Regular audits are essential to establishing credibility and building reputation. Companies that have good credible financial reporting stand to gain credibility internationally with leading sources of capital.
While not designed specifically for such, the auditing process may uncover significant fraud or errors. The audit of financial statement acts as a deterrent. Potential losses due to fraud usually far surpass the cost of an audit. We also highlight to the management significant weaknesses noted in existing systems of internal control. Such reporting to management facilitates continuous cost-effective improvements in internal controls which protects value and enhances the quality of accounting and financial reporting of the entity.
Many companies including Small Medium Enterprise would want to have their financial statements audited; even they have the option not to have their accounts audited.
A company shall appoint an auditor within 3 months from the date of its incorporation, unless it is exempted from audit requirements. Your company qualifies for the exemption mainly if it:
- has 20 or fewer shareholders and has no corporate shareholder and with revenue not more than S$10 million for the financial year.
- is dormant for the financial year.
As a financial hub of Asia, there is a high demand for audit services in Singapore. Even though there are many providers for such services in the country, it is not easy to find the one most suitable for the kind of business you do. You will need to do ample groundwork to find a credible company to do the audit for you. Where the finances of your business are concerned, you do not want to take any chances and would want a honed professional audit firm to do the service for you.
Bindwith have a few partners in different professional audit firms. You can have the peace of mind as we will recommend you the best audit firm that fits your needs and requirements. This also depends on the nature and complexity of your business.
While we provide the accounting services, taxation services, corporate secretarial services, filing with authorities of Singapore, and other related company compliance service our audit partner firms would provide you with auditing services. As for those of you whose accounts needs to be audited as well, then this one-stop solution at Bindwith would save your time and costs.
Types of Audit and Assurance Services include:
- Statutory Audits
- Internal Audits
- Special Audits
- Forensic Accounting
- Fraud Investigations
- Due Dilligence