Top Audit Firm in Singapore: Reliable Statutory Audit Services Singapore
Introduction to Statutory Audit in Singapore
In Singapore, statutory audits are essential for ensuring financial transparency, compliance with regulatory requirements, and maintaining investor confidence. As a leading audit firm in Singapore, Koh & Lim Audit PAC provides professional audit services in Singapore, helping businesses meet their statutory obligations while enhancing financial credibility.
Understanding Statutory Audit Requirements in Singapore
A statutory audit is a mandatory financial examination required under the Singapore Companies Act for companies meeting specific criteria. This process ensures that financial statements present a true and fair view of a company’s financial position. The audit must be conducted by a qualified auditor in Singapore, such as Koh & Lim Audit PAC, which is accredited by the Accounting and Corporate Regulatory Authority (ACRA).
Companies in Singapore that are required to undergo a statutory audit include:
- Companies with annual revenue exceeding S$10 million
- Companies with total assets exceeding S$10 million
- Companies with more than 50 employees
- Any company that does not qualify as a “small company” under ACRA’s exemption criteria
Why Choose Koh & Lim Audit PAC for Your Statutory Audit?
As a trusted audit firm in Singapore, Koh & Lim Audit PAC provides reliable audit services in Singapore tailored to businesses of all sizes. Our experienced team of auditors ensures compliance while offering valuable insights to improve financial management.
Key benefits of engaging Koh & Lim Audit PAC include:
✅ Expert Compliance with Singapore Financial Regulations – We ensure your business meets all statutory requirements set by ACRA, Inland Revenue Authority of Singapore (IRAS), and other relevant authorities.
✅ Accurate and Transparent Financial Reporting – Our auditors verify the accuracy of your financial statements, reducing the risk of errors and misstatements.
✅ Enhanced Credibility with Investors and Lenders – A well-audited financial report increases confidence among stakeholders and potential investors.
✅ Cost-Effective and Efficient Audit Process – Our streamlined audit methodology minimizes disruptions to your business operations.
✅ Professional Advice for Financial Growth – Beyond compliance, we provide actionable insights to optimize financial performance and internal controls.
The Statutory Audit Process at Koh & Lim Audit PAC
At Koh & Lim Audit PAC, we follow a structured and systematic approach to ensure a smooth and efficient audit process.
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Initial Consultation & Planning
- Understanding your business operations, financial records, and specific audit requirements.
- Establishing a timeline and scope for the audit.
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Risk Assessment & Internal Controls Review
- Identifying potential financial risks.
- Evaluating internal controls and compliance with financial reporting standards.
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Audit Execution & Financial Statement Verification
- Conducting an in-depth review of financial statements, including revenue, expenses, assets, and liabilities.
- Ensuring compliance with Singapore Financial Reporting Standards (SFRS).
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Audit Report Preparation & Recommendations
- Issuing an independent audit report with findings and recommendations.
- Providing strategic advice to improve financial reporting and risk management.
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Submission & Compliance Assurance
- Ensuring timely submission of audited financial statements to regulatory bodies.
- Assisting with tax filing and compliance documentation.
Who Needs Our Statutory Audit Services?
Our audit services in Singapore cater to a wide range of businesses, including:
- Private Limited Companies (Pte Ltd) in Singapore
- Multinational Corporations (MNCs) with Singapore subsidiaries
- Financial Institutions & Investment Firms
- Non-Profit Organizations & Charities
- Small and Medium Enterprises (SMEs) that exceed the audit exemption threshold
If you are unsure whether your company requires a statutory audit, our professional auditor in Singapore can assess your financial standing and provide expert advice.
Why Timely Audits Are Crucial for Business Success
Delaying or neglecting statutory audits can lead to serious consequences, including:
🚨 Non-Compliance Penalties – Companies that fail to meet audit requirements may face fines and legal repercussions from ACRA.
🚨 Difficulty in Securing Business Loans – Banks and financial institutions require audited financial statements to assess creditworthiness.
🚨 Loss of Investor Confidence – Investors rely on audited reports to make informed decisions.
🚨 Increased Tax Risks – Unverified financial statements may raise concerns with IRAS, leading to potential tax audits.
By partnering with Koh & Lim Audit PAC, your business remains compliant and financially secure, avoiding unnecessary risks and penalties.
Engage Koh & Lim Audit PAC for Reliable Audit Services in Singapore
If your company requires statutory audit services in Singapore, trust Koh & Lim Audit PAC, a leading audit firm in Singapore, to deliver professional and accurate financial assessments. Our experienced auditors in Singapore ensure compliance, transparency, and financial integrity for businesses across various industries.
📞 Contact Us Today
Koh & Lim Audit PAC
📍 Address: 7500a Beach Rd, #09-324 The Plaza, Singapore 199591
📧 Email: Tommyksh@kohlimaudit.sg
📞 Phone: +65 98638665
🌐 Website: https://kohlimaudit.sg/
Ensure your company meets all statutory audit requirements with the expert guidance of Koh & Lim Audit PAC—your trusted audit firm in Singapore.
