Financial Statement Compilation Services in Singapore

While some companies are exempted from auditing and compiling their financial reports, statements, and disclosures, the Companies Act of Singapore provides for Pte. Ltd. Companies to prepare a Compilation of Financial Statements to be submitted later to the regulatory authorities.

Most companies do have a dedicated financial department working on the process, throughout the year, however, for those who do not, they should look forward to outsourcing compilation financial statement services in Singapore.

Who better to do it than us?

Bestar provides reliable and efficient compilation financial statement services in Singapore to all enterprises, which comply with the provisions of all regulatory authorities and the Singapore Companies Act and has the capacity to bring down your overhead costs.

What is the Financial Statement Compilation?

Compilation of Financial Statements refers to the accounting process of preparing and organizing all financial reports, including the Profit and Loss Statement and Balance Sheet, into a single document. This compilation report service provides an overview of a company’s financial position, performance, and operations.

In Singapore, it is mandatory for all Pte. Ltd. companies to prepare financial statements in accordance with the Singapore Financial Reporting Standards (SFRS) and the Companies Act of Singapore. Our compilation services ensure that financial reports are prepared with accuracy, diligence, and compliance, giving stakeholders confidence in the company’s financial information.

For businesses seeking professional support, Bestar offers comprehensive Compilation Services Singapore to ensure accurate and compliant financial reporting. Our team specializes in Compilation Of Financial Statements Singapore, providing a clear and detailed overview of your company’s financial position. Additionally, our Compilation Report Service Singapore delivers precise, organized, and reliable financial reports that stakeholders can trust.

Financial Statement Compilation Service in Singapore includes the following

  • Income statement
  • Cash flow statement
  • Balance sheet
  • Statement of all equity changes
  • Statement of all capital transactions
  • Accounting policies implemented
  • Explanatory notes

A Pte. Ltd Company can relish an audit exemption if they are able to fulfill any two of the three criteria mentioned below –

  • The total annual revenue of the company is less than S$10 million
  • The value of total assets of such company is not more than S$10 million
  • The total number of employees is less than 50.

Companies that meet these criteria are classified as small companies in Singapore and, as per the Singapore Companies Act, are exempted from audit requirements. However, even when exempt, small companies must prepare unaudited financial statements in compliance with the Singapore Financial Reporting Standards and the Companies Act. These reports must later be submitted to ACRA.

With years of expertise, Bestar is the ideal partner for compilation financial statement services in Singapore. Our deep industry knowledge combined with technical proficiency ensures reliable and accurate results for businesses of all sizes.

Our highly skilled team of professional accountants, bookkeepers, management accountants, tax professionals, and corporate secretaries are well-versed in navigating Singapore’s strict regulatory requirements. We are committed to delivering precise, high-quality services that meet your compliance needs every time.

Reach out to us today and experience seamless support for all your financial reporting requirements.