5 Top Accounting Firms in Singapore
Singapore has earned a name among the most prosperous nations in the world, competing closely with the United States in terms of economic freedom and a growing business environment. In this dynamic environment, many top accounting firms have also found a place to lay the foundations to expand their operations in Asia to help businesses…
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Dev Team
Quick Facts: Small Company Audit Exemptions in Singapore
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 changes enforced by the law…
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Paul Wan & Co
The Purpose of Audits and How Your Business Can Benefit from Them
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 that companies in Singapore are…
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Paul Wan & Co
Accounting for Cryptocurrencies
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 standard currently provide direct guidance,…
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Paul Wan & Co
Preparing your Company for FRS115 (IFRS15)
The Accounting Standards Council issued FRS 115 (also known as IFRS 15) on 19 Nov 2014. FRS 115 is effective from annual periods beginning on or after 1 Jan 2018. Earlier application is permitted. Objectives of FRS 115 The objective of IFRS 15 is to set out standards for recognition and measurement of revenues in…
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