Singapore Companies
STATUTORY AUDIT SINGAPORE
A clear audit process, without unnecessary friction.
Independent, practical and well-organised statutory audits for Singapore companies. We work closely with management and finance teams to keep your audit clear, efficient and on track.
Singapore Companies
SMEs & Growth Businesses
Independent Auditor’s Report
SMEs & Growth Businesses
Independent & professional
Audit and assurance work with a clear engagement scope.
SME-friendly approach
Practical communication with management and finance teams.
Singapore-focused
Services designed around local business and reporting needs.
Does your Singapore company need an audit?
AUDIT EXEMPTION
Not every Singapore company is required to undergo a statutory audit. Under Singapore’s current small-company audit exemption framework, a private company generally needs to satisfy at least two of the following three quantitative criteria, subject to the relevant financial-year rules.
Annual Revenue
One of the three quantitative criteria.
≤ S$10m
Total assets
Based on the applicable financial statements.
≤ S$10m
≤ S$10m
≤ S$10m
Employees
≤ 50
Based on full-time employees at financial year-end.
Important: The assessment is not simply a one-year test. Existing companies generally consider the immediate past two consecutive financial years. If the company is part of a group, group-level conditions also apply. Newly incorporated companies have specific rules. The regulatory framework may also change, so confirm the current position for your circumstances.
Reference: Accounting and Corporate Regulatory Authority (ACRA), Singapore — Audit exemptions: Small company concept.
A structured engagement from scope confirmation to completion.
01
We learn about your business, accounting environment and key financial reporting areas.
02
We identify significant risk areas and prepare an audit approach tailored to your company.
03
We perform audit procedures over material balances, transactions and supporting records.
04
We complete the engagement and issue the appropriate independent auditor’s report.
02
03
04
Prepare efficiently
Tip: Well-organised accounting records and complete supporting schedules can reduce follow-up questions and help the engagement progress more smoothly.
The exact list depends on the engagement. These are common starting documents that help us understand the scope and prepare our request list.
✔ Financial statements
✔ Trial balance & general ledger
✔ Bank statements & reconciliations
✔ Sales and purchase records
✔ Fixed asset schedules
✔ Payroll records
✔ Material contracts & agreements
✔ Supporting schedules for key balances