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 [...]
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 [...]
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 [...]
As per the Singapore Companies Act, only registered public accountants may audit financial reports of companies that do not meet the “small company” criteria for audit exemption. Auditors are expected to meet the demands of both internal and external forces when catering to clients. They must ensure these companies comply [...]
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 [...]
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 [...]
