Our financial audit services encompass a comprehensive evaluation of the financial transactions and statements of a company. The financial statement audit Singapore ensures that the statements which need to be presented to Accounting Corporate Regulatory Authority (ACRA) are devoid of material misrepresentations.
A financial statement audit is the examination of an entity's financial statements and accompanying disclosures by an independent auditor. The result of this examination is a report by the auditor, attesting to the fairness of presentation of the financial statements and related disclosures. The auditor's report must accompany the financial statements when they are issued to the intended recipients.
The purpose of a financial statement audit is to add credibility to the reported financial position and performance of a business. The Securities and Exchange Commission requires that all entities that are publicly held must file annual reports with it that are audited. Similarly, lenders typically require an audit of the financial statements of any entity to which they lend funds. Suppliers may also require audited financial statements before they will be willing to extend trade credit (though usually only when the amount of requested credit is substantial).
Audits have become increasingly common as the complexity of the two primary accounting frameworks, Generally Accepted Accounting Principles and International Financial Reporting Standards, have increased, and because there have been an ongoing series of disclosures of fraudulent reporting by major companies.
The traditional role of audit has always been to ensure compliances to statutory obligations.
Stakeholders today have regarded auditing more than just meeting statutory obligations. Many users of financial information are demanding greater reliability of both financial and non-financial data specific to their needs.
Our audit process is not only designed to provide relevant, timely and reliable information to the users, but we also see the audit process as an opportunity to add real value to our client’s business operations. This understanding not only brings the clarity to the company financial position, but also provides a sound basis from which to propose value added solutions designed to enhance internal control procedures and business operations.
Our expertise include:
- Statutory and Regulatory Audit
- Compilation of Unaudited Financial Statement in accordance with Applicable Financial Reporting Framework.
Do contact us today to see how we can tailor a suitable Audit service solution for your business needs.