The authority's main regulatory framework includes the Accountants Act, Accounting Standards Act, Business Registration Act, Companies Act, Limited Partnerships Act and Limited Liability Partnerships Act. These laws set out the rules for accounting, business registration and company governance. The Ministry of Finance also works to ensure that Singapore's business laws and standards follow international best practices in company law, accounting and corporate governance.
Singapore Budget Every year, the MOF prepares the Singapore Budget and the Minister for Finance presents the Budget to the Parliament before the new financial year begins. The Budget includes the revised Government revenue and expenditure projections for the current financial year as well as the planned government revenue and expenditures for the following financial year. Following the delivery of the Budget Statement in Parliament, Members of Parliament will debate on the statement and the proposed Budget for the following financial year. After the debate, the Parliament passes the Supply Bill and the President's assent will then be sought to allow the Bill to come into effect. Once the President gives its assent to the Supply Bill, it is then enacted as law known as the
Supply Act. The Supply Act controls the Government's spending in the following financial year. ==Organisational structure==