From 6 May 2026, every Singapore company that is required by law to have its accounts audited must ensure that its audit report names — by full name — the individual public accountant personally responsible for the engagement. This is one of the most operationally significant changes introduced by the Corporate and Accounting Laws (Amendment) Act 2025 (CALA 2025), which commenced in its first tranche on 6 May 2026.

Previously, audit reports were signed in the name of the audit firm alone. The engagement partner’s identity was known to ACRA through internal regulatory filings but was not disclosed in the public audit report itself. That changes under CALA 2025. The individual who conducted — and is accountable for — the audit must now be identified on the face of the report.

For directors and company secretaries, this is not merely an auditor’s concern. It is a governance item that requires active verification before each audit report is accepted by the board. This guide explains the new requirement in detail, identifies which companies are affected, and sets out a practical checklist for directors and company secretaries to follow.

What CALA 2025 Requires: The New Audit Report Naming Rule

Under the amendments introduced by CALA 2025, the audit report of a Singapore company must now state the name of the individual public accountant who is primarily responsible for the audit engagement. This is the partner or director of the audit firm who personally oversaw and is accountable for the conduct of the audit — sometimes referred to as the engagement partner.

The requirement goes beyond the audit report itself. Auditors are now required to confirm the engagement partner’s name in two additional documents:

  • The audit engagement letter (the formal agreement between the company and the audit firm), which must name the responsible partner before the engagement commences; and
  • The management representation letter (the letter signed by management at the conclusion of the audit, confirming the accuracy of information provided to the auditor), which must also identify the partner.

This three-point confirmation — engagement letter, representation letter, and audit report — creates a clear paper trail of personal accountability that ACRA and the Public Accountants Oversight Committee (PAOC) can follow if audit quality issues arise.

Why Singapore Is Making This Change

Singapore is aligning with international best practice. The Public Company Accounting Oversight Board (PCAOB) in the United States has required engagement partner disclosure in audit reports since 2016. The United Kingdom’s Financial Reporting Council and Australia’s ASIC have similar requirements. The rationale is straightforward: named accountability deters complacency.

When an engagement partner knows that their name will appear on every audit report they sign, they have a personal professional stake in the quality of that audit — not just the firm’s reputation. ACRA has observed that Singapore’s previous regime, where only the firm name appeared, made it more difficult to assess individual-level audit quality trends during inspections.

For Singapore’s broader goal of maintaining a world-class audit regime and attracting multinational companies and fund managers to domicile in Singapore, transparent individual accountability is an important part of the governance framework.

Which Companies Are Affected?

The new requirement applies to every Singapore company that is legally obligated to have its financial statements audited. Understanding which companies must be audited — and which are exempt — is therefore essential context.

Companies Required to Have an Audit

As a default rule under the Companies Act (Cap. 50), all Singapore companies must have their accounts audited each financial year. The exceptions are small companies and small groups that qualify for audit exemption under Section 205C of the Companies Act.

If your company does not qualify for the small-company audit exemption — because it is a public company, a company limited by guarantee, or a private company that fails the size thresholds — it must be audited, and as of 6 May 2026, that audit report must name the individual engagement partner.

The Small-Company Audit Exemption (Section 205C) — For Context

A private company qualifies as a “small company” and is exempt from audit if it meets at least two of the following three criteria for each of the two preceding financial years:

  • Total annual revenue of no more than S$10 million;
  • Total assets of no more than S$10 million; and
  • No more than 50 employees.

There is also a group test: if a company is part of a group, the entire group must qualify as a “small group” (applying the same thresholds at consolidated level) for the individual subsidiary to be exempt. A company that passes the small-company test on a stand-alone basis but belongs to a large group is not exempt.

If your company qualifies for audit exemption, the new CALA 2025 naming requirement does not apply to you — because you have no audit report. However, if you are close to the thresholds or operate within a larger group, it is important to verify your exemption status annually. See our guide on XBRL filing requirements and exemptions for further detail on audit and financial reporting obligations.

What Directors Must Do: A Practical Checklist

Directors have a statutory duty under the Companies Act to ensure that the company’s financial statements are properly prepared and audited. With the new naming requirement in force, directors and company secretaries should build the following checks into their compliance calendar.

Step 1: Confirm With Your Audit Firm Before the Engagement Begins

At the start of each financial year’s audit — when the engagement letter is issued — confirm with your audit firm that the engagement letter identifies by name the individual public accountant who will be personally responsible for the engagement. Do not accept an engagement letter that names only the audit firm. This is now a legal requirement, and an engagement letter that omits the partner’s name is non-compliant.

