Top Audit Firm in Singapore

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Top Audit Firm in Singapore2023-09-15T15:07:15+08:00

Reduce the chances of fraudulent activities inside your company through top-notch audit services in Singapore. Add credibility to information presented to shareholders & give investors assurance to make decisions with confidence. Get professional audit services from our experienced qualified auditors.


As per the Singapore Companies Act, private limited companies in Singapore are mandated to undergo an annual Statutory Audit. All private companies in Singapore is need to appoint at least one auditor within three months from the date of the company’s formation. The appointed auditor must either be a public accountant or an accounting firm registered with the Accounting and Corporate Regulatory Authority (ACRA).

Beyond legal obligations, auditing is practiced by companies looking to establish brand credibility and reduce the chances of fraud. Corporate audit services are a formal, documented assessment of a firm’s financial records and accounting procedures to make sure they adhere to Singapore’s legal requirements. It is possible to conduct this audit internally through in-house auditing, or externally through outsourcing accounting services.

Singapore Auditing Services We Provide!

Our audit services in Singapore consist of a vast variety to cater to the specific needs of your organization. Among others, these are the services that we provide:

  • Annual Financial Audit
  • Special Purpose Audit
  • Certification for Subsidy Claim
  • Audit
  • Fixed Assets Certification
  • Claim Certification
  • Shares Certification
  • Personal Income Certification

With our comprehensive audit services, we help you maintain transparency, uphold regulatory requirements, and reinforce the trust and confidence of stakeholders in your financial operations.

Am I Qualified for Audit Exemption?

Small Companies

Small companies are exempted from audits in Singapore based on a list of criteria. If at least 2 out of 3 of the criteria for the past 2 consecutive financial years are met, the company is exempt from audit:

  • Annual revenue does not exceed SGD $10 million
  • Less than 50 full-time employees
  • Assets do not exceed SGD $10 million


Group companies are exempt from annual audits if the holding and all subsidiary companies individually:

  • Fulfill at least 2 of the small qualifying conditions
  • Belong to a small group

Like private companies, small groups must fulfill 2 out of 3 conditions in the immediate two preceding financial years:

  • Consolidated revenue must not exceed SGD $10 million
  • Consolidated total assets must not exceed SGD $10 million
  • The total number of employees in the group must not exceed 50

To qualify for an audit exemption, the individual subsidiary companies and the holding company, as a group, must fulfil the eligibility criteria of a small company.

Why conduct a Company Audit 

Even though certain companies may be exempted from an audit, there are still many benefits of engaging an audit firm in Singapore. Here is a non-exhaustive list of reasons why engaging an audit firm is recommended: 

Singapore audit team discussion
  • Establish brand and information credibility
  • Detect and deter fraud and error
  • Enable company to comply with banking covenants
  • Facilitate timely and accurate payment of taxes
  • Facilitate purchase and sale of businesses
  • Demonstrate good corporate governance and citizenship
  • Takes advantage of the spin-off benefits such as the advice on the structure and operations of systems

Your Trusted Singapore Auditor in Singapore

PHP Network Partner

Paul Hype Page is a certified accounting firm (CPA) in Singapore and a full-practicing member of the Institute of Singapore Chartered Accountants (ISCA). We can issue an IRAS-approved audit report that meets both the Singapore government’s requirements and your company’s needs. The audit function of your company is in good hands with our professional Singapore-certified auditors. 

Singapore Audit Claims

Claims are provided for certain audit purposes, which include:

  • 1. Childcare/ Infant Subsidy Claims Audit

    As part of MCYS audit requirements, Childcare centres are required to engage certified public accountants (CPA) to audit the centre’s infant/childcare subsidy claims annually or upon cessation of business.

    We do the provision of auditing service on childcare centre’s infant/childcare subsidy claims and the scope of our Infant/child Care Subsidy Claims Audit Service includes preparation of the following which must be submitted to the Ministry 3 months after the centre’s financial year-end or cessation of business:

    • Preparation of the Statement of Subsidy Claims for the Financial Year
    • Preparation of Certification by External Auditors
    • Fund Raising Appeal by Societies

    This is in accordance with the provision of Regulation 6 of the Societies Regulations issued under the Societies Act Chapter 311, Section 34 (the “Regulations”) relating to the fund-raising appeal held by the Society.

  • 2. Claim Summary of Project Qualifying Costs

    This is one of the Special Purposes Audit reports on the Claim under a particular Approved Project and under a particular Scheme administered by IDA based on the terms and conditions provided in the Letter of Offer between the company and the IDA.

    The claims are for Approved Grant Amounts set the maximum amounts approved by IDA as set out in Qualifying Costs Table.

  • 3. House to House and Street Collection (HHSC)

    License Audit Under the House to House and Street Collections Act, an HHSC license is required if one promotes a collection by way of appealing to the public, made using visits from house to house or of soliciting in streets or other places or by both such means, for money and other property.

