APEC Economy: Brunei Darussalam

As of December 2011, a limited response had been received from Brunei Darussalam to the APEC Accounting Services Initiative questionnaire. Limited information from publicly available sources is also provided below.

Accountancy Services – General background

Authorised Auditors are regulated under Companies (Authorised Auditors) (Amendment) Rules, 2010, Companies Act (Chapter 39).

Any qualified person may apply to the Permanent Secretary of the Ministry of Finance for authorisation by the Minister of Finance to perform the duties required by the Companies Act to be performed by an auditor. The Letter of Authorisation is valid for a period of one year beginning from January until December and may be renewed for each subsequent calendar year upon payment of fee to the Permanent Secretary.

To be an authorised auditor, a qualified applicant must possess a minimum qualification as an associate member from one of the following bodies:

Licensing Requirements (Regulatory)

A licence is issued by the Minister of Finance for the provision of auditing services in this economy.

Refer to http://www.mof.gov.bn/English/Revenue/SupervisionAuditors/Pages/default.aspx

Licencing of Foreign Nationals

Foreign accountants can obtain a license to provide accountancy services in this economy.

Limited Licence

No information is available.

Professional Accounting Bodies

Organisation:

The Brunei Darussalam Institute of Certified Public Accountants

Address:

P O Box 30

City/Town:

Gadong Post Office

ZIP/ Postcode:

BE3978

Economy:

Brunei Darussalam

Email address:

bicpa@brunet.bn

Phone number:

+673 - 2233945

Website:

http://www.bicpabrunei.com/
(not active)

Levels of membership:

No information is available.

Eligibility to other bodies in the APEC economies

No information is available.

Alliance & MOUs

No information is available.

Temporary practice arrangements

No information is available.

Rules on firms and commercial association

No information is available.

Other regulatory issues

Brunei’s Deputy Finance Minister Selamat Munap indicated in an announcement that the economy had adopted international accounting standards and that all companies. To assist in the smooth transition, several rules, regulations and laws were being reviewed and amended including Brunei's Companies Act.

Additional information relevant to the Accounting profession

No additional information is available.

Contact Details

Additional information is available at the

Organisation:

Revenue Division, Ministry of Finance

Contact Name:

HMSR Haji Sulaiman

Address:

Commonwealth Drive

City/Town:

Bandar Seri Begawan

State:

Brunei Muara District

ZIP/ Postcode:

BB3910

Economy:

Brunei Darussalam

Email address:

revenue@mof.gov.bn

Phone number:

+6732383933

Website:

http://www.mof.gov.bn/English/Pages/default.aspx