Audited financial statements are required as part of the company financial reporting and compliance process for non-exempt companies.
We adopted an audit plan that is designed reasonable assurance that the company’s accounting records and financial statements are presented fairly and not misrepresented. While we are your auditor, we can add value by helping you drive good corporate governance to improve controls, deter and detect material fraud and errors thus providing credibility to your financial report statements. We are also able to give advice on your company structure and operations that might help you become more efficient.
Nevertheless, our key role is to be the guardian of your shareholders’ interests.
Key Benefits of an Audit
While not designed specifically for such, the auditing process may uncover significant fraud or errors. An audit increases the possibility of discovery of fraud and acts as a deterrent. Potential losses due to fraud usually far surpass the cost of any audit. Significant weakness noted in existing systems of internal control will usually be reported to the entity by the auditor. Such reporting to management facilitates continuous cost-effective improvements in internal controls which protects value and enhances the quality of accounting and financial reporting of the entity. Even if not required to do so by external parties, companies may want to have its financial statements audited, especially if it is not prepared by a suitably qualified accountant.
We provide auditing services for the following types of reports:
- Statutory financial statements for companies and branches of foreign companies comply with the Singapore Financial Reporting Standards (FRSs) and Companies Act, 1967
- Management Corporation Strata Title (MCST) financial statements as required by Building Maintenance and Strata Management Act
- Financial Statements of societies and co-operatives
- Charities and IPCs audit
- Special purpose audit/ certification
- Childcare subsidy audit
- Retail sales/tenant annual gross turnover
- Claim summary of projects qualifying cost
- Economic Development Board (EDB grant claim)
- Income verification for self-employed persons
- Engagement to perform Agreed-Upon Procedures (SSRS 4400)
Non-Statutory audit services
Non-Statutory audits for non-corporate entities such as partnerships, clubs, associations and charitable bodies and internal audits can drive better management control, proactive risk and compliance management, good corporate governance and continuous process improvements.