Compilation of financial statements refers to the accounting practice of compiling together all the financial statements, unaudited, namely – Profit and Loss statement, balance sheet, etc. together to provide an outlook to the public at large about the financial position, standing and functioning of the company.
The report thus compiled assured the public at large that the financial information put together is true and created with due care and diligence. As per the Companies Act of Singapore, it is mandatory for all Pte. Ltd. Companies to prepare financial reports in a proper format stated by both the Act and by the Singapore Financial Reporting Standards.
- Services Compilation of Financial Services
As per the amendments to Singapore Companies Act, Cap 50, which came into effect from 1 July 2015, any Singapore private limited company enjoys audit exemption if it fulfills any 2 of 3 following prerequisite conditions:
- Total Annual Revenue is less than $10 Million
- Total Assets of the business are not more than $ 10 Million
- The number of employees is less than 50
With years of experience in terms of expertise at our hand, Bestar is the name you want to partner with for compilation financial statement services in Singapore. Our expertise together combined with our technical know-how provides resilient results to all kinds of enterprises.
Our capable and highly experienced team of professional accountants, bookkeepers, management accountants, tax professionals and corporate secretaries know how to navigate the extremely stringent regulatory mechanisms in Singapore. We are well-versed and efficient enough to deliver you with quality services at all times!
If Accounting is the language of your Business. We are always happy to help. Call Us.
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