Trusted Accounting Services in Singapore

Accounting

Under the Companies Act, directors of companies are responsible to present and lay before the company, at its annual general meeting, financial statements that:

  • comply with Accounting Standards issued by the Accounting Standards Council; and
  • give a true and fair view of the financial position and performance of the company.

In addition, directors of a company incorporated in Singapore are responsible to maintain a system of internal accounting controls and keep proper accounting and other records that will enable the preparation of true and fