Key Points of Accountant's Signature in Singapore Audit Reports, Explained in One Article

The Significance of Accountant Signatures in Singapore Audit Reports

In the auditing profession, a signature is more than just a formal requirement-it represents legal accountability. As one of the world's leading financial centers, Singapore enforces strict regulations on its audit industry, particularly concerning the signing requirements for accountants. Recently, with the release of a new professional regulatory framework by the Accounting and Corporate Regulatory Authority ACRA, the issue of accountant signatures in audit reports has once again drawn attention.

What exactly are the rules regarding accountant signatures in Singapore audit reports? By the end of this article, you will have a clear understanding of the key points.

1. Basic Requirements for Signatures

According to the regulations set by the Council for Registered Auditors CRA and ACRA, all financial statements and audit reports submitted to the Accounting and Corporate Regulatory Authority must be signed by a qualified practicing accountant-either a Registered Public Accountant RPA or a Chartered Accountant of Singapore.

Signatures typically appear at the end of the audit report and must meet the following conditions

1. Handwritten or Electronic Signature

As per updated guidelines issued by ACRA in 2025, electronic signatures that comply with the standards of the Electronic Transactions Act are now permitted. This means that audit reports submitted online may use legally compliant digital signatures.

2. Full Name and Practice Number

The signatory must include their full name and individual practice number e.g., Practice No S1234567A, allowing for traceability and verification.

3. Firm Information

Below the signature, the accounting firm’s name, address, and contact details are usually included to ensure clear identification of the responsible party.

2. Legal Responsibility Behind the Signature

A signature is not merely a procedural step; it signifies that the auditor assumes legal responsibility for the audit findings. If material misstatements or omissions are found in an audit report, the signing accountant may face investigation or disciplinary action.

For example, in early 2025, ACRA penalized a local small accounting firm for multiple instances of missing required signatures in its audit reports. As a result, the firm was suspended from practice for three months, and the relevant signatories were placed on a watchlist.

This case serves as a reminder that signatures are a critical part of audit quality control-any oversight can lead to serious consequences.

3. Joint Signing and Partner Responsibility

In large audit engagements, multiple certified public accountants may be involved. In such cases, the signing process differs slightly

Lead Auditor Signature

Usually provided by the engagement partner, representing the entire audit team’s responsibility for the report.

Partner Review Signature

In certain situations, a firm partner may also sign the report, indicating that they have reviewed and verified the audit work. This dual-signature system enhances internal quality control and aligns with international best practices.

According to guidance issued by the Institute of Singapore Chartered Accountants ISCA in June 2025, all mid-sized and larger firms are advised to implement the partner review signature mechanism when issuing audit reports for listed companies.

4. Example of a Signature Format

To illustrate, here is a typical format used in Singapore audit reports

```

Signature

John Tan Wei Ming

Chartered Accountant of Singapore

Practice No S1234567A

ABC Accounting LLP

123 Orchard Road, Singapore 238857

```

As shown, the signature includes not only the handwritten or digital mark but also the full name, professional designation, practice number, and firm information-all of which are essential components.

5. Digital Transformation and Signature Changes

With the acceleration of digital transformation, Singapore has been promoting the digitization of audit reporting. ACRA’s BizFinx platform aims to enhance corporate financial reporting efficiency. Consequently, the use of electronic signatures has become increasingly common.

However, it is important to note that while electronic signatures are accepted, they must meet specific security and technical standards. For instance, only signatures authenticated via digital certificates are considered valid. Firms must also retain records of these digital signatures for future audits.

6. Common Misconceptions and Key Considerations

In practice, some businesses and firms overlook the importance of proper signatures or make the following mistakes

Blurry or illegible signatures, or using a stamp without a handwritten signature

Using non-registered accountants to sign

Omitting the practice number

Multiple signatures without clearly identifying the lead auditor

These issues can compromise the legality and credibility of audit reports, potentially leading to rejections or corrective actions by ACRA during annual reporting submissions.

Conclusion

While the act of signing an audit report may seem simple, it carries significant legal and professional implications under Singapore’s regulatory framework. Understanding the form, legal responsibilities, joint signing mechanisms, and evolving digital trends surrounding signatures is crucial for both businesses and auditors.

For companies, selecting an audit firm that complies with signature requirements is essential. For professionals, adhering to signature protocols reflects not only personal competence but also contributes to maintaining the integrity of the accounting profession.

Mastering these key points helps streamline the audit process and ensures more reliable financial disclosures for businesses operating in Singapore.