SGX is tightening its regulation of auditors and property valuers who work with listed companies, in the wake of a series of accounting scandals in recent years. All companies whose main listing is in Singapore will be required to appoint an auditor registered with Acra for their financial year beginning on or after Jan 1, 2022, according to the exchange on Jan 12. That means audits of all primary-listed companies will fall under the Singapore regulatory body’s oversight. Property valuers of Singapore-listed firms are also coming in for increased scrutiny. Valuers must have at least five years of experience in valuing properties in a similar industry, and be independent of the issuer. Valuers of Singapore real estate need to be a member of SISV. “These latest rule changes heighten the standards required of auditors and property valuers in their dealings with listed companies,” Tan Boon Gin, CEO of SGX RegCo. “We expect the quality of the market and investor protection to improve.” The listing rule changes, which follow a public consultation, are effective Feb 12.... Continue Reading