From 6 May 2026, every audit report issued for a Singapore company that is required to have a statutory audit must now bear the name of the individual public accountant personally responsible for the engagement. This change, introduced by the Corporate and Accounting Laws (Amendment) Act 2025 (CALA 2025), represents a significant shift in audit transparency — and carries practical implications for boards, audit committees, and auditors alike.

This guide explains what the new requirement means, who is affected, what your board should do now, and how this change fits into broader global trends in audit accountability.

What Changed on 6 May 2026?

Under the previous regime, a Singapore company’s audit report was signed in the name of the accounting firm — for example, “Ernst & Young LLP” or “Deloitte & Touche LLP.” The identity of the individual public accountant who led and was personally responsible for the engagement was not disclosed in the audit report itself, even though that individual was registered with ACRA as the responsible partner.

With effect from 6 May 2026, under the amended Companies Act (Cap. 50) as modified by CALA 2025, audit reports must now identify by name the individual public accountant (typically the engagement partner) who conducted the audit and is personally accountable for the opinion expressed.

This means that going forward, audit reports for Singapore companies will bear both the firm’s name and the individual auditor’s name — just as is the practice in the United States, United Kingdom, and Australia.

Who Is Affected?

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

  • All companies that do not qualify for the small company audit exemption
  • All listed companies
  • All entities that are members of a group that does not qualify for the small group audit exemption

Small Company Audit Exemption — Does It Apply to You?

A company qualifies as a “small company” under the Companies Act and is therefore exempt from the statutory audit requirement if it is a private company and satisfies at least two of the following three conditions in each of the two most recent financial years:

  1. Annual revenue of not more than S$10 million
  2. Total assets of not more than S$10 million
  3. No more than 50 employees

If your company meets this exemption, you do not require a statutory audit and the named auditor requirement does not apply to you. However, you may still choose to have a voluntary audit, in which case the new disclosure practice would apply as a matter of professional standards.

For a full overview of Singapore’s company compliance requirements, including when audits are required, refer to our compliance guide.

Purpose of the Change: Accountability and Transparency

The policy rationale behind named auditor disclosure is straightforward: it promotes personal accountability for audit quality. When the engagement partner’s name appears on the audit report, it creates a direct and public link between that individual and the opinions expressed — making the auditor personally answerable to shareholders, regulators, and the public in a way that firm-level attribution does not achieve.

ACRA has long maintained a register of approved public accountants that is accessible via Bizfile. The CALA 2025 amendment extends that transparency from the register to the audit report itself — placing the information directly in the hands of shareholders when they read the financial statements.

How Does Singapore Compare Internationally?

Singapore is joining a growing international consensus on audit partner disclosure:

  • United States: The Public Company Accounting Oversight Board (PCAOB) has required public company audit reports to name the engagement partner since 2017.
  • United Kingdom: The Financial Reporting Council (FRC) has required named engagement partners in audit reports for listed companies.
  • Australia: The Corporations Act requires the auditor’s name to appear on the audit report.

Singapore’s adoption of this standard brings it into line with major capital markets, which is relevant for Singapore companies with international investors, listed companies, and entities seeking to attract global capital.

Practical Steps for Boards and Audit Committees

1. Confirm Updated Report Templates with Your Auditor

The most immediate action is to confirm with your external auditor that their audit report template has been updated to include the engagement partner’s name. Audit firms should already have updated their templates in advance of the 6 May 2026 commencement date — but boards and audit committees should verify this, particularly for upcoming audits.

2. Update Engagement Letters and Management Representation Letters

Auditors are required to confirm the name of the responsible partner in the engagement letter and management representation letter. If these documents have not been updated to reflect the new requirement, request amended versions from your auditor.

3. Consider the Named Partner in Auditor Evaluation

Now that the engagement partner’s name will be publicly disclosed in the audit report, audit committees may wish to consider the named individual’s experience, track record, and sector expertise as part of their annual auditor evaluation — in addition to assessing the firm overall. This is consistent with best practice under the MAS Guidebook for Audit Committees.

4. Disclose in Board Papers

For listed companies and those with formal governance structures, it is good practice for the audit committee to note in its board papers the name of the engagement partner appointed for the forthcoming audit — both as a matter of record and to confirm that the committee has considered the individual’s suitability.

Implications for Auditors

For public accountants in Singapore, named disclosure represents a shift in personal professional exposure. The engagement partner’s reputation is now directly linked to each audit opinion in a publicly accessible document. This creates stronger incentives for rigorous quality control and will likely increase the weight given to engagement partner rotation — where partners cycle off an engagement after a set number of years to maintain independence and a fresh perspective.

ACRA’s oversight of individual registered public accountants via the Public Accountants Oversight Committee (PAOC) already covers individual-level accountability. The named auditor requirement reinforces this at the market level.

Context: Other Key CALA 2025 Changes

The named auditor requirement is one of several significant changes introduced by CALA 2025. Other provisions that commenced on 6 May 2026 include:

  • The new double-threshold approval requirement for selective share buy-backs
  • Increased civil and criminal penalties for directors who breach their duties under the Companies Act
  • Amendments to the regime governing financial assistance by companies

For a comprehensive overview of all CALA 2025 changes affecting Singapore directors, refer to our full guide. If you need legal advice on your audit or governance obligations, we can point you in the right direction.

For the latest Singapore corporate governance and regulatory updates, there are useful resources available for directors and company secretaries.

Speak to Raffles Corporate Services

If you have questions about the CALA 2025 changes and how they affect your company’s audit obligations, governance structure, or corporate secretarial requirements, Raffles Corporate Services can assist. Our team provides comprehensive company secretarial services and can also connect you with the right professionals for audit and governance advisory.

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