From 6 May 2026, every audit report issued for a Singapore company must do something new: it must identify by name the individual public accountant who was primarily responsible for that audit engagement. This change, introduced by the Corporate and Accounting Laws (Amendment) Act 2025 (CALA 2025), is one of the most significant shifts in Singapore audit practice in years — and it has direct, practical implications for company secretaries, audit committees, and boards right now.

This article explains what the named audit partner requirement means, which companies are affected, and what steps company secretaries need to take before the next set of audited accounts is signed off.

What Has Changed: The Named Audit Partner Requirement

Prior to 6 May 2026, Singapore audit reports were signed in the name of the audit firm. The identity of the individual engagement partner was known to ACRA through the firm’s internal records and regulatory filings, but that name did not appear on the face of the report itself.

Under the amendments to the Accountants Act 2004 that took effect on 6 May 2026, audit reports covering financial years ending on or after that date must now identify the individual public accountant who was primarily responsible for the engagement. In plain terms: the engagement partner’s name must appear on the audit report alongside the firm’s signature.

This requirement applies prospectively. Audit reports for financial years that ended before 6 May 2026 are not affected. However, any company whose financial year ends on or after 6 May 2026 — including those with 31 May, 30 June, 31 December, and subsequent financial year ends — must comply immediately.

Which Companies Are Affected?

The named audit partner requirement applies to all Singapore-incorporated companies that are subject to a statutory audit. Not every company needs to be audited — the small company audit exemption removes the obligation for qualifying private companies.

A company qualifies for the small company audit exemption if it is a private company and meets at least two of the following three criteria for the financial year in question:

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

If your company does not meet these criteria — or if it is a public company, a listed company, or a subsidiary of a company that does not qualify — it must appoint an auditor and produce audited financial statements. Those audited financial statements must now include the engagement partner’s name.

Practically speaking, this affects a wide range of Singapore businesses: medium and large private limited companies, holding companies with complex group structures, companies receiving significant government grants or regulated by MAS, and companies preparing for IPOs or investor due diligence.

Why Singapore Has Made This Change

The rationale behind the named audit partner requirement is straightforward: greater transparency and personal accountability in the audit process.

When an audit report is signed simply in the firm’s name, it can be difficult to determine who within the firm was actually responsible for the engagement. By requiring the individual partner’s name to appear on the report, ACRA creates a clear line of accountability — the named partner takes personal professional responsibility for the quality of that audit.

This aligns Singapore with leading international audit regulatory regimes. The US Public Company Accounting Oversight Board (PCAOB) introduced partner name disclosure for listed company audits in 2017. The UK’s Financial Reporting Council (FRC) has required engagement partner disclosure for several years. Australia follows similar requirements. Singapore’s adoption of this practice signals its commitment to maintaining world-class audit quality standards — important for a financial centre that depends on investor confidence.

The change is part of the broader package of corporate governance reforms introduced by CALA 2025, which also strengthened director duty penalties and expanded AML disqualification categories from the same commencement date of 6 May 2026.

Practical Steps for Company Secretaries

Company secretaries play a central role in ensuring that audited financial statements are produced, reviewed, and tabled correctly. The named audit partner requirement adds a specific verification item to your pre-AGM checklist.

1. Confirm the Auditor Has Updated Their Report Template

Before the audit report is finalised, confirm in writing with the audit firm that their report template has been updated to include the engagement partner’s name. Do not assume this is automatic. Some smaller audit firms may not have updated their standard templates yet, and the company secretary should request confirmation early in the audit process — not the day before sign-off.

2. Verify the Named Partner’s Details Before AGM Tabling

When the draft audited financial statements are circulated for board approval, check that:

  • The engagement partner’s full name appears clearly on the audit report
  • The name matches ACRA’s register of public accountants (you can verify registrations through ACRA’s public accountant directory)
  • The audit firm’s name also appears alongside the partner’s name

3. Update Your AGM Preparation Checklist

Add “Verify named audit partner disclosure in audit report” as a standing item in your AGM preparation checklist. This is particularly important for companies with financial year ends of 31 May 2026, 30 June 2026, and all subsequent periods. If the financial statements are tabled at the AGM without the partner’s name, the report does not comply with the amended Accountants Act.

4. Update Your Annual Compliance Calendar

For your company’s annual compliance calendar, note the 6 May 2026 commencement date as the trigger for this requirement. Going forward, include the audit partner verification step in the pre-sign-off workflow alongside review of the directors’ statement and the financial statements themselves.

Implications for Audit Committees

For companies with audit committees — typically larger companies, listed entities, or well-governed private groups — the named audit partner requirement introduces a new dimension to the annual auditor evaluation process.

Audit committees are now in a position to consider the individual engagement partner as part of their review, not just the firm. When discussing audit quality, the committee can look at the specific partner’s track record, length of service on the engagement, and whether partner rotation is appropriate. Most professional accounting standards recommend rotating the engagement partner every five to seven years, though this is a matter of policy rather than a strict legal requirement for private companies.

The named partner also becomes a relevant factor when the audit committee evaluates whether to recommend auditor re-appointment to shareholders at the AGM. While the firm is formally appointed as auditor, the committee should be aware of who will actually be leading the engagement in the coming year.

Interaction with Other CALA 2025 Changes

The named audit partner requirement sits alongside the other CALA 2025 changes that took effect on 6 May 2026. The same commencement date also brought in significantly heavier penalties for breaches of core director duties — with the maximum fine rising from S$5,000 to S$20,000 — and a new category of automatic director disqualification for persons convicted of money laundering offences.

Directors and company secretaries should treat 6 May 2026 as a watershed moment in Singapore corporate governance. The combined effect of these changes is a sharper accountability framework across the board: directors face higher personal consequences for governance failures, auditors face personal identification in their reports, and the regulatory net for financial crime has been cast wider.

For a comprehensive overview of all the statutory duties of company secretaries under Singapore law, including the post-CALA 2025 updates, see our dedicated guide.

What About Small Companies?

If your company qualifies for the small company audit exemption and does not appoint an auditor, the named audit partner requirement simply does not apply. There is no audit report, so there is nothing to update.

However, company secretaries should periodically reassess whether the small company exemption remains available. A company that has grown — perhaps crossing the S$10 million revenue or total assets threshold — may no longer qualify and must appoint an auditor for the current financial year. If that situation arises, the audit report produced will need to comply with the named partner requirement from the outset.

For the latest on Singapore business regulatory updates, there are useful resources for directors and company secretaries navigating the post-CALA 2025 landscape.

Conclusion

The named audit partner requirement is a focused, practical change — but it demands attention from company secretaries before the next audit sign-off. The key action is straightforward: confirm with your audit firm that their report template has been updated, verify the named partner appears on the final report, and include this check in your standard pre-AGM workflow.

Companies with 31 May or 30 June financial year ends are in the first wave of affected entities, and many will be finalising their audits now. There is no grace period — the requirement applies to all audit reports for financial years ending on or after 6 May 2026.

If you need legal advice on your company’s audit compliance obligations, we can point you in the right direction. Beyond corporate compliance, sound financial planning and investment decisions are equally important for business owners managing growth and governance together.

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