TMF Singapore Achieves OSPAR Attestation For Outsourced Payroll Services

TMF Singapore, a leading provider of business services to clients operating and investing globally, has received its Outsourced Service Provider Audit Report (OSPAR) attestation for payroll, and is one of the first payroll service providers in Singapore to do so.

The attestation confirms that TMF Singapore adheres to all standards, controls and procedures expected by financial institutions (FIs).

It follows the Monetary Authority of Singapore (MAS) and Association of Banks in Singapore's (ABS) outsourcing guidelines, which require outsourced service providers working with FIs to maintain the same level of governance, rigour and consistency as the FIs themselves.

Kim Leng Siaw, Managing Director of TMF Singapore said: "Confirmation of our OSPAR attestation is great news for all of our clients, as it provides them with clarity on the integrity and effectiveness of our internal controls for payroll services. For banks and other financial institutions,