Statutory Audit

Business Services

A statutory audit, also referred to as financial audit or external audit, is a legally required process for most companies in Singapore. 

This independent process determines whether your company’s financial statements or records including financial transactions, bookkeeping records, and bank balances reflect the accurate view of your financial position and performance.

Why You Need Our Unrivaled Statutory Audit Services

Unless exempted, all Singapore incorporated companies are required to carry out statutory audit so that they can prepare true and fair financial reports. Our role in helping companies that are legally mandated to carry out an audit is to guarantee that the financial records provided by their management is an accurate reflection of their financial position.

Our approach to statutory audit not only reduces the likelihood that a company in Singapore is not meeting audit objectives, but also streamlines its financial reporting.

Statutory audit package comes with:

Risk Based Approaches

Our statutory audit services adopt a risk-based audit approach by combining our unsurpassed industry experience with our unique technical know-hows and in-depth knowledge to address specific needs of our clients. Our team of expert auditors have the knack to concentrate on riskier areas of a business to comprehensively understand the risks involved in all operating cycles.

Latest Auditing Standards

We have updated our systems with the latest auditing standards that are universally used by audit firms in Singapore. We also have a well-defined system for quality monitoring that helps us conduct audits at fixed time intervals for every company. The auditing standards also determine whether a company complies with the requirements of a specific quality system.

Audit Trails

We advise you with the verifiable audit trail that tracks accounting data to its source and specifies the history and events associated with a specific ledger entry or transaction. The audit trails play a significant role in providing evidence for regulators in the event of illegal financial activity or suspected fraud.

Informed Advice

Our expert team of auditors not only focus on analyzing your financial records, but also scrutinizing your key operations to provide informed advice on how you can improve the efficiency of your Singapore business. To increase overall performance of your company, we also offer valuable advice on the strategic planning of your financial activities.

How Our Statutory Audits Work

The term “statutory” defines a process conducted with reference to a statute, by-law or directive. A statute is a rule or regulation set or enacted by a company’s board of directors or leadership. As such, an audit that is required under law in an entity is known as “Statutory audit.”

Independent auditors appointed in an annual general meeting of a company are the ones eligible to perform the statutory audit. Tianlong Services Pte. Ltd is a leading company that conducts flawless statutory audits for various companies in Singapore.

During a financial audit, our team of expert auditors thoroughly examine all your company’s records as regards income or profit, expenses, investment returns, and other related financial reports relevant to the audit process.

Generally, the main aim of conducting the financial audit is to help stakeholders determine whether your company handled finances by the book and to ensure that all mandatory records are accurately entered and filed.

Before we begin the process, our expert team of auditors usually provide you with an exhaustive checklist of all the financial records required for the examination. Once you gather and supply us with the prerequisite information, our auditors will go ahead to conduct the statutory audit. Appropriate consequences will apply to any inaccuracies that may be found.

It is important to note that companies mandated to conduct a statutory audit are not necessarily targeted for unlawful financial activities. The statutory audit process is usually a formality aimed to prevent companies from engaging in misappropriation or embezzlement of funds by appointing a competent third party to examine their financial records regularly.

Contact us

If you have a Singapore incorporated company that require statutory auditing services, Tianlong Services Pte. Ltd has a competent team of expert auditors who will ensure that your financial records are an accurate reflection of your company’s financial position and overall performance.





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You will get a month’s worth of bookkeeping. Whether or not you continue with us, your reports for the month are yours to keep.