Preparation of true and fair Financial Statements is crucial to all Companies as required by the Companies Act.
We aim to provide our clients with Financial Statements that is prepared with care and professional competence.
Our company provides both audit services and compilation of Financial Statements. We can ensure that our reports comply with the Singapore Financial Report Standards (SFRS).
A full set of Financial Statements comprises of:-
- Income Statement (Profit & Loss Account)
- Statement of Financial Position (Balance Sheet)
- Cash Flow Statement
- Changes in Equity
- Notes to Financial Statements
Auditing of Report is only required if the Company has
- More than 50 employees
- Assets more than $10 million
- Annual revenue more than $10 Million
- Special request for audit by Building Construction Authority, Singapore Tourism Board, Banks or other creditors
Companies that are exempted from audit requirements are not required to have their accounts audited. Instead, they will prepare unaudited accounts for purposes of AGMs and filing with ACRA/IRAS.