BUSINESS INSIGHT

Be a better director

Acra has two online training programmes that offer resources for new company directors and aspiring entrepreneurs

NEW directors and entrepreneurs can now access two new online training programmes to help them in their journey into the business world. Developed by the Accounting and Corporate Regulatory Authority (Acra), the Directors Training Programme (DTP) will help new company directors understand their statutory duties and responsibilities while the Essentials of Starting a Business (ESB) programme will provide aspiring entrepreneurs with essential information on starting a business. The programmes contain key information from Acra and other government agencies, such as the Inland Revenue Authority of Singapore, Central Provident Fund Board, Ministry of Manpower, Personal Data Protection Commission of Singapore and Enterprise Singapore.

Helping company directors understand their statutory duties and responsibilities

Company directors are responsible for ensuring that their companies comply with key statutory requirements under various Acts. Failure to comply can lead to fines or being prosecuted in court for the offence. The DTP helps directors understand and comply with these statutory requirements.

Directors can sign up for the online DTP to learn about:

  • The office of a director (requirements to be a director)
  • Directors’ duties and responsibilities under the Companies Act
  • Directors’ responsibilities in other relevant areas such as filing corporate income tax returns, ensuring workplace safety and health, and contributing to CPF
  • Improving the company’s productivity

Since it was launched in April 2018, over 2,800 users have signed up for the DTP. Positive feedback have been received from the participants.

“The course is very useful, especially to those who wish to start a business. It’s also good to know what the responsibilities of a company director are. The course is very informative and yet not boring,” says Espiritu Gildina Lontoc, owner of Nurture Connect and an aspiring company director.

 Notes Danny Yap, company director, Chloride Eastern Industries Pte Ltd: “Directors carry heavy responsibilities and need to be very clear of their fiduciary duties. This course has helped me understand my responsibilities as a company director better.”

 “The course has empowered me with an enhanced understanding of the duties and responsibilities of being not just a company director, but a responsible and diligent company director,” says Lawrence Chai, company director, 3E Accounting Pte Ltd.

“I have strengthened my grasp of knowledge and perspective which also allows me to confidently advise and assist my clients accordingly in the area,”

Providing aspiring entrepreneurs with essential information on starting a business

The ESB is Acra’s latest online training programme that helps aspiring entrepreneurs with all the key basic information they need to know before starting a business in Singapore. This includes essential information such as:

  • Types of business entities in Singapore
  • Business licences
  • Government grants and loans
  • Fundamentals of finance
  • SMECEN – integrated software solution for businesses
  • Filing tax returns
  • Goods and services tax
  • Contributing to CPF and MediSave
  • Personal data protection

To sign up for the DTP and the ESB programmes for free, please visit the Acra E-Learning Portal at www.biztrg.sg

Attachments: