Compilation Financial Statements and Reports Services in Singapore

Most private limited companies in Singapore are no longer required to have their accounts audited if they satisfy as a small company or belongs to a group which qualifies as a small group.

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 unaudited reports. Dormant exempt companies are also exempt from submitting audited reports.

All other companies are required to appoint an auditor within three months of incorporation and be prepared to submit audited reports to ACRA. The accounts must be audited annually.

PACC provides full account services, drafting of unaudited financial reports for exempt companies and offering audit service through our associated audit firms. Our associate’s audit services include auditing of financial statements which comply with ACRA’s and IRAS’s statutory requirements.