Who needs an audit
- Companies that do not qualify for the small company audit exemption.
- Companies that need audited accounts for a bank loan, an investor, a grant, a licence or a tender.
- Groups that need consolidated accounts.
- Owners who want an independent check before a sale or a fundraising.
What we audit
- Statutory financial statement audits for private companies.
- SME audits where the standard is Singapore Financial Reporting Standards (SFRS(I)) or the SFRS for Small Entities.
- Group and consolidation audits.
- Special-purpose audits for a lender, a regulator or an investor.
- Non-statutory financial reviews when you want a second opinion and no formal audit.
We carry out audits under the Singapore Standards on Auditing (SSAs). A Public Accountant registered with ACRA signs the report.
How an audit runs
- Plan. We agree scope, timing and fee in writing. We send a list of what we need.
- Fieldwork. We test your records, confirm balances with banks and third parties and review key contracts.
- Clear findings. We tell you about problems as we find them. You do not wait for a surprise at the end.
- Report. You receive the signed financial statements and a short letter on control gaps and fixes.
What to prepare
- Trial balance and general ledger for the year.
- Bank statements and loan statements at year end.
- Debtor and creditor listings with ageing.
- Fixed asset register and stock count records.
- Payroll and CPF records.
- Key contracts, leases and director and shareholder minutes.
Fees. Fees depend on your size, systems and how complete your records are. We agree scope and fee in writing before we start. We do not sell fixed packages.
If we also keep your books
Many clients ask us to do both. When we keep your books, we apply safeguards so the audit stays independent, as Singapore ethics rules require. We explain the arrangement before we start.
Your contact
You deal directly with Henry C S Chow, a practising Public Accountant registered with ACRA. See About for credentials.
Common questions
When must the audit be finished?
The audited accounts must be ready in time to file your annual return. Most private companies file within 7 months after the financial year end. Start planning at least two months before your year end.
How long does an audit take?
It depends on how quickly you send records and how complex your business is. A clear list upfront shortens it.
Do I need an audit?
Maybe not. Check the small company audit exemption first.
Can you take over from my current auditor?
Yes. We contact the previous auditor as the rules require and plan the handover with you.