Latest news with #ACRA
Straits Times
27-05-2025
- Business
- Straits Times
ACRA launches playbook for students to explore accountancy careers
Mrs Chia-Tern Huey Min, chief executive of ACRA speaking at the launch of the playbook of the playbook at Revenue House on May 27. ST PHOTO: BRIAN TEO SINGAPORE - Two years after a task force was set up to reverse a shortage of young talent going into accountancy, a guidebook has been launched through which students can understand the profession better and the opportunities it offers. Teachers, education and career guidance counsellors can use the Accountancy Education and Career Guidance (ECG) Playbook to help students gain a fuller perspective on the accountancy sector and also guide them on how to enter it. The playbook was launched on May 27. Educational pathways into accountancy are highlighted in the playbook for students from various education backgrounds such as junior colleges, polytechnics, institutes of technical education and universities. The pathways detail the diplomas and degrees that students aspiring to become accountancy professionals can aim for. Besides an overview of the outlook and skills required for various roles in the field, the playbook also presents insights into career personas and emerging roles in the accountancy sector, such as sustainability reporting specialists, business advisors and information technology auditors. It also dispels common myths, such as accountancy is boring or accountants spend long hours at work. 'Accountancy is not about number crunching - it is about giving insights into the financial health of companies, engaging in forward-thinking about their financial future and helping companies make strategic and sound decisions,' said Mrs Chia-Tern Huey Min, chief executive of ACRA at the launch of the playbook at Revenue House. The ECG playbook is one of the key initiatives of the Implementation Committee for Accountancy Workforce Development, which was set up in 2023 to spark interest in the accountancy profession among students. One of the reasons was that the number of accounting degree students at universities here had fallen by more than 10 per cent in the prior five years . The number of graduates who eventually go on to become accountants or auditors had also fallen. 'The fact is that the accountancy profession offers many opportunities and diverse pathways, thanks to the formal training and professional development available to accounting professionals,' said Mrs Chia-Tern. During her opening speech, she added: 'The launch of the playbook at today's event marks the beginning of what we hope to be a sustained engagement with the schools and the Institutes of Higher Learning (IHLs). We are working with stakeholders to introduce learning journeys to potential employers for students and enhance internship experiences.' Today, about 120,000 professionals are employed in accountancy-related jobs in Singapore. Nearly 20 per cent are employed by accounting firms, which contribute about $3 billion to our annual GDP, said ACRA in a statement on May 27. The rest of the professionals are in accounting and finance functions in businesses, such as financial and insurance services, and trade and manufacturing-related sectors. An estimate in 2022 projected that by 2025, demand would rise to some 6,000 to 7,000 new accounting jobs. Join ST's Telegram channel and get the latest breaking news delivered to you.
The Sun
24-05-2025
- Business
- The Sun
Tianlong Services Unveils AI-Powered Corporate Secretarial
SINGAPORE - Media OutReach Newswire - 23 May 2025 - Tianlong Services, a corporate and accounting service provider in Singapore, has launched a new AI-driven corporate secretarial compliance suite. It is designed to simplify compliance and make robust governance accessible to startups, small and medium-sized enterprises (SMEs), and growth-stage companies. By integrating automation and intelligent workflows, Tianlong Services is transforming traditionally manual corporate secretarial compliance tasks into fast, error-resistant processes. This includes digital automation of key functions such as ACRA filings, share capital changes, board resolutions, and annual returns. 'Our goal is simple. We are looking to make corporate secretarial compliance effortless, accurate, and affordable,' said Kay Teng, CEO at Tianlong Services. 'We've reimagined secretarial work through automation, enabling businesses to focus on growth instead of paperwork.' Key Features: •AI-Driven Document Management Automates the preparation and submission of compliance documents, from director appointments to AGM minutes. •Smart KYC & Due Diligence Uses Optical Character Recognition (OCR) and third-party integrations to perform real-time verification and risk screening of clients and directors. •Predictive Compliance Monitoring (Launching Q4 2025) Flags potential filing delays, adjusts calendars for public holidays or company changes, and sends timely reminders. •Affordable Pricing With packages starting at just $218/year, Tianlong Services offers tiered plans to meet varying business needs without compromising quality or regulatory adherence. A Human-Centric Approach to Regulatory Automation Tianlong Services' hybrid model blends automation with expert human oversight. It also includes white-glove onboarding, flexible support (via email, WhatsApp, or phone), and personalised check-ins to ensure clients are comfortable with the technology. 'This is more than just a tech upgrade. By combining automation with expert oversight, we're offering businesses a more reliable way to meet regulatory obligations without the cost and complexity of traditional methods,' revealed Kay Teng, CEO at Tianlong Services. The launch of this corporate secretarial compliance solution positions Tianlong Services as a regtech disruptor, offering a clear alternative to outdated manual systems that are often costly and error-prone. With regulatory automation gaining traction in Singapore's corporate industry, the firm's AI-powered solutions arrive at a critical time for founders, compliance officers, and lean business teams seeking smarter ways to stay compliant. The issuer is solely responsible for the content of this announcement.
