Unaudited Financial Statements ACRA as per the compliance requirements, a private limited company must table its audited / unaudited financial statements Singapore to the AGM within 6 months of its financial year-end. If it is time for you to…
Unaudited Financial Statements ACRA
As per the compliance requirements, a private limited company must table its audited/unaudited financial statements from Singapore to AGM within 6 months of its financial year-end, If it is time for you to file unaudited financial statements for your Singapore company.
Who is Exempted from Audit Requirements?
In the past, a Singapore company used to get audit exemption (EPC criterion) if it was an Exempt Private Company (EPC) with annual revenue of $55 million or less. Singapore’s Accounting and Regulatory Authority (ACRA) replaced the EPC criterion with new criteria. The audit exemption for Small Companies criterion came into effect on 1 July 2015.
According to the audit exemption for Small Companies criterion, a Singapore private company qualifies as a small company if it fulfills 2 of the 3 conditions for the immediate past two financial years:
- Total annual revenue ≤$10 million;
- Total assets ≤$10 million;
- The number of employees is ≤ 50;
In the case of a Singapore private company that is part of a group of companies:
- It must qualify as a small company; and
- The entire group of companies must also qualify as a “Small Group” to get the audit exemption
- A group is considered as a small group if it meets at least 2 of the 3 conditions mentioned above.
Who are we?
Established in 1986, Lau Chin Huat & Co is a professional accounting and consultancy firm made up of qualified and experienced personnel with extensive experience. We are well versed with the Singapore Financial Reporting Standards (SFRS) and SFRS for small entities. We keep ourselves abreast of current developments in business and market information relevant to accounting to meet the needs of both individuals and corporations.
We can assist you by preparing and filing financial statements with ACRA.
Let our expert accountants compile Singapore’s unaudited financial reports for your business. Hiring us gets you the following documents:
- Cash flow statements
- Statement of balance sheet
- Director’s report
- Income statements
- Statements of changes in equity
- Notes to the financial statements
Our service for the preparation of financial statements of a company does not include accounting services.
Contact us for the preparation of an unaudited report for your Singapore company.