As per the compliance requirements, a private limited company must table its audited/ unaudited financial statements Singapore to the AGM within 6 months of its financial year end. If it is time for you to file unaudited financial statements for your Singapore company. You will have to choose one of the experienced accounting services Singapore that is cost-efficient for the task.
Unaudited Financial Statements ACRA
We employ Certified Public Accountants (CPAs) that are rich in experience and knowledge. They are well versed with the Singapore Financial Reporting Standards (SFRS) and SFRS for all types of entities. They also keep themselves upgraded with the latest changes in the rules and regulations. And they give their best while preparing audited/ unaudited financial statements Singapore for our client.
Who is Exempted from Audit Requirements
In the past, a Singapore company used to get audit exemption (EPC criterion) if it was an Exempt Private Company (EPC) with annual revenue of $5 million or less. Singapore’s Accounting and Regulatory Authority (ACRA) replaced EPC criterion with new criteria. The audit exemption for Small Companies criterion came into effect on 1 July 2015.
According to the audit exemption for Small Companies criterion, a Singapore private company qualifies as a small company if it fulfills at least 2 of 3 following conditions for immediate past two financial years:
- Total annual revenue ≤ $10 million;
- Total assets ≤ $10 million;
- Number of employees ≤ 50
In the case of a Singapore private company that is a part of a group of companies:
- It must qualify as a small company; and
- The entire group of companies must also qualify as a ‘Small Group’ in order to get the audit exemption
- A group is considered as a small group if it meets at least 2 of the 3 conditions mentioned above.
Filing Financial Statements with ACRA
Let our expert accountants compile Singapore unaudited financial report for your business. Hiring us gets you following documents:
- Cash Flow Statements
- Statement of Balance Sheet
- Director’s Report
- Income Statements
- Statements of Changes in Equity
- Notes to the Financial Statements
Our service for the preparation of financial statements of a company does not include accounting service.
Contact us for the preparation of an unaudited report for your Singapore company.