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Published: 20 November 2014

Small exempt private companies ("EPC") with turnover of not more than S$5 million can opt for audit exemptions. However, they are still required to prepare a full set of financial statements (compilation report) in accordance to the Singapore Financial Reporting Standards (“FRS”) for Annual General Meeting and for with Accounting and Corporate Regulatory Authority (“ACRA”).

Your company may be exempted for audit if:

• Your company is a Private Exempt Company ("EPC"), which means no corporate shareholder in the company and the number of shareholders in the company is not more than 20.
• Your company's annual revenue does not exceed $5 million
• No request for audit by shareholders who represent 5% or more of a company's ordinary shares, or
• No request for audit by banks or other creditors/financial Companies

A compilation report will give you the comfort that the information is compiled with professional competence and due care. It is also sufficient for income tax filing purpose. However, a Compilation Engagement is not as "Stringent" as an audit. The fee for a Compilation Engagement is lower than the audit fee.

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Published: 20 November 2014

Our affiliated CPA firm provides auditing services and assurance service for a wide range of industries for small and medium-size enterprise, multinational corporations and subsidiaries of local and overseas listed companies including:

• Statutory audit
  Our assurance approach does not focus simply on the financial statements of an organization, but also on the organization's business operations. At all times, we are mindful of the auditor's key role as the guardian of shareholders’ interest
• Internal audit
  Internal audit is a key driver of effective management control, proactive risk management, good corporate governance and ongoing process improvement. Our comprehensive ranges of internal audit solutions include: 
  • Helping organizations develop and implement risk based internal audit methodologies 
  • Helping firms carry out risk assessment evaluation and testing 
  • Advising on the establishment of robust internal control system 
  • Providing specialized additional resource to in-house internal audit departments 
  • Liaising with external auditors in relation to their annual statutory audit procedures 
• Special audits
  A special audit review entails a comprehensive and objective examination of the business underlying the numbers. It assists management to identify and focus on key areas and issues and provides insights and comfort to them as well as to outside interests.

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Published: 20 November 2014

We assist companies in Good & Services Tax (“GST”) reporting by providing the necessary advice, preparation of the supporting schedules and reports as well as liaise with the IRAS officer on GST matters.

Our GST reporting services include:

• GST voluntary and compulsory registration
• GST return preparation and submission
• GST review and consultation
• Major Exporter Scheme (MES) application, review and consultation

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Published: 20 November 2014

To be a successful business, it is vital that companies have access to reliable financial information on a timely basis. We take care of your accounts so that you can concentrate on what is important to you – Building your business and generating profits!

Our services include:

• Setting up computerised accounting system
• Preparation of monthly, quarterly and yearly management reports
• Prepare financial statements under XBRL format (an ACRA requirement)
• Bank and other account reconciliation and audit schedules
• Cash Flow Management & Forecasting
• Process the payment of employee expense claims and vendor invoices
• Secondment of staff to assist in accounting work to relieve clients when faced with unexpected staff turnover or staff leave problems

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Published: 20 November 2014

We assist companies to process the payroll for their staff.

Our payroll services include:

• Computation of net salary, overtime, CPF and other deductions
• Preparation of monthly payroll report and computerised pay slips
• Prepare year-end IR8A and IR8S (hardcopy or electronic)
• Prepare IR21 and other payroll related forms - NS MUP, GML, CPF Joint Application, CPF Refunds
• Manage staff leave records