Yip Hon Weng on Accountants (Amendment) Bill

Singapore is an established international financial centre, but it must stay abreast of global developments and consistently improve, said MP Yip Hon Weng. Speaking in Parliament on Monday (Oct 3), he said the Bill will ensure that the information received by investors is transparent and of high quality. He hopes that more Singaporean students will be attracted to accounting as a profession, amid the hunt for local talent. Mr Yip said good local talent, coupled with a strong legislative framework buttressed by this Bill, will translate into more efficient and secure investment decisions. This also equates to higher returns and greater investor confidence, thereby entrenching Singapore's position as a global financial centre. Mr Yip also sought clarifications on the Bill. He wanted to know the estimated cost of compliance. He also asked if the Government would provide subsidies during the easing-in period. He stressed the need for upskilling and asked if the Government would provide avenues for training.