Auditing is important in demonstrating a better insight of an organization, especially the finances needed to support the decision-making to improve your business.
The professionals here at SG Biz Works have the knowledge and experience to present your company’s financial records, with all of the auditing and financial accounting related matters (Valuation, IPO & RTO, fundraising etc.) analysed with the utmost precision.
Our experienced auditors are able to provide the various audit 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.
Need a public accountant to certified your revenue? Contact us by filling up the contact us form.
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
Confirm accurate financial statements
Professional auditors help to make sure that your company is abiding by the guidelines put forth by the Accountants Act, by inspecting your company’s financial records for accuracy. They will also give their recommendations to assist in helping you make a more educated assessment of your finances in the future.
Auditors will also analyse how your company handles its accounts. By following the proper accounting standards, your company will be able to evaluate the reliability of your finances to identify potential inconsistencies that could lead to fraud.
Ensure the correct internal controls
Companies need to make sure that they are following the right set of internal controls and systems; an auditor will be able to validate this by going through your company’s financial statements. Adhering to a stringent set of internal controls also protects your company’s assets from embezzlement.
Improves your company’s performance
Hiring a qualified auditor improves the overall efficiency of your company. They will inform you if your products are priced profitably, and check through your company’s risk management procedure.