Taking the Committee to Develop the Accountancy Sector (CDAS) final report as our guide, the SAC’s goal is to transform Singapore into a leading global accountancy hub for the Asia-Pacific region by 2020. In fulfilling this mission, the SAC seeks to uphold the values of being relevant, insightful, collaborative and advocative.
The SAC traces its roots to the publication of the CDAS final report in April 2010. The 10th recommendation of the report was: “To establish a Singapore Accountancy Council. The objective of [which] is to transform Singapore into a leading global accountancy hub through: Overseeing the accountancy sector’s strategic direction and ensuring the efficient and effective use of incentive programmes to develop the sector; establishing a strong network between Singapore and the international accountancy community and stakeholders; and fostering thought-leadership, research and development activities for accountancy services and their related fields.”
The SAC will work closely with all stakeholders from the accountancy profession and business community. Together, we will drive the implementation of initiatives that will create a leading global accountancy hub in Singapore.Mr Michael Lim Choo San
In September 2010, 11 leading members representing key sectors were appointed to the Pro-Tem SAC to help realise the recommendations of the CDAS final report. In November 2012, the SAC Bill received its first reading in Parliament; following its 2nd reading in January 2013, the bill was passed and the SAC was enacted by legislation.