Appointment of the Chairman of Singapore Accountancy Commission

1.            The Minister for Finance has appointed Mr Chaly Mah as the Chairman of the Singapore Accountancy Commission (SAC) with effect from 1 April 2016. Mr Mah will be taking over from Mr Michael Lim.

2.            SAC was set up in 2013 as the statutory body to promote the growth and development of the accountancy sector, following recommendations from the Committee to Develop the Accountancy Sector (CDAS)^[1].

3.            Mr Michael Lim served as Chairman of the Pro-Tem SAC from 1 October 2011 to 31 March 2013 and has been Chairman of SAC since its inception. During his term as Chairman of Pro-Tem SAC, Mr Lim oversaw the development of the Singapore Qualification Programme^[2] (Singapore QP). This is one of the key recommendations from CDAS to make Singapore a leading global centre for accountancy talent, education, thought leadership and professional development. Since SAC’s inception, Mr Lim has also been instrumental in the launch and implementation of the Singapore QP. In March this year, the first batch of the Singapore QP candidates graduated from the Programme.  

4.            Under Mr Lim’s leadership, SAC has established strong working relationships with stakeholders from the accountancy professional bodies, accounting entities and institutes of higher learning. Mr Lim has also laid the foundation for SAC’s initiatives in the areas of internal audit, business valuation and the Singapore CFO Institute.

5.            Mr Chaly Mah is the Chairman of Deloitte Singapore and the co-chairman of the Working Group on Legal and Accounting Services under the Committee on the Future Economy. Mr Mah has served as SAC’s Deputy Chairman since 1 April 2015. A brief write-up on Mr Mah is at Annex A (27 KB). The full list of members of SAC, with effect from 1 April 2016, is at Annex B (85 KB).

6.            The Ministry of Finance and the Singapore Accountancy Commission would like to place on record our deep appreciation to Mr Michael Lim for his leadership and invaluable contributions to the SAC.

^[1] The CDAS report is available at https://www.sac.gov.sg/sites/default/files/CDAS-FinalReport-12Apr10.pdf

^[2] The Singapore QP is the national professional accountancy programme that confers the title of “Chartered Accountant of Singapore”. The programme aims to raise the capabilities of the accountancy profession and pave the way for future mutual recognition with other jurisdictions. It will also open up overseas practising opportunities for Chartered Accountants of Singapore.