Singapore will soon make the financial statements of all charity organizations available on an official Charity Portal shortly, the Office of the Commissioner of Charities said on Wednesday.
This is part of the changes in regulations made by the Commissioner of Charities to better protect charities and donors following the Charities Act Amendment Bill that was passed in parliament in 2010.
Now all externally-audited charities, including all charities set up as companies, and all other charities with annual income or expenditure over 500,000 Singapore dollars (393,701 U.S. dollars), will have to post a summary of their financial information online on the Charity Portal. Full story
