The Mission of the Ministry of Finance is to create a better Singapore through Finance.
Under the Mission Statement, the main regulatory statutes are Accountants Act, Accounting Standards Act, Business Registration Act, Companies Act, Limited Partnerships Act and the Limited Liability Partnerships Act. The emphasis of our regulatory policy is on development, rather than control. We aim to collaborate with industry experts to make Singapore a world-class financial and business hub.
We actively review our rules to ensure they remain relevant to the business and financial environment. This is done in close consultation with industry experts and key stakeholders. Given the rapid rate of technological development and a fast moving environment, our regulatory policies and statutes must keep pace.
In designing regulatory policies, we consider all viewpoints, but with priority given to Singapore's long term interest. To establish Singapore as an international business and financial centre, we work to ensure comparability with international standards and best practices in areas such as company law, accounting standards and corporate governance principles.