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:
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.
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.