Key points
A public accounting firm is a sole proprietorship or partnership without separate legal personality. An accounting LLP is separate from its partners, although a partner remains responsible for personal wrongdoing. A public accounting corporation uses a company structure. ALLPs and PACs must comply with their entity legislation as well as the Accountants Act.
Planning your next steps
ACRA compares PA composition, capital, insurance, fees and continuing obligations. ALLPs and PACs have a S$50,000 minimum paid-up capital requirement and prescribed professional-indemnity coverage. Do not choose solely by setup fee: consider control of public accountancy services, the ownership arrangements and ongoing governance. The detailed requirements for the selected form remain essential before registration.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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