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If your company is exempted from audit, save on accounting fee with unaudited financial report. We specialize in preparing Unaudited Financial Report in accordance to Financial Reporting Standards so that you are ready during Annual Filing with ACRA and tax season. (?)Under the proposed guidelines, audit exemption for small companies will be applied if:
(a) the company is a private company*; and
(b) it fulfils two of the following criteria:
Criterion One : Total annual revenue of not more than S$10 million.
Criterion Two : Total gross assets of not more than S$10 million.
Criterion Three : Number of employees not more than 50.
Currently under the Companies Act, Exempt Private Companies* (EPCs) with annual revenue below $5 million are exempted from audit.
*An exempt private company is a private limited company with no corporate shareholders and has no more than 20 shareholders.