Ernest Fok is the co-founder of Quality Accountants Pte Ltd, which provides incorporation, accounting, corporate secretarial and other consultancy services to companies, especially small and medium enterprises in Singapore. He is also the co-founder of FE Advisory Pte Ltd. Through FE Advisory Pte Ltd, Ernest serves as a consultant to various public accountants and public accounting firms in Singapore. He is regularly involved in pre-issuance and post-issuance review of audit engagement files, as well as provision of advisory services on regulatory reviews such as those under the Accountancy and Corporate Regulatory Authority’s (ACRA) Practice Monitoring Programme (PMP), Ethics Pronouncement 200 (EP 200) and Singapore Standard on Quality Control No. 1 (SSQC 1) reviews. He is also currently the director for these 2 companies. Prior to this, he was the Head of the Practice Monitoring Department (PMD) in ACRA. The PMD supports ACRA in its strategic objective of promoting high quality audit and corporate financial reporting through the administration of the Practice Monitoring Programme, which includes performing practice reviews of audits carried out by public accountants in Singapore. PMD also supports ACRA’s regulatory efforts in monitoring events and trends in the local and international marketplace and carries out other regulatory activities on the work and independence of public accountants when required.
Ernest has over 15 years of audit and inspection experience. He has extensive experience in the audits and inspections of financial institutions and companies across various industries, including manufacturing, hotels, pharmaceuticals, telecommunications, aerospace and defense, asset management, logistics, construction, property developers, marine, shipbuilding and trading in both Big-4 and mid-tier audit firms. He has facilitated at local seminars for public accountants and CFOs and overseas inspection workshops attended by leading audit regulators from various countries. He has also provided training to staff in the audit firms on a range of accounting and auditing topics.
Ernest holds a Bachelor of Accountancy (1st Class Honours) Degree from Nanyang Technological University. He is a Chartered Accountant and a member of the Institute of Singapore Chartered Accountants (ISCA). He is a member of the Singapore Institute of Directors. He is also a Certified Advisor of Xero, the leading cloud accounting software. He was also a recipient of the ICPAS (currently known as ISCA) scholarship.