An audit is a detailed, systematic examination and verification of a company’s financial records, accounting practices, and overall financial health. It is important in demonstrating a better insight of an organization, especially the finances needed to support the decision-making to improve your business.
Our experienced auditors are able to provide the various auditing outsourced services, ranging from:
For a company with its financial year beginning prior to 1 July 2015:
For a company with its financial year beginning on or after 1 July 2015, the Company must qualify as a small company for the immediate past two consecutive financial years.
A company qualifies as a small company if (a) it is a private company in the financial year in question; and (b) it meets at least 2 of 3 following criteria for immediate past two consecutive financial years:
(i) total annual revenue is not more than $10m;
(ii) total assets is not more than $10m;
(iii) no. of employees is not more than 50.
For a company which is part of a group, to qualify to the audit exemption:
(a) the company must qualify as a small company; and
(b) the entire group must be a “small group”
For a group to be a small group, it must meet at least 2 of the 3 quantitative criteria on a consolidated basis for the immediate past two consecutive financial years.
If your company is subject to annual audit requirement, we work with an external audit partner in order to maintain independence and objectivity of the work performed. The fee listed here is our external audit partner’s estimated audit fee for a company with low number of transactions for the year.
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Institutions which are established for charitable purposes are required to have a charity audit. Based on IMC’s recommendations, All Institutions of a Public Character (IPCs) have to comply with FRS and RAP 6 for charities issued by the Institute of Certified Public Accountants of Singapore. Our auditors are ready to serve you with the utmost efficiency and professionalism.
Special audit is provided for the exempt private companies (EPT), non-corporate entities such as sole traders, associations, charitable trusts, clubs, Management Corporation Strata Title (MCST), and foundations.
We perform different special audit engagement base on the requirements. There are some special purposed audit in Singapore, the common one is Audit of Gross Turnover, which requested by the landlord, or other special requirement from government authority.
We also provide agree-upon procedure, which we will agreed with the management and to report on factual findings. However, there was no assurance is expressed
Audits help ensure a company is adhering to relevant accounting standards, regulations, and legal requirements.
An independent audit provides stakeholders (e.g. investors, lenders, regulators) with confidence in a company’s financial reporting.
Audits can uncover opportunities to improve financial processes, controls, and overall business performance.
Audits can help identify and mitigate the risk of financial fraud or mismanagement.
Our team of seasoned corporate audit professionals delivers insightful, high-quality audits across diverse industries, offering cost-effective solutions.
We understand each organization’s unique needs and challenges. Our audit services are fully customizable to meet your specific requirements.
Stay compliant with the latest audit standards and regulations. Our team keeps you updated on changing tax laws and ensures compliance.
Our certified auditors help optimize expenses by streamlining inventory, workforce, and other areas, while offering competitive audit fees.
Receive detailed audit reports with recommendations to improve financial processes, controls, and performance. We help create customized financial tracking systems.
Outsource finance, payroll, and tax tasks to our experienced professionals, allowing you to focus on revenue-generating activities..
At SG Biz Works, we follow a comprehensive, multi-step corporate audit process to ensure a thorough and efficient engagement:
We begin by gaining an in-depth understanding of your business, its operations, and your specific audit requirements. This allows us to develop a customized audit plan.
Our team will meticulously review your financial records, accounting practices, and supporting documentation to collect all relevant information.
We utilize advanced analytical techniques to verify the accuracy and integrity of your financial data, identify any discrepancies or risks, and assess the overall financial health of your organization.
Upon completing the audit, we will provide you with a detailed report outlining our key findings, conclusions, and actionable recommendations to enhance your financial processes and controls.
Even after the audit is complete, we remain available to provide any additional guidance, advice, or support your organization may require.
A non-statutory audit is voluntary, while a statutory audit is legally required for certain companies to ensure compliance with accounting standards and provide assurance to stakeholders. Statutory audit services are essential for companies in Singapore that meet the legal criteria.
Statutory audits are conducted by independent, external auditors following stringent standards, providing objective assessment. For building stakeholder trust, companies in Singapore often prefer a statutory audit service over internal audits.
Yes, a statutory audit is compulsory in Singapore for public companies, companies limited by guarantee, and those meeting certain revenue, asset, or employee criteria as per the Companies Act.
A corporate audit service involves a comprehensive audit of a company’s financial statements, internal controls, and operations, typically undertaken by large corporations or multinationals. It evaluates compliance and provides recommendations for improving corporate governance and risk management.
Singapore Statutory Audit Service (for Active Company) From
S$ 2, 500 (Per Audit)
Recommended For The Budget Conscious
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