Auditing is more than a compliance requirement — it’s an opportunity to strengthen trust, improve internal controls, and give stakeholders confidence in your business’s financial health. In Singapore, companies that meet certain criteria under the Companies Act are required to have their financial statements audited annually.
At CompanyAccountingServices.sg, we provide professional Singapore audit services that are thorough, reliable, and conducted in accordance with the Singapore Standards on Auditing (SSA). Whether you need a statutory audit, special audit, or voluntary audit, our experienced team ensures the process is smooth, efficient, and adds value to your business.
Why Audit Services Are Important
An audit is not just about checking the numbers. A well-conducted audit can help your business by:
- Ensuring compliance with Singapore’s statutory requirements.
- Building credibility with investors, lenders, and stakeholders.
- Identifying areas for improvement in internal controls and processes.
- Enhancing transparency in financial reporting.
- Reducing risks by uncovering discrepancies or irregularities early.
Whether your audit is legally required or conducted voluntarily, it serves as a seal of trust for your business.
Types of Audit Services We Provide
We offer a wide range of audit services to meet different business needs.
1. Statutory Audit
Under the Singapore Companies Act, companies that do not qualify for the audit exemption must have their annual financial statements audited. Our statutory audit service ensures:
- Compliance with ACRA and IRAS requirements.
- Preparation and review of audit reports in line with Singapore Financial Reporting Standards (SFRS).
- Smooth coordination with your management and accounting team to minimise disruption.
2. Voluntary Audit
Even if your company qualifies for audit exemption, you may choose to have an audit for reasons such as:
- Investor requirements.
- Loan applications.
- Strengthening internal controls.
- Preparing for business expansion.
We perform voluntary audits with the same level of detail as statutory audits to ensure accuracy and reliability.
3. Special Purpose Audit
Special purpose audits focus on specific aspects of your business or compliance needs, such as:
- Grant audits for government funding compliance.
- Gross turnover audits for tenancy agreements in malls.
- Project audits for construction or specific contracts.
4. Internal Audit
Our internal audit services help you evaluate the effectiveness of internal controls, risk management, and operational processes. We provide actionable recommendations to improve efficiency and safeguard assets.
5. Compliance Audit
A compliance audit checks if your business is meeting the requirements of specific regulations, industry standards, or contractual obligations.
Our Audit Process
We follow a systematic, transparent approach to ensure an efficient audit process:
- Planning & Risk Assessment – We gain a deep understanding of your business, industry, and potential risk areas.
- Fieldwork & Testing – Our team examines financial records, transactions, and internal processes.
- Evaluation – We assess findings, identify discrepancies, and discuss potential adjustments with you.
- Reporting – We provide a detailed audit report and management letter highlighting key observations and recommendations.
- Follow-Up – We work with you to address any issues and strengthen controls moving forward.
Who Needs Our Singapore Audit Services?
Our clients come from diverse sectors, including:
- SMEs that meet the statutory audit threshold.
- Larger corporations with complex operations.
- Non-profit organisations that require annual audits.
- Companies applying for grants or funding that require certified audit reports.
- Businesses with tenancy agreements that mandate gross turnover audits.
Why Choose CompanyAccountingServices.sg for Your Audit
- Experienced Professionals – With decades of experience, our auditors are highly skilled in handling diverse industries.
- Compliance-Focused – We strictly adhere to the Singapore Standards on Auditing (SSA).
- Value-Added Insights – Beyond compliance, we highlight areas for operational improvement.
- Clear Communication – We keep you informed throughout the audit process.
- Efficient Workflow – Our audit process is designed to minimise disruption to your day-to-day operations.
- Transparent Fees – We provide clear, upfront pricing without hidden costs.
Benefits of Engaging Us for Your Audit
- Peace of Mind – Know that your financial statements are accurate and compliant.
- Stronger Credibility – Gain trust from stakeholders, banks, and investors.
- Improved Controls – Receive practical recommendations to strengthen internal systems.
- Time Savings – Let our experts handle the complexity while you focus on running your business.
- Industry Knowledge – We understand the unique compliance needs of different sectors.
Frequently Asked Questions (FAQs)
1. How do I know if my company needs an audit?
Under the Companies Act, companies are exempted from audit if they qualify as a “small company” — meeting at least two of these three criteria for the past two financial years:
- Total revenue ≤ S$10 million.
- Total assets ≤ S$10 million.
- Number of employees ≤ 50.
If your company does not meet the exemption, you must undergo an audit.
2. How long does an audit take?
This depends on the size and complexity of your business. On average, audits take between 2 to 6 weeks.
3. What documents are required for an audit?
Typically, we will need your financial statements, bank statements, invoices, receipts, contracts, and relevant supporting records.
4. Can you assist with grant or project audits?
Yes, we regularly conduct audits for government grants, tenancy agreements, and specific projects.
Take the Next Step Towards Compliance & Credibility
Whether you require a statutory audit, a voluntary audit, or a specialised audit, CompanyAccountingServices.sg is ready to provide a thorough and professional service. We are committed to delivering accurate results and valuable insights that benefit your business.
Contact us today to discuss your audit requirements.
📞 Call Us: +65 9863 8665
📧 Email: Tommyksh@shkoh.com.sg
📍 Address: 7500A Beach Road, The Plaza, #09-324, Singapore 199591
Let us help you meet your compliance obligations and strengthen trust in your business.