Gain clarity and confidence in your organisation’s financial health with our professional audit services in Singapore. At SG Biz Works, we provide comprehensive statutory and non-statutory audit services designed to meet the unique needs of businesses across diverse industries. From compliance to operational insights, we ensure your organisation is well-positioned for growth and success.
What is an Audit?
An audit is a systematic examination of a company’s financial records and operational practices to ensure accuracy, compliance, and transparency. Audits provide stakeholders with confidence in your financial reporting and uncover opportunities to improve your processes.
In Singapore, audits are crucial for meeting regulatory requirements under the Companies Act while fostering trust with investors, lenders, and other key stakeholders.
Our Audit Services
At SG Biz Works, we offer a range of audit services tailored to your business requirements:
Statutory Audit Services (From S$2,800 Per Audit)
Statutory audits are legally required for companies that meet specific criteria under the Singapore Companies Act. These include public companies and private companies that exceed the audit exemption threshold.
Eligibility for Audit Exemption:
For companies incorporated after 1 July 2015, an audit exemption applies if they qualify as a small company for the past two consecutive financial years. Criteria include:
- Total annual revenue of ≤ S$10 million.
- Total assets of ≤ S$10 million.
- ≤ 50 employees.
For companies part of a group, the group must qualify as a small group based on the same thresholds.
Rental and Sales Audit Services (From S$800 Per Audit)
Landlords or government authorities often require certified revenue audits. Our team specialises in verifying gross turnover and other revenue metrics to meet compliance standards.
Special Audit Services (Custom Pricing)
Tailored for exempt private companies (EPCs), charities, clubs, and foundations, our special audits ensure compliance with unique regulatory requirements. Common services include:
- Audit of Gross Turnover.
- Financial reviews for charitable trusts and associations.
Agree-Upon Procedures
We collaborate with your management team to perform specific procedures based on agreed requirements. This engagement is ideal for targeted financial assessments without the need for full assurance.
Charity Audits (Custom Pricing)
Charities and Institutions of a Public Character (IPCs) must comply with FRS and RAP 6 for Charities. Our experienced auditors ensure your institution meets all regulatory and reporting requirements.
Why Choose SG Biz Works for Audit Services in Singapore?
Expertise Across Industries
Our team of certified auditors has extensive experience serving industries such as retail, hospitality, manufacturing, and technology. We deliver accurate, actionable insights tailored to your business.
Tailored Audit Solutions
We understand that every organisation is unique. Our flexible approach ensures your audit process aligns seamlessly with your goals, whether you’re an SME, a multinational corporation, or a non-profit organisation.
Regulatory Compliance
Stay updated with the latest audit standards and regulations, including changes in the Singapore Companies Act. We help you avoid costly penalties by ensuring full compliance.
Cost-Effective Pricing
Our audit packages are designed to suit businesses of all sizes, with transparent pricing starting from S$800. Save time and resources while receiving top-notch service.
Actionable Insights for Growth
Beyond compliance, our audit reports provide recommendations to improve financial controls, streamline operations, and enhance your company’s overall performance.
How Our Audit Process Works
At SG Biz Works, we follow a meticulous process to ensure accurate and efficient audits:
1. Onboarding and Planning
- Understand your business needs and audit requirements.
- Develop a tailored audit plan aligned with your goals.
2. Information Gathering
- Review financial records, accounting practices, and supporting documentation.
- Identify areas requiring additional focus.
3. Analysis and Validation
- Perform detailed tests and analyses to validate the integrity of your financial data.
- Identify discrepancies or areas of concern.
4. Reporting and Recommendations
- Deliver a comprehensive report with findings, conclusions, and actionable recommendations.
5. Ongoing Support
- Offer post-audit guidance to help you implement improvements and maintain compliance.
Frequently Asked Questions (FAQs)
What is the difference between statutory and non-statutory audits?
Statutory audits are mandatory under Singapore law for companies meeting specific criteria. Non-statutory audits, on the other hand, are voluntary and conducted to address specific needs, such as stakeholder assurance or internal performance reviews.
Who needs a statutory audit in Singapore?
Public companies, companies limited by guarantee, and private companies that exceed the audit exemption threshold require statutory audits.
What are the benefits of an audit?
Audits ensure compliance, detect potential fraud, provide transparency to stakeholders, and uncover opportunities for financial and operational improvement.
How long does an audit take?
The timeline depends on the scope and complexity of the engagement. Typically, audits for SMEs take 2–4 weeks, while larger audits may take longer.
How much do audit services cost?
Our statutory audit services start from S$2,800, with other packages customised to your business’s specific needs.
Take the First Step Toward Financial Confidence
Let SG Biz Works be your trusted partner for all your audit services in Singapore. Whether you need a statutory audit, charity audit, or a special-purpose engagement, our team of seasoned auditors is here to guide you every step of the way.
Contact us today to schedule a consultation or request a personalised quote. Let’s build a transparent and compliant financial future for your business.
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