The Singapore Exchange Regulation (SGX RegCo) has this past week announced several changes to the audit and property valuation requirements of SGX-listed companies. This comes after the frontline regulator made several proposals in consultation with various stakeholders about a year ago. The changes, which will be effective from Feb 12, are aimed at raising the standards required of auditors and property valuers in their dealings with companies.

Overall, market observers are positive on the development. Stefanie Yuen Thio, joint managing partner of TSMP Law Corp, says SGX RegCo is clearly sending a message to companies that it will be scrutinising accounts and valuation reports. Valuers and auditors will be held accountable if they fail to perform their duties accordingly, she adds.

“Clarity and raising the bar on standards is always a good thing,” Yuen Thio tells The Edge Singapore. “These professional reports are only as good as the professionals signing off on them are qualified and credible.”

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