Most of Singapore Companies qualify to be exempted from audit as they satisfy the criteria of small companies.
A “small company” in Singapore refers to a private limited company that has at least two of the following:
- Total annual revenue of no more than 10 million Singapore Dollars;
- Total gross assets as at the end of the financial reporting period of no more than $10 million;
- Total number of employees as at the end of the financial year of no more than 50.
Although, unlike small companies, all public companies in Singapore must have their accounts audited.
Even though it is not required, small Singapore companies may wish to prepare an independent auditors’ report. This is a common practice when the business is being prepared to be sold or stakeholders are in negotiations with external investors.
Our professional team can assist you in dealing with Singapore auditors efficiently. More specifically, we can guide you throughout the whole process of auditing – from the selection of appropriate professional auditors most suitable for the business, to the finalization of the auditors’ report.
Please contact us if you require assistance with your compulsory or voluntary audit.