How to Maintain Accurate Records for ACRA Compliance
- Aug 1
- 2 min read
31 July 2025
Editor: ET
In Singapore’s competitive corporate landscape, regulatory compliance is more than a box-ticking exercise—it’s a cornerstone of credibility, investor confidence, and operational stability.
The Accounting and Corporate Regulatory Authority (ACRA) requires every registered company to maintain accurate and up-to-date records. Non-compliance not only risks penalties but also undermines a company’s professional reputation.
With expert corporate secretarial services like Expede’s Singapore-based solutions, businesses can ensure seamless compliance with ACRA requirements while focusing on growth.
Further Reading: How Good Accounting Supports Business Longevity in Singapore
Why Accurate Record-Keeping is Critical for ACRA Compliance
ACRA’s compliance framework is designed to promote transparency and good governance. Maintaining accurate records:
Prevents costly penalties – Late or incorrect filings can lead to fines or even prosecution.
Enhances investor confidence – Clear corporate governance builds trust with stakeholders.
Supports smooth audits – Proper documentation ensures readiness for audits or inspections.
Improves business decisions – Accurate data empowers directors to make strategic choices.
Core Records Every Singapore Company Must Maintain
1. Statutory Registers
These include:
Register of Members (shareholders)
Register of Directors, Secretaries, and Auditors
Register of Charges
These registers reflect the company’s legal structure and must be updated promptly following any changes.
2. Meeting Minutes
Annual General Meetings (AGM) – Minutes must be kept as an official record of shareholder approvals and decisions.
Board of Directors Meetings – Key business and operational decisions must be documented for legal compliance and corporate accountability.
3. Financial Statements & Accounting Records
Companies must prepare financial statements in accordance with Singapore Financial Reporting Standards (SFRS).
Accounting records should capture all transactions, assets, liabilities, and profits/losses.
Small companies may qualify for audit exemptions but still need accurate statements for ACRA and IRAS.
Best Practices for Maintaining ACRA Compliance
1. Engage a Professional Corporate Secretary
Under Singapore law, every company must appoint a corporate secretary within six months of incorporation. Firms like Expede help ensure that:
All registers are updated in real-time.
Annual Returns and other ACRA filings are completed on time.
Statutory deadlines are tracked and met without error.
2. Implement Digital Compliance Tools
Digital filing systems reduce manual errors, improve accessibility, and maintain backup copies of all statutory documents—ensuring compliance even during audits.
3. Conduct Quarterly Compliance Reviews
Regular internal reviews allow businesses to identify gaps before annual deadlines. This approach prevents last-minute compliance stress and builds a consistent record-keeping habit.
Further Reading: GST e-Filing in Singapore: How to Authorise Users the Right Way
ACRA Compliance: A Continuous Process
Compliance is not a once-a-year sprint—it’s a year-round discipline. Companies that maintain accurate records throughout the year reduce legal risk, build a trustworthy reputation, and stay focused on growth without administrative roadblocks.
For Singapore businesses looking for professional guidance, Expede’s experienced corporate secretarial services provide the expertise needed to navigate ACRA’s regulatory landscape with confidence.
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