Appointment of Chairman and Members of The Singapore Accountancy Commission

1. The Minister for Finance has appointed Mr. Michael Lim Choo San as the Chairman of the Singapore Accountancy Commission (“SAC”), with effect from 1 April 2013. The Minister has also appointed 13 other members to the SAC Board; they represent stakeholder groups such as the public accountancy profession, professional accountants in business, academia, professional accountancy bodies and government. (See Annex (91 KB) for a list of the members).

2. The SAC will take the lead in promoting the growth and development of the accountancy sector. The SAC Bill was passed by Parliament on 15 January 2013, and SAC will be officially formed on 1 April 2013. To achieve the vision of transforming Singapore into a leading accountancy hub for the Asia-Pacific region, the SAC will build on the strong foundation laid down by the Pro-Tem Singapore Accountancy Council (“Pro-Tem SAC”). Since its establishment on 1 September 2010, the Pro-Tem SAC has made significant progress in developing and implementing the Singapore Qualification Programme and launching the Singapore Chief Financial Officer Institute, amongst other initiatives.

3. The Ministry of Finance would like to welcome the newly appointed members of the SAC and also express our deep appreciation to the members of the Pro-Tem SAC for their invaluable contributions.