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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     • MCYS
• STPB   • MICA
• MAS    • 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.