The Corporate and Accounting Laws (Amendment) Act 2025 (CALA 2025) commenced its first major phase on 6 May 2026, bringing in heavier director penalties, the named audit partner requirement, expanded AML disqualification grounds, and new double-tier approval for selective share buybacks. But CALA 2025 is not yet fully in force.

Singapore directors and company secretaries who have digested the Phase 1 changes need to stay alert: further provisions remain pending commencement, and ACRA has signalled that additional phases will follow. Understanding what has already commenced, what is still coming, and what best practices to adopt in the interim will help boards and corporate professionals maintain compliance as the legislative landscape continues to evolve.

A Recap of CALA 2025 Phase 1 (6 May 2026)

The first tranche of CALA 2025 provisions commenced on 6 May 2026. The key changes that are already in force include heavier director duty penalties (fines of up to S$20,000 and/or up to 12 months’ imprisonment), the named audit partner requirement in audit reports, expanded AML/CFT disqualification grounds for directors, and the new double-tier approval requirement for selective off-market share buybacks.

These changes collectively signal a clear policy direction: greater individual accountability for directors, auditors, and other corporate professionals operating in Singapore’s corporate ecosystem. Our detailed guides on the CALA 2025 commencement and the director duty changes cover Phase 1 in full.

What Is Still Pending Under CALA 2025?

CALA 2025 as enacted contains provisions beyond those that commenced on 6 May 2026. The remaining pending provisions fall broadly into two categories:

Amendments to the Accountants Act 2004

CALA 2025 includes amendments to the Accountants Act 2004 relating to the professional regulation of public accountants and the licensing framework for accounting entities. These provisions have not yet received a commencement date. When implemented, they are expected to refine the regulatory framework governing who may provide public accountancy services and how such entities are registered and overseen by ACRA’s accountancy regulation framework.

For company secretaries, this means the rules around auditor selection and auditor registration with ACRA may be further refined. Watch for ACRA announcements on these changes, particularly if your company is changing auditors or if your current auditors are undergoing any structural changes to their partnership or entity.

Amendments to the Singapore Accountancy Commission Act 2013

CALA 2025 also contains amendments to the Singapore Accountancy Commission (SAC) Act 2013, which governs the institutional framework for the accounting profession in Singapore. These too have not yet been given a commencement date. The SAC oversees the Chartered Accountant of Singapore (CA Singapore) qualification and the broader development of the accounting profession. Changes in this area are expected to further align Singapore’s accountancy regulatory architecture with international standards.

How to Stay Ahead: Compliance Habits for Directors and Company Secretaries

Given that CALA 2025 is being implemented in phases, the most effective approach is to establish a standing compliance monitoring habit rather than reacting to each change after the fact.

Monitor ACRA’s News and Announcements

Each new commencement under CALA 2025 will be announced via a Gazette notification and a corresponding ACRA press announcement. Bookmark ACRA’s news and announcements page and check it regularly. ACRA typically gives several weeks’ notice before a commencement date.

Review Your Board Charter and Governance Procedures at Each Phase

Upon each new commencement, review your board resolution templates, AGM checklists, and internal governance procedures. Checklists that were accurate before a commencement date may need updating to reflect the new requirements. The company secretary plays a key role in keeping the board briefed on each new phase.

Update Your Compliance Calendar

Your compliance calendar should be a living document that captures not just recurring filing deadlines but also upcoming legislative milestones. Add a standing reminder to check for CALA 2025 phase updates at regular intervals throughout 2026 and 2027.

Why CALA 2025 Matters: The Bigger Picture

CALA 2025 is the most comprehensive amendment to Singapore’s corporate and accounting law framework in recent years. Its enactment reflects a deliberate policy direction: Singapore is raising the bar on corporate accountability, audit quality, and regulatory transparency. Individual accountability of directors and the named professional accountability of auditors are both being strengthened simultaneously.

For Singapore to maintain its reputation as a business-friendly but well-regulated jurisdiction, these changes are necessary and appropriate. Boards and company secretaries that embrace the new framework — rather than treating compliance as a checkbox exercise — will be better placed to attract investors, satisfy institutional stakeholders, and maintain the governance standards that Singapore’s corporate ecosystem demands.

If you need legal advice on how the upcoming CALA 2025 phases affect your company, we can point you in the right direction. For the latest Singapore business and regulatory news, there are useful resources for directors staying ahead of legislative changes.

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