Working in the corporate world asks for discovering networks and establishing connections. But finding out the relationship between a person from a company and establishing a connection is not as easy as it may sound. When dealing with an enormous set of databases, this task becomes like a nightmare. But now, there is a way out for this. It is the ACRA entity search feature.
What is ACRA?
To understand the importance of the entity search option, one needs to know about ACRA first. It is the short form for Accounting and Corporate Regulatory Authority (ACRA). They aim to create a reliable and vibrant business environment by achieving synergy between corporate compliance monitoring, disclosure requirements, and statutory audit in the regulation of public accountancy. They also have a portal wherein one can search for any registered entity. Hence, businesses can verify if their partners are registered to avoid fraud.
How is ACRA helpful?
ACRA has the following responsibilities to fulfill.
- It administers the Acts and authorities related to accounting and corporate regulations.
- It is supposed to report and suggest changes (if needed) on registration and regulatory norms of business entities, corporate service providers, and public accountants.
- A repository is also established and administered for documents and relevant information of business entities, corporate service providers, and public accountants and providing these to the public.
- It also represents the government of Singapore internationally on any matter concerning registration and regulatory norms of business entities, corporate service providers, and public accountants.
- It also spreads awareness among the masses on upcoming business structures and good corporate governance systems.
Business entity search
If a business needs to verify the registration status of their partner or any prospect, they can do so using acra entity search. It is very easy to check whether or not a business or organization is registered with ACRA.
One can visit Bizfile+ and use the search bar on the top-flight corner. They can either search for the UEN or the name. If they find the entity in the search results, it shows that it is registered with ACRA. This is a very quick and easy way to verify in contrast to the traditional looking for connections.
Hence, it is safe to say that ACRA is like the one-stop solution for any matter concerning regulation and registration of businesses and related activities. Further, it represents the government internationally, proving reliability and trustworthiness.