Arabian Post
23-05-2025
- Business
- Arabian Post
Tianlong Services Unveils AI-Powered Corporate Secretarial Compliance Solutions for Cost-Effective Compliance
SINGAPORE – Media OutReach Newswire – 23 May 2025 – Tianlong Services, a corporate and accounting service provider in Singapore , has launched a new AI-driven corporate secretarial compliance suite. It is designed to simplify compliance and make robust governance accessible to startups, small and medium-sized enterprises (SMEs), and growth-stage companies. By integrating automation and intelligent workflows, Tianlong Services is transforming traditionally manual corporate secretarial compliance tasks into fast, error-resistant processes. This includes digital automation of key functions such as ACRA filings, share capital changes, board resolutions, and annual returns. 'Our goal is simple. We are looking to make corporate secretarial compliance effortless, accurate, and affordable,' said Kay Teng, CEO at Tianlong Services. 'We've reimagined secretarial work through automation, enabling businesses to focus on growth instead of paperwork.' ADVERTISEMENT Key Features: AI-Driven Document Management Automates the preparation and submission of compliance documents, from director appointments to AGM minutes. Smart KYC & Due Diligence Uses Optical Character Recognition (OCR) and third-party integrations to perform real-time verification and risk screening of clients and directors. Predictive Compliance Monitoring (Launching Q4 2025) Flags potential filing delays, adjusts calendars for public holidays or company changes, and sends timely reminders. Affordable Pricing With packages starting at just $218/year, Tianlong Services offers tiered plans to meet varying business needs without compromising quality or regulatory adherence. A Human-Centric Approach to Regulatory Automation Tianlong Services' hybrid model blends automation with expert human oversight. It also includes white-glove onboarding, flexible support (via email, WhatsApp, or phone), and personalised check-ins to ensure clients are comfortable with the technology. 'This is more than just a tech upgrade. By combining automation with expert oversight, we're offering businesses a more reliable way to meet regulatory obligations without the cost and complexity of traditional methods,' revealed Kay Teng, CEO at Tianlong Services. The launch of this corporate secretarial compliance solution positions Tianlong Services as a regtech disruptor, offering a clear alternative to outdated manual systems that are often costly and error-prone. With regulatory automation gaining traction in Singapore's corporate industry, the firm's AI-powered solutions arrive at a critical time for founders, compliance officers, and lean business teams seeking smarter ways to stay compliant. Hashtag: #TianlongServices The issuer is solely responsible for the content of this announcement. About Tianlong Services Tianlong Services is an accounting and corporate secretary service provider in Singapore. With a focus on lean and efficient operations, the company aims to help businesses reduce operational inefficiencies while improving decision-making through simplified financial reporting and actionable insights.
Business Insider
08-05-2025
- Business
- Business Insider
This new Palantir-alumni-founded startup wants to help governments and companies control their data
Managing sensitive data across borders can be tricky. Valarian cofounders Max Buchan and Josh McLaughlin experienced that firsthand after working at crypto company CoinShares and defense tech giant Palantir, respectively. Their company, which provides data protection and management, has emerged from stealth with $7 million in additional funding, bringing its seed round to $20 million raised. National security-focused firm Scout Ventures and Artis Ventures led the round. Gokul Rajaram, a board member of Pinterest and Coinbase, also participated in the fundraise. CEO Max Buchan said the idea for Valarian came from thinking about how easily sensitive data can end up in the wrong hands. The startup's solution is ACRA, Valerian's platform that keeps data separated and tightly controlled, even when it's stored in the cloud or used by other apps. A company can use ACRA to ingest internal communications across digital platforms and retain them securely in a given domain for compliance and record-keeping purposes, for example. Buchan founded the London-based startup in 2020, and cofounder and chief operating officer McLaughlin joined in 2023. McLaughlin previously served as a ranger in the US Army and worked in business development at Palantir in Qatar, where he led the opening of the defense tech giant's Doha office. Buchan met McLaughlin in Doha and was introduced to his now cofounder through another national security-focused venture capitalist. With the new funding, Valerian plans to expand into defense, a sector that has seen a frenzy of venture investment in the months since Trump's return to office. This follows interest from its first government customer in late 2024. The company declined to disclose the client. "The government angle within the US was, 'hey, can you expand this ACRA platform to have relevance to national sovereignty?'" Buchan said. As it does with enterprise clients, Valerian's ACRA can also ingest privileged governmental communication from Signal or WhatsApp, for example, and keep it secure in a specific territory. Defense-focused investor Cody Huggins, a partner at Scout Ventures and a former ranger instructor who co-led the firm's investment in Valarian, became interested in the startup's potential to sell to the US and its allies. For this reason, Huggins backed Valarian, marking Scout Ventures' first investment in a company headquartered outside the US or Canada. "From where Valarian sits, they're positioned very well where they can sell in Europe — and they can sell across the globe — because they're a European company," Huggins told BI. "But they also can absolutely sell in the US." Huggins was also compelled by the company's stickiness with both commercial and government clients, which he said could provide some cushion against being solely defense-focused, which is "a pretty challenging space to invest in," Huggins added. Dual use — a term used in defense tech to describe a company's business application in both enterprises and governments — is becoming increasingly common among national security-focused companies looking to hedge against budget cuts to the Department of Defense and the often finicky government contracting and procurement process. Palantir, one of the most prominent dual-use examples, has both a key government business and a growing healthcare vertical. Scale AI, a startup that provides training data to companies like OpenAI, inked a deal with the Defense Department in March. Valarian competes with security companies largely in the commercial sector. Veriti, which was backed by Insight Partners and founded by Israel intelligence veterans, has its own security posture management platform. Varonis Systems, a publicly traded company, makes a data management security platform. Buchan is hoping to court government customers in the US and beyond. "We have a big US presence, but we're also able to cater to this incredibly increasing European demand," he said, "which is massive defense spending increases across continental Europe and other NATO countries."
Yahoo
07-03-2025
- Business
- Yahoo
Government acknowledges accountability failures in NRIC unmasking saga: Singapore live news
Hello to all our readers, Yahoo Singapore will be bringing you live news updates today. The editorial team will be curating the latest must-know local and international news. Top of the news, the Singapore government has acknowledged accountability failures in the NRIC unmasking saga, promising corrective actions and fair consequences for those involved. Minister Josephine Teo and ACRA's Chief Executive issued apologies for the distress caused by the incident, which exposed sensitive personal data on the Bizfile portal. The government pledged to improve communication and data protection, with a public consultation planned for 2025. Read more in our live blog below, including the latest local and international news and updates. The Singapore government has acknowledged significant accountability failures surrounding the NRIC unmasking saga, which triggered public concern over the exposure of sensitive personal data. Senior Minister Teo Chee Hean emphasised the importance of holding public servants accountable but cautioned against excessive punishment, which could undermine public sector innovation. He stressed that while accountability is crucial, the government must strike a balance between holding individuals responsible and protecting the integrity of the public service. In response to mounting scrutiny in Parliament, government officials have promised corrective actions to prevent similar incidents from occurring in the future. While MPs expressed concern over the potential repercussions for civil servants, fearing a chilling effect on future decision-making, the government has assured that consequences will be measured. This includes retraining and counselling for those involved, ensuring that staff members learn from their mistakes while maintaining public trust in the system. The incident, which came to light in December 2024, was caused by lapses in communication and coordination between the Accounting and Corporate Regulatory Authority (ACRA) and the Ministry of Digital Development and Information (MDDI). The Bizfile platform, intended to facilitate business registrations, inadvertently exposed full National Registration Identity Card (NRIC) numbers of business affiliates, sparking concerns about privacy breaches and the potential for identity theft. Minister for Digital Development and Information Josephine Teo and ACRA's Chief Executive Chia-Tern Huey Min offered apologies for the distress caused to the public. They acknowledged that the error stemmed from a misunderstanding regarding the government's plan to unmask NRIC numbers. Despite the apology, the government continues to monitor the situation closely and will consult the public in 2025 on new measures to better protect personal data. Read on SM Teo's statement on the NRIC unmasking saga here. The Singapore government has acknowledged significant accountability failures surrounding the NRIC unmasking saga, which triggered public concern over the exposure of sensitive personal data. Senior Minister Teo Chee Hean emphasised the importance of holding public servants accountable but cautioned against excessive punishment, which could undermine public sector innovation. He stressed that while accountability is crucial, the government must strike a balance between holding individuals responsible and protecting the integrity of the public service. In response to mounting scrutiny in Parliament, government officials have promised corrective actions to prevent similar incidents from occurring in the future. While MPs expressed concern over the potential repercussions for civil servants, fearing a chilling effect on future decision-making, the government has assured that consequences will be measured. This includes retraining and counselling for those involved, ensuring that staff members learn from their mistakes while maintaining public trust in the system. The incident, which came to light in December 2024, was caused by lapses in communication and coordination between the Accounting and Corporate Regulatory Authority (ACRA) and the Ministry of Digital Development and Information (MDDI). The Bizfile platform, intended to facilitate business registrations, inadvertently exposed full National Registration Identity Card (NRIC) numbers of business affiliates, sparking concerns about privacy breaches and the potential for identity theft. Minister for Digital Development and Information Josephine Teo and ACRA's Chief Executive Chia-Tern Huey Min offered apologies for the distress caused to the public. They acknowledged that the error stemmed from a misunderstanding regarding the government's plan to unmask NRIC numbers. Despite the apology, the government continues to monitor the situation closely and will consult the public in 2025 on new measures to better protect personal data. Read on SM Teo's statement on the NRIC unmasking saga here.
