Accountants Act (Chapter 2): Primary legislation regulating the accounting profession in Singapore, including requirements for qualified accountants and professional standards and conduct
Companies Act (Chapter 50): Governs requirements for maintaining proper accounting records, financial reporting standards, and record-keeping obligations for companies in Singapore
Personal Data Protection Act (PDPA): Regulates the handling and protection of client's personal and financial data, including data storage, transfer requirements, and privacy obligations
Income Tax Act: Outlines compliance requirements for tax reporting, record keeping requirements for tax purposes, and mandatory time periods for maintaining financial records
Goods and Services Tax Act: Covers GST registration and reporting requirements, along with specific record keeping requirements for GST purposes
Employment Act: Relevant for employment terms and conditions if staff are involved in providing bookkeeping services
Singapore Financial Reporting Standards: Professional standards framework that governs financial reporting and accounting practices in Singapore
Electronic Transactions Act: Governs electronic record keeping, digital signatures, and the validity of electronic contracts
AML/CFT Requirements: Anti-Money Laundering and Countering the Financing of Terrorism requirements applicable to financial service providers
Professional Indemnity Requirements: Insurance and liability protection requirements for professional service providers in the accounting industry