Step 2: Verify the Management Representation Letter

At the conclusion of the audit, when management signs the representation letter, check that the letter also names the responsible partner. This is the company’s written acknowledgement of the information provided to the auditor, and under CALA 2025 it must identify the engagement partner by name.

Step 3: Review the Audit Report Before Board Approval

Before the board approves the audited financial statements, review the audit report itself and confirm that it:

  • Names the individual public accountant responsible for the engagement;
  • States the partner’s ACRA-registered public accountant number (as required under the Public Accountants Act); and
  • Is signed by both the audit firm and the named partner.

If the audit report does not name the partner, it is non-compliant and the board should not accept it. Return it to the audit firm for correction before the annual general meeting.

Step 4: Update Your Internal Compliance Checklist

Company secretaries should update the company’s annual compliance calendar to include audit report review as a specific board-level checklist item. This is not a step that can be delegated entirely to management — under the Companies Act, directors are responsible for ensuring that the accounts laid before the AGM are properly prepared and audited.

Step 5: Minute the Board’s Review

When the board approves the audited financial statements, minute the fact that the board reviewed and confirmed that the audit report names the engagement partner. This creates a record of governance oversight that demonstrates compliance with the new requirement.

ACRA Enforcement and Penalties

ACRA has broad powers to inspect and investigate audit firms and public accountants under the Accountants Act 2004 and the Public Accountants Act. The Public Accountants Oversight Committee (PAOC) conducts periodic inspections of registered audit firms, and a failure to comply with the naming requirement in audit reports would be a regulatory deficiency that could affect an audit firm’s registration status and the individual partner’s public accountant registration.

For companies, the failure to have a compliant audit report may result in the financial statements being treated as not properly audited, which creates a downstream compliance risk for the annual return filing with ACRA. Companies that file annual returns with accounts that are not properly audited may face penalties under the Companies Act.

Directors should be aware that CALA 2025 also introduced enhanced director penalties — including increased fines for directors who fail to ensure proper accounts and annual return filings. These changes were also part of the 6 May 2026 commencement, and directors who are unfamiliar with the broader set of CALA 2025 changes should read our overview of all CALA 2025 changes that directors need to know.

What About Companies With a December 2025 or March 2026 Financial Year End?

CALA 2025 commenced on 6 May 2026. Companies whose financial year ended on 31 December 2025 or 31 March 2026 may have already completed their audits or have audits in progress. The practical question is whether the naming requirement applies to audits in progress on 6 May 2026.

Companies in this position should confirm with their auditors whether the engagement documentation and the final audit report will be updated to comply with the new requirement. For audits that have not yet been finalised and presented to the board as of 6 May 2026, it is prudent to ensure compliance. If the audit report has already been signed and the accounts presented to shareholders before commencement date, the requirement would not apply retrospectively.

For all future audits — for financial years ending on or after the commencement date — compliance is mandatory. If you need legal advice on your compliance obligations under the new regime, we can point you in the right direction.

Practical Summary: What Company Secretaries Should Do This Month

If your company is currently undergoing an audit or is about to begin one, take these steps immediately:

  1. Contact your audit firm and confirm that the engagement letter or updated engagement documentation names the engagement partner personally.
  2. Add “audit report partner naming — CALA 2025 compliance” as a line item in your board meeting agenda when reviewing audited accounts.
  3. Update your company’s compliance checklist and secretarial calendar to reflect this new requirement.
  4. If your company’s constitution or standing board resolutions reference audit procedures, consider whether an update is needed to align with the new governance expectations.

The new requirement is simple in concept — one name, consistently documented in three places — but requires a deliberate process change from directors, company secretaries, and CFOs who review audit documentation. Building it into your standard workflows now ensures you are not caught off-guard at the next board meeting. For the latest Singapore business news and regulatory updates, staying informed is equally important for company directors and secretaries.

Beyond audit compliance, sound financial planning and investment decisions are equally important for business owners navigating Singapore’s evolving regulatory landscape.

How Raffles Corporate Services Can Help

At Raffles Corporate Services, our corporate secretarial team manages annual compliance calendars, coordinates audit documentation reviews, and ensures that board minutes reflect the governance steps taken on key regulatory items including CALA 2025. We work with companies of all sizes — from start-up private limited companies to multi-entity groups — to ensure their secretarial and governance obligations are met on time and in full.

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