Regulatory Alerts2021-06-29
Added
Notice 1017 Privacy of Customer Information – Conditions for Disclosure of Customer Information by Auditors
The Monetary Authority of Singapore issued Notice 1017 to establish the specific conditions under which auditors may disclose customer information to Accounting and Corporate Regulatory Authority employees. Auditors are prohibited from sharing such data unless the disclosure is strictly for conducting practice reviews of their audit work, limited to information originally provided by the merchant bank, and preceded by written notification from ACRA. This regulatory framework ensures that customer privacy is maintained while facilitating necessary regulatory oversight of audit practices.
Topics
privacy
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