Quality financial information is important for vibrant and strong markets.
More than ever, suppliers, investors, customers, financial institutions, corporate executives and many more are asking for timely and reliable financial statements to obtain a more accurate picture of the business.
It is crucial that the market remains confident in the level of integrity, transparency and quality of financial reporting.
Therefore, Accounting and Corporate Regulatory Authority (ACRA) has commenced a Financial Reporting Surveillance Programme to enforce against poor financial reporting that leads to unreliable information and/or non-compliance with SFRSs.