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The Companies (Amendment) Act 2003 allows audit exemption of dormant companies and small exempt private companies with effect from financial year which commences on or after 15 May 2003.
However, these companies are still required to submit financial statements which comply with the Financial Reporting Standards and the Companies Act respectively. If any director fails to comply with these requirements, strict penalties are imposed.
Our team of qualified accountants will assist the directors to meet these requirements, including the following:
- Examining the management accounts from the
directors comprising the trial balance, profit and loss account and
the balance sheet.
- Reviewing the accounting policies adopted by
the Company. For a newly incorporated company, we will discuss with
the directors on the accounting policies to be adopted.
- Preparing a set of financial statements comprising the Directors' Report, the income statement, the balance sheet, statement of changes in equity and cash flow statement, together with the notes to financial statements for the financial period in accordance with prescribed formats required by Financial Reporting Standards and the Singapore Companies Act.
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| Charges range from S$300 depending on complexity and time spent. The total charges for this service will be small compared to the fee for a Statutory audit. | ||||
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| Dean Tow CPA Lawrence Phong CPA |
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