|We are Licensed Public Accountants and Certified Public Accountants (CPA) (now known as Chartered Accountants) in Singapore approved by the Accounting and Corporate Regulatory Authority (ACRA) , a company registry ; we provide auditing services, financial certification, sales certification , audit on sales , audit related services and audit tax advisory.|
|Auditing is required for all companies in Singapore unless your company is exempted from audit.
PREVIOUSLY: Prior to financial year ended 30.6.2015, A company is exempted from audit if your company meet all of the following conditions:
NOW : For financial year commencing on or after 1 July 2015
A small company is eligible for audit exemption. A new small company audit exemption is applicable to companies in respect of financial years commencing on or after 1 Jul 2015.
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 <= $10m;
(ii) total assets <= $10m;
(iii) no. of employees <= 50.
For a company which is part of a group ( means Company + Company’s subsidiaries + Holding company + Holding company’s subsidiaries etc ):
(a) the company must qualify as a small company; and
(b) entire group must be a “small group” to qualify to the audit exemption.
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.