AUDITING SERVICES SINGAPORE

Why Us?
 
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.
 
Why Auditing?
 
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:

 
  • Turnover/Sales is less than S$5 million, and
  • There are no corporate shareholders, and
  • Number of shareholders is less than 20 persons, and
  • Company must be a Private Limited company, and
  • All shareholders agree to audit exemption.

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.

 
Quotation  
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