RegAlert
2021-06-29

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MAS Notice 1007 Appointment of External Auditors

Merchant Banks in Singapore must submit annually for the Authority's approval the name of the auditor they propose to appoint or reappoint for each financial year. These entities are required to maintain a robust process for considering the appointment, reappointment, and removal of an auditor, taking into consideration the auditor's knowledge, independence, competence, and effectiveness. This Notice takes effect on 1 July 2021.

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Notices

Last Revised Date: 29 June 2021

Notice 1007 Appointment of External Auditors

Requirements for all merchant banks on the annual appointment of auditors.

Appointment of Auditors

Issued pursuant to:

Banking Act (Cap. 19)
section 55(1)

and
section 58

Applies to:

Merchant Bank (Locally Incorporated)

,

Merchant Bank (Branch)

View Notice

Notice 1007 Appointment of External Auditors

(540.9 KB)

This notice sets out the requirements for all merchant banks in Singapore to seek MAS’ approval to appoint or re-appoint an auditor annually to carry out the duties specified in section 58 of the Banking Act.

01 Jul 2021
MAS Notice 1007 dated 29 June 2021 takes effect.

01 Jul 2021
MAS Notice 1007 dated 1 November 1985 (81 KB) is cancelled

.

Requirements for merchant banks on the annual appointment of auditors.

Establishes the Monetary Authority of Singapore (MAS) and gives it the authority to regulate the financial services sector in Singapore.

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Notice No. 1007 of 1985Notice No. 1007 of 1985MAS Notice 1007 Appointment ofExternal Auditors2021-06-29 · this documentMAS Notice 1007 Appointment of External Auditors (2021-06-29)
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