In accordance to the Singapore Companies Act, all companies are required to have their yearly Financial Statements prepared in accordance with the SFRS (Singapore Financial Reporting Standards).

Exempt Private Companies (“EPC”), are companies with no more than 20 shareholders, all of which are Individual Shareholders (i.e. No Corporate Shareholders). Dormant companies and EPCs with annual revenue below S$10m could enjoy audit exemption under current Singapore Companies Act, Chapter 50. Filing and compliance requirements for such companies will be the simplest and least costly.

Companies that qualify for the audit exemption and have chosen not to have their accounts audited can file the unaudited Financial Statements in place of the audited Financial Statements. The unaudited Financial Statements (accompanied by the Directors’ report and the Statement of Directors) must be prepared in accordance to the Singapore Financial Reporting Standards (SFRS) in compliance with the Companies Act. We have a dedicated team of experts to prepare your Financial Statements for submission to both ACRA and IRAS.

Our Financial Statements Compilation services include:

• Preparation of Financial Statements in compliance with SFRS and Companies Act
• Advise on accounting related matters
• Timely reminders on the statutory deadlines