Get Auditing Services in Singapore
One of the statutory requirements, according to Singapore’s Company’s Act, is that all of the registered companies that exceed an audit threshold of 5million should undergo a mandatory audit. After which they are expected to submit their audited financial reports to the registry. When it comes to choosing an audit firm in Singapore, emphasis should be given to a professional firm with qualified personnel that clearly understands the different types of audits that a company should undertake.
Auditing services, to a great extent, adds credibility to the information provided by the shareholders of the company. It contains some level of assurance to the investors and financial providers who are expected to make decisions in an environment that’s safe and fosters confidence. Qualities such as safety and confidence in a company reduce the cost of capital and provide companies with a competitive edge and profitability. The auditing professional entrusted with the task should be a registered public accountant with ACRA.
The auditor is responsible for the business audit opinion and should ensure that the auditing task is undertaken as per Singapore Standards on Auditing guidelines and requirements. Auditing is essential for every business, and the procedure enables businesses to see the bigger picture that exists within the company. Auditing services are undertaken with the intention of meeting specific organization needs. Whether you are interested in statutory audit, internal audit service, or special audits engagement, it’s advisable that you settle on working with a professional audit firm in Singapore.
Here are some of the key auditing tasks that the choice auditor in Singapore should be well conversant with;
Statutory Audit
Statutory audit is also referred to as an external audit that must be carried out annually. The audits are expected to meet the specific regulations as per the set legislation. During the auditing process, the company’s accounting books and financial records are examined by the auditors.
The audited financial statements help in ensuring that the financial records of the company are in order. Once auditing has been undertaken and the records submitted, a review is undertaken where the financial errors within the financial records are looked into.
Internal Audit
An internal auditor helps with maintaining adequate controls by taking time to assess the reliability of the financial reports. They monitor the company’s compliance with the set laws and regulations and also advise the management on how they can develop smart control solutions. A professional auditor in Singapore such as onestop-ca.com has a detail-oriented team of professional auditors that are capable of delivering attestation work and ensuring the audit services process is undertaken in a very professional manner.
In order to ensure that the audit opinions are based on quality work and sufficient evidence, the auditors are expected to adhere to the code of professional conduct and ethics.
When looking for auditor in Singapore, it’s advisable that you engage auditors that are equipped with excellent expertise, quality training, and years of experience. A company such as onestop-ca.com has a team of certified auditors that understand what quality auditing of financial records entail and are committed to delivering high-quality work.
