To perform statutory audit for companies incorporated under the Companies Act and in compliance with SSAs and FRSs. Either as single company or group including local and overseas subsidiaries.
A company is exempted from audit if it qualifies as a small company as follows:
- It is a private company
- It meets at least 2 of the following criteria for immediate past two consecutive financial years:
- ✓ Total revenue ≤$10M;
- ✓ Total assets ≤$10M;
- ✓ Number of employees ≤50
For a company that is part of a group:
- Company must qualify as a small company; and
- Entire group must be a “small group”
(Quantitative computation is same as above but it is at CONSO level)
We also perform a statutory audit of a branch of a foreign company pursuant to Section 373 of the Singapore Companies Act, Chapter 50.
Our Client Portfolio
We have many years of audit experiences with over 300 incorporated entities namely;
- Travel Agencies
- Wholesale and Distributions
- Food Manufacturing
- Machinery & Engineering
- Building & Project Contractors
- Property Owners
We adopt an audit plan that is designed to provide reasonable assurance on whether the company’s accounting records are properly maintained and financial statements are free from material misstatement. When we perform audit, we add value by recommending good corporate governance practices to improve internal controls, deter and detect material fraud or error, thus providing credibility to the overall presentation of your financial position and performance. We are also able to give advice on your company’s structure and operations that can help you become more efficient.
An audit of the financial statements of the company comprises the statement of financial position, statement of profit or loss and comprehensive income, statement of changes in equity and statement of cash flows, including the notes to the financial statements and a summary of significant accounting policies.
More Information on Statutory Audit?
Simply fill up the online enquiry form below or give us a quick call at +65 6533 7393; a respective person in charge will reach out to you at the earliest convenience.