    After the collection event, the collection account needs to be certified by the chief promoter of the collection and by a CPA who is appointed by the organisation of the chief promoter to be the auditor of the account.

  • 4. Engagement to Perform Agreed-upon Procedures (SSRS 4400) Government Agencies Grant Claim

    The Engagements to perform Agreed-upon Procedures Regarding financial information is referred to SSRS 4400. Auditor’s Reports are on Factual Findings based on terms of reference outlined by the Government Agencies. The audit coverage shall cover at least 85% of the value claimed in the statement.

    Administered government agencies for grants include, among others:

    • EDB
    • STPB
    • MAS
    • MCYS
    • MICA
    • IDA
  • 5. Certification Audit for Confirmation of JTC Leases

    It is part of SSRS 4400 to certify the investment quantum on Plant & Machinery and Building & Civil Works incurred by the licensee has complied with the lessor’s lease terms with JTC Corporation.

  • 6. Submission of the Value-added productivity (VAP) figures to the BCA

    Under this requirement, all larger companies, from A1-B2 registered under Construction Workheads (CW) of BCA Contractors Registry must submit their VAP figures on an annual basis. Procedures in connection with the computation of the VAP figure is defined by the BCA.

Other Types of Certification Audit Services in Singapore

We also certify the following financial information, statement, and statistics through our certification audit:

  • Fixed Assets Certification
  • Claim
  • Shares Certification
  • Personal Income Certification
Other types of certification audits

Your Questions, Answered

Auditing a company can be daunting – here are the top questions regarding Auditing Services in Singapore compiled to clear your doubts!

Is my company exempted from the audit?2020-11-25T09:52:43+08:00

If your company is small, as long as it meets 2 out of 3 criteria as below, it is exempted from the audit:

  1. total annual revenue is less than or equal to S$ 10mil;
  2. total assets less than or equal to S$ 10mil;
  3. have less than or 50 employees
How long is the auditing process?2020-11-25T09:52:22+08:00

It depends on the capacity and complexity of your business. 

When do I need to appoint an auditor for my company?2020-11-25T09:52:10+08:00

You should nominate at least one auditor within 3 months after your company is incorporated. 

How often the Profit and Loss Account as well as the balance sheet of a company need to be audited?2020-11-25T09:51:53+08:00

The Profit and Loss Account as well as the balance sheet need to be audited annually. 

Do Foreign Companies in Singapore have to be Audited?2021-05-21T17:40:07+08:00

Only the Singapore-based companies which have fulfilled the criteria for audit exemptions are allowed to remain unaudited. This is also true of all foreign companies based in Singapore.

When do I need to Appoint an Auditor for my Company?2021-05-21T17:47:25+08:00

You should nominate at least one auditor within 3 months after your company is incorporated.

How often do companies need to be audited?2022-06-27T16:21:45+08:00

Every company must have its financial statements and accounting records audited at least once a year. Only companies which fulfil the criteria for audit exemptions do not have to be audited.

How long is the auditing process in Singapore?2022-06-27T16:22:01+08:00

The timeframe for auditing is very dependent on the capacity and complexity of your business. It is usually derived after initial consultation with the audit firm.

How much does an auditing service cost?2022-06-27T16:22:22+08:00

An auditing service cost is dependent on the amount of work needed to be done and typically starts from S$4,500.

What are auditing services?2022-06-27T16:22:42+08:00

Auditing services are professional services that provide compliant financial statements and ensure that the finances are in order before communicating to key stakeholders.

What is a Special Purpose Audit?2023-08-04T16:50:01+08:00

A Special Purpose Audit is an audit conducted when reports on particular financial information for specific objectives and designated users are required, as opposed to the overall audit of financial statements.

What is an Annual Financial Audit?2023-08-04T16:58:39+08:00

Annual Financial Audits are processes involving the examination of a company’s financial statements by a licensed auditor or public accountant every year. According to the Singapore Company Act, private limited companies operating in Singapore are required to undergo an Annual Financial Audit.

What is a Share Certificate?2023-08-04T16:59:02+08:00

A Share Certificate is an official, legally binding document issued and signed by a company to identify the owners of its issued shares. When a company provides share certificates, it serves as tangible evidence of a shareholder’s ownership stake in the company.

What is a Personal Income Certification?2023-08-04T17:00:04+08:00

An Income Certificate is an official document issued by a State Government authority certifying the annual income of an individual or their family. This certificate serves as proof of the person’s or family’s income for various purposes such as availing government schemes, applying for scholarships, or seeking reservations or benefits based on income criteria.

Ready to Appoint an Auditor in Singapore?

We have provided auditing services for businesses from various industries across Singapore, Malaysia, Indonesia and Hong Kong.

With the help of our dedicated team and professional auditors, you can entrust your company’s auditing process to us.

We provide auditor reports that are error-free from material misstatement

Our auditor will assess the effectiveness of your company’s internal control

Our audits involve the analysis of the company’s financial reports and the material misstatement risks present within them

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