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raymond@pwco.com.sg

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Raymond Teo

About Raymond Teo

Raymond is a Chartered Accountant of Singapore, who has more than 15 years of collective experience in an international accounting firm and mid-tier firm. He is currently registered Public Accountant with the Accounting and Corporate Regulatory Authority (“ACRA”) in Singapore, and also a member of Institute of Singapore Chartered Accounts (“ISCA”) and ASEAN Chartered Professional Accountant.
Partner, Audit and Assurance

Quick Guide: IAS 20 – Accounting for Government Grants

By |2020-06-30T21:07:57+08:00June 30th, 2020|Featured, Guides|

This year, the COVID-19 crisis has adversely impacted the global economy. Singapore is no exemption, with negative effects and losses caused by the crisis and the consequent circuit breaker measures implemented to prevent the virus’ spread. The local government has thus announced various support schemes including several government grants to [...]

Singapore Guide: ISCA FRB 6 – Accounting for Jobs Support Scheme

By |2020-06-30T21:06:38+08:00June 30th, 2020|Featured, Guides|

This year, the COVID-19 pandemic has inevitably adversely impacted the global economy. Singapore companies and businesses were negatively impacted by this health crisis and the consequent circuit breaker measures implemented to prevent the spread of the virus. The Singapore government has thus announced various support schemes in the form of [...]

Circuit Breaker Measures for Singapore Company Audit Practices

By |2020-05-29T13:55:15+08:00May 29th, 2020|Audit, Guides|

The ongoing COVID-19 pandemic and corresponding Circuit Breaker regulations have had a major impact on many companies and businesses, not just financially but also in administrative matters. Statutory requirements and financial audit practice are no exemption to these operational measures and changes in Singapore.    In recognition of these administrative [...]

Singapore Standards on Auditing: Key Facts

By |2020-03-31T18:45:13+08:00March 31st, 2020|Guides, SSA|

Financial statement audits are a key professional service performed by independent auditors to provide reasonable assurance on the accuracy of financial statements prepared by a Singapore company’s accountants or administrator. The Singapore Standards on Auditing (SSA) is a best practice guide issued by the Institute of Singapore Chartered Accountants (ISCA) [...]

Company Audit Procedures in Singapore

By |2020-02-19T16:18:44+08:00February 19th, 2020|Audit, Guides|

Understanding audit procedures in Singapore is essential for business owners and company heads as Singaporean companies are required to conduct periodical audits on their financial statements as established in the Singapore Companies Act.  These audits are conducted to preserve the accuracy of the financial statements issued by businesses within the [...]

Key Requirements for a Company Audit in Singapore

By |2020-02-19T16:10:18+08:00February 19th, 2020|Audit, Guides|

What is a Statutory Audit? As a fast-growing economic hub in the Southeast Asian region, the demand for professional audit and accounting services in Singapore continues to rise. To comply with the country’s statutory laws, Singapore companies must regularly submit their financial statements to a qualified auditor or registered public [...]

Top 3 Criteria for Hiring an Auditing Firm in Singapore

By |2019-11-21T12:45:14+08:00November 21st, 2019|Audit, Guides|

Hiring an audit firm is an important milestone for businesses and companies as an effort to guarantee the accuracy and transparency of their financial reports. By Singaporean legislation, companies that do not meet the audit exemption criteria must ensure their financial statements and accounting records are audited yearly. Most accounting [...]

Quick Facts: Small Company Audit Exemptions in Singapore

By |2019-10-17T17:01:20+08:00October 17th, 2019|ACRA Audit Exemption, Guides|

The Companies Amendment Act enacted into law in 2014 revised the criteria for audit assurance requirements and introduced the small company concept, offering audit exemptions for registered private limited companies in Singapore. What is the Effective Date of the Act? The Accounting and Corporate Regulatory Authority (ACRA) began implementing key [...]

The Purpose of Audits and How Your Business Can Benefit from Them

By |2019-10-17T11:15:49+08:00October 17th, 2019|Audit, Guides|

A recent survey from the Singapore office of the reputed accounting firm PWC has unveiled that the percentage of companies who trade in the Singapore Exchange that have decided to include Auditing Committee commentaries into their financial statement has increased from 40% to 60% from 2017 to 2018. It seems [...]

Accounting for Cryptocurrencies

By |2019-09-29T02:30:33+08:00September 29th, 2019|General, Guides|

With rapid changes in technology and business environment, holdings of cryptocurrencies allow businesses and individuals to transact directly to each other without any intermediary such as banks or financial institutions. Accordingly, it appears practical issues on how to account for such assets given the fact that there is no accounting [...]