SINGAPORE: The government is setting up a committee to develop the country's accountancy sector in a bid to become the leading international centre in Asia for accountancy services and professionals.

The committee will review the accountancy sector in Singapore and make recommendations for any improvements to the government.

The Committee to Develop the Singapore Accountancy Sector will comprise up to 15 accounting and business professionals.

Mr Bobby Chin, chairman of the Tote board will chair the committee. The full structure of the committee will be announced in November.

It will look at areas such as attracting international talent, and developing training to position Singapore as a prime location for the industry in Asia.

Senior Minister of State for Finance and Transport, Lim Hwee Hua, said: "That's what we are aiming to do - to really focus on attracting the best talent here and making sure that they are always the best, so the developmental aspects are equally important. Hence, the emphasis on training and education." - CNA/vm