Regulatory Alerts2005-11-21
Added
Notice 801 Appointment of Auditors
The Monetary Authority of Singapore issued Notice 801 to mandate that auditors of finance companies must be approved by the Authority pursuant to Section 41 of the Finance Companies Act. Finance companies are required to submit the name of their proposed auditor for appointment or re-appointment annually for regulatory approval. The notice also specifies that the duties of the appointed auditor are defined under Sections 41(4) and 41(5) of the Act.
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