Unaudited Financial Statements Singapore

Unaudited Financial Statements Singapore

Companies that are exempted from audit requirements are not required to have their accounts audited. Instead they will prepare unaudited accounts for purpose of Annual General Meeting and filing with ACRA. A private Companies which has at most (20) shareholders with no corporation shareholders are called Exempt Private Companies (EPC). EPC are exempted from audit subject to the following requirements:

  • EPC with revenue not more than S$5 million for the financial year starting on or after 1 June 2004; or

  • EPC with revenue not more than S$2.5 million for the financial year starting on or after 15 May 2003 but before 1 June 2004; or

  • Any company, including an EPC, that is dormant for the financial year starting on or after 15 May 2003

We can help you prepare unaudited financial statements in accordance to IRAS’ filing requirements, and file your tax returns if desired. We are in constant and close touch with the latest changes and developments in accounting standards, statutory requirements, tax and GST matters impacting businesses, which translates to the value-add we bring to our accounting assignments.

What is included in Unaudited Financial Statements:

  • Report of Directors

  • Statement by Directors

  • Statement of Comprehensive Income (Income Statement)

  • Statement of Financial Position (Balance Sheet)

  • Statement of Change in Equity

  • Statement of Cash Flows

  • Note to the Financial Statements

ACRA Reference on Exempt Private Company and Audit Exemption

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