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"ACRA & I - Being an Effective Director"
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The Accounting and Corporate Regulatory Authority (ACRA) has launched its first handbook titled “ACRA & I – Being an Effective Director”.
The handbook is written for new or aspiring directors as well as those who have no formal training to help them better understand their responsibilities and duties. It also serves as a practical hands-on guide for these directors on the know-how in performing their statutory duties and meeting their legal and compliance requirements. The director’s handbook is launched as a part of ACRA’s suite of initiatives in the promotion of voluntary compliance among companies.
Written from a regulator’s perspective and in a style that is easy to read, the handbook is based on ACRA’s past experiences and dealings with directors in default. The handbook provides information such as the requirements of directors, common statutory requirements under the Companies Act, passing of resolutions, capital maintenance, fiduciary duties, closing of company and many more. Real examples of non-compliance by directors and companies and the lessons learnt are also featured in the handbook, so as to serve as useful reference points for directors and professional advisers of companies. ACRA also engaged the Institute of Certified Public Accountants of Singapore (ICPAS), the Singapore Association of Chartered Secretaries and Administrators (SAICSA) and Singapore Compact for CSR to contribute on chapters on Preparation of Financial Statements, the Company Secretary and Corporate Social Responsibility
The softcopy is available for free download at http://www.acra.gov.sg/Publications/Guidebook+for+Directors.htm
For those who prefer a hardcopy for handy reference, it is also available for sale at $15 (inclusive of GST), at the ACRA office at 10 Anson Road, #05-01/15, International Plaza.
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