We have partnered with some professional audit firms to provide audit services to our clients. Should your company require an audit, we will recommend the audit firm that best suits your requirements. Apart from providing the management accounts in preparation for an audit, we will liaise with the auditors to provide all the information they need in order to fulfil the audit requirements and complete the audit. The timeline depends very much on the complexity and nature of your business. Do contact us to discuss this further.

To simplify the regulatory compliance process, the Companies Act has been amended in 2014 (effective 1 July 2015) to introduce the concept of ‘Small Company’ that exempts Private Limited Companies from annual statutory audit if the company or group of companies fulfils two out of three of the following criteria, in the immediate two preceding years:

• Total revenue not exceeding $10 million
• Total assets less than $10 million
• Total number of full-time employees do not exceed 50