Key points
PAOC may require root-cause analysis and a targeted remediation plan. A not-satisfactory result can also lead to service restrictions, suspension, revocation or a financial penalty. The penalty limit is the lower of S$250,000 and 5% of the specified preceding-year audit turnover. During suspension the entity cannot provide or hold itself out as authorised for public accountancy services. The actual order defines its obligations.
Official source
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