Routine Accounting
We assist clients to prepare interim or yearly financial accounts to enable them to understand their financial position.
Management Accounting
We assist clients to prepare management reports and applicable financial analysis to enable them to make informed business decision.
Unaudited Financial Report
Companies that are exempt private with turnover of not more than S$5 million can opt for audit exemptions. However, they are still required to prepare a full set of financial statements in accordance to the Singapore Financial Reporting Standards (“FRS”) for purposes of its Annual General Meeting and for filing with the Accounting and Corporate Regulatory Authority (“ACRA”). If the exempt private company is insolvent (i.e. unable to meet its debts when they fall due), it has to lodge the accounts with ACRA.
An exempt private company is defined under Section 4(1) of the Companies Act as a company which has not more than 20 shareholders and no corporate shareholder.
Companies that are dormant can also opt not to have their financial statements audited. Dormant company is defined as a company that has no accounting transactions (except for certain expenses incurred to meet statutory requirements) during the financial year or has not started business since its incorporation.
We assist clients to prepare the unaudited financial report in accordance to FRS based on their underlying accounting records.