From 6 May 2026, every statutory audit report in Singapore must now name the individual public accountant — the engagement partner — primarily responsible for the audit. This change, introduced under the Corporate and Accounting Laws (Amendment) Act 2025 (CALA 2025), is already in force. If your company has a financial year ending on or after 6 May 2026, your next audit report must comply.

For most company secretaries and directors, the day-to-day implications are modest but specific. For audit committees, the change invites a broader rethink of how audit quality is discussed and evaluated. This guide explains what the new requirement means, who is affected, what company secretaries need to do, and how audit committees should respond.

What Has Changed Under CALA 2025?

Prior to 6 May 2026, a Singapore statutory audit report was required to be signed by the audit firm — for example, “Ernst & Young LLP” or “Foo, Kon & Tan Advisory Pte Ltd” — without identifying the specific partner who led the engagement. The firm bore the regulatory responsibility; the individual partner’s identity was not disclosed on the face of the report.

From 6 May 2026, the audit report must now also identify by name the individual public accountant primarily responsible for the audit engagement. This means the engagement partner’s full name will appear on the audit report alongside the firm’s name and signature.

The change applies to all financial years ending on or after 6 May 2026. Audit reports for financial years ending before that date are not affected — even if they are signed after 6 May 2026.

Which Companies Are Affected?

The named audit partner requirement applies to all Singapore-incorporated companies that are required by law to have their financial statements audited. In practice, this means any company that does not qualify for the small company audit exemption under the Companies Act (Cap. 50).

The Small Company Audit Exemption

A private company qualifies as a “small company” — and is therefore exempt from the statutory audit requirement — if it satisfies at least two of the following three conditions for the immediately preceding two consecutive financial years:

  • Annual revenue of not more than S$10 million
  • Total assets of not more than S$10 million
  • Not more than 50 employees

Additionally, the company must be a private company (not a public company or subsidiary of a listed company). Group audit exemptions exist for qualifying small groups under Section 205C of the Companies Act.

If your company does not meet the small company criteria — because it is too large, is listed, is a subsidiary of a listed entity, or is required to be audited for other regulatory reasons — then the named audit partner requirement applies to you from the first financial year ending on or after 6 May 2026.

For further context on the small company audit exemption and how it interacts with your compliance obligations, see our Singapore Company Compliance Calendar.

Why Did ACRA Introduce This Change?

The rationale is straightforward: greater accountability. When only the firm is named, individual audit partners have limited public accountability for the quality of the work they personally oversee. Naming the engagement partner on the audit report creates a direct, visible link between the individual professional and the audit opinion they have signed off on.

This aligns Singapore’s practice with several international jurisdictions, including the United States (where the Public Company Accounting Oversight Board, or PCAOB, has required named engagement partners on audit reports for listed companies since 2017), the United Kingdom, and Australia. For Singapore, the change currently applies to all companies subject to statutory audit — not just listed companies — which is arguably broader in scope than the US approach.

ACRA and the Accounting and Corporate Regulatory Authority have consistently emphasised audit quality as a regulatory priority. Named partner disclosure is one lever that regulators have found effective in raising standards: auditors are more likely to be personally diligent when their name appears on the face of a report that will be filed with ACRA and made publicly accessible via BizFile+.

Practical Steps for Company Secretaries

The change creates a small but important set of actions for company secretaries to incorporate into the year-end checklist. Here is what you need to do:

1. Confirm the Audit Report Template Has Been Updated

Before approving the draft financial statements and audit report for tabling at the Annual General Meeting (AGM), check with your auditors that their report template has been updated to include the engagement partner’s name. This is primarily the auditor’s responsibility, but it is good practice for company secretaries to verify compliance before the AGM package is circulated to members.

Most major and mid-tier audit firms will have updated their templates as a matter of course. Smaller or newer audit firms may need a gentle prompt. If in doubt, ask your auditor to confirm compliance in writing.

2. Update Your AGM Checklist

Add a specific line item to your AGM preparation checklist: “Verify audit report identifies engagement partner by name (CALA 2025 requirement).” This ensures the check is not overlooked in future cycles, particularly if staff turnover occurs or a different audit firm is engaged.

For guidance on AGM requirements more generally, see our AGM Requirements for Singapore Companies: A Practical Guide (2026).

3. Ensure the Named Partner’s Details Are Correct

When reviewing the draft audit report, verify that the named partner’s full name as registered with ACRA as a public accountant is correctly stated. Typographical errors or the use of an informal name variant could technically cause a compliance issue. If you are unsure whether the named partner holds a valid public accountant registration in Singapore, you can verify on ACRA’s website.

4. Confirm the Financial Year End Cutoff

The requirement applies to financial years ending on or after 6 May 2026. If your company has a 31 March 2026 year end, you are not affected for that cycle. If your year end is 31 May 2026, 30 June 2026, or any date thereafter, the named partner requirement applies immediately. Confirm your company’s financial year end and ensure the requirement is addressed for the correct cycle.

Implications for Audit Committees

For companies with audit committees — typically larger private companies and all listed companies — the named partner requirement invites a broader conversation about audit quality oversight.

Engagement Partner as a Factor in Audit Evaluation

Audit committees already discuss the appointment and re-appointment of auditors on an annual basis, typically as part of the AGM process. With the engagement partner now named on the audit report, it is entirely reasonable for audit committee members to ask: who is this person? What is their track record? Have there been any regulatory findings against them?

ACRA publishes information on disciplinary actions against public accountants. Audit committees that conduct annual auditor evaluations — which is best practice under Singapore’s Corporate Governance Code for listed companies — should consider whether the identity and track record of the named engagement partner forms part of that evaluation going forward.

Partner Rotation

Singapore’s regulatory framework already imposes mandatory audit partner rotation requirements for auditors of listed companies and certain regulated entities. The named partner disclosure makes rotation more visible: the audit committee and shareholders can now track directly when a rotation has occurred, and can ask questions if continuity of the individual partner is perceived as a risk to independence.

Transitional Considerations

If a company changes its audit firm during a financial year, or if the engagement partner changes mid-engagement, audit committees should clarify with the new firm or new partner how the naming requirement applies to the final report. Where the engagement partner changes during the year, it is advisable to seek written confirmation from the auditor on who will be named and why.

How This Fits Within the CALA 2025 Landscape

The named audit partner requirement is one of several changes brought into force by CALA 2025 from 6 May 2026. Other significant changes include heavier penalties for directors who breach their statutory duties, expanded Anti-Money Laundering (AML) disqualification categories, and new double-tier approval requirements for selective share buybacks.

For a comprehensive overview of all the changes that took effect from 6 May 2026, see our article on CALA 2025: What Every Singapore Director Must Know.

The CALA 2025 amendments signal that ACRA is continuing to strengthen Singapore’s corporate governance framework in line with international best practice. Company secretaries and boards that stay ahead of these changes — rather than reacting after the fact — are better positioned to maintain clean compliance records and avoid last-minute scrambles at year-end. For the latest Singapore business news and regulatory updates, there are useful resources for directors and business owners.

Summary: What You Need to Do Now

If your company’s financial year ends on or after 6 May 2026 and you are subject to a statutory audit, here is your action checklist:

  • Confirm with your auditors that their report template names the engagement partner
  • Update your AGM preparation checklist to include this verification step
  • Verify the named partner’s full name is correct and matches their ACRA public accountant registration
  • For audit committees: consider whether the engagement partner’s identity should form part of your annual auditor evaluation
  • For companies changing auditors: discuss with the incoming firm how the naming requirement will be handled

If you need legal advice on your audit compliance obligations or how the CALA 2025 changes affect your company, we can point you in the right direction. Beyond corporate compliance, sound financial management and business planning remain equally important for sustainable growth.

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