Business Assurance

Overview

Sound internal controls ensure that company assets are protected and transactions are properly accounted for – ensuring sustainability and growth. Through an in-depth study of existing company controls, our team of experienced professionals is able to advise and implement improvements to maximize efficiency and bring the company to the next level of advancement.

Business Assurance Tax

Companies that are exempted from audit requirements are not required to have their accounts audited. However, they are still required to prepare unaudited financial statements, accompany by the Directors’ Report and the Statement by Directors in a format as required by the Companies Act and the Singapore Financial Reporting Standards (FRSs).

An Exempt Private Company (EPC) is a private company which has no corporate shareholders and not more than 20 shareholders.

The following companies are exempted from audit:

• EPC with annual revenue not more than S$5 million for the financial year starting on or after 1 June 2004; or
• EPC with annual revenue not more than S$2.5 million for the financial year starting on or after 15 May 2003 but before 1 June 2004; or
• Any company, including an EPC, that is dormant for the financial year starting on or after 15 May 2003