there are useful resources for directors and company secretaries.

To speak with the team at Raffles Corporate Services, you can email [email protected] or call, SMS, or WhatsApp +65 8501 7133. We are happy to assist with any queries.

— The Editorial Team, Raffles Corporate Services