Director’s and Auditor’s Report

Most private limited companies in Singapore are no longer required to have their companies account audited if they satisfy certain conditions.

Exempt private companies, which have no corporate shareholders and no more than 20 individual shareholders, with turnover of less than S$5 million for the accounting year can file un-audited accounts. Dormant companies are also exempt from submitting audited accounts.

All other companies are required to appoint an auditor within 3 months of incorporation and be prepared to submit audited accounts to the Accounting and Corporate Regulatory Authority (ACRA). The accounts must be audited annually.

AsiaBiz provides a full accounts and tax consultation services, drafting of un-audited Financial reports for exempt companies and offering audit service through our associate audit firms. Our audit services include all financial statements designed specifically to comply with ACRA’s and the Inland Revenue Authority of Singapore (IRAS) statutory requirements.