5 Things to Consider While Choosing an Audit Firm in Singapore
Every year legislators keep tweaking and changing laws that tend to have a financial impact on the citizens. Issues such as selling an investment property or even claiming tax deduction are some of the common things that many people deal with. To ensure that you meet all the legal requirements working with an auditor in Singapore can be of great help.
The majority of Accounting and auditing firms are well versed with the new tax laws and many of them are willing to offer expert financial advice when reached out to. With many firms in Singapore offering auditing services, there are things that should be considered if one is to end up with the best audit firm in Singapore.
Business Specialties
There are a few areas that accountants specialize and having knowledge of those areas can be of great benefit. If you have some unaudited reports that you need to be worked on then take your time and ascertain that the firm you intend to engage is capable of handling the work effectively. A retail tax accountant may not be of much help to a fully-fledged organization with a number of branches. You need to engage one who has the experience and professionalism to handle your unaudited report.
Availability
One question that you also need to ask your auditor in Singapore is how available they are. Are they a phone call away or is there a structured way of reaching out to them whenever you need their assistance. Since the services being provided may require scheduled live meetings you may consider settling for an audit firm in Singapore that is available and has the time to attend to the client’s needs.
Audit Support
When the revenue authorities come calling on you, you definitely need an audit firm in Singapore that will be by your side to help with addressing the questions. You should therefore take time and ascertain beforehand that they will be able to do that when the time comes. Explaining to the authorities things that you are not well conversant with can be quite challenging so you need to be assured f their support when the time arises.
Fee proposal
The professional fee that’s to be charged for the services offered is another important thing to consider. As you engage an auditor in Singapore, ensure that you are comfortable with the fee proposal that details what they are likely to charge. You don’t have to wait until after your unaudited reports are worked on to be surprised with a hefty fee. The amount of fee should also determine whether you are comfortable with engaging the audit firm or not.
Unique value addition
Look out for something that distinguishes the audit firm in Singapore from the rest that you might be interested in. The firm should be able to clearly state what is it that distinguishes them from the rest. Are they able to provide other services that you may find helpful such as Company Secretary Services and such like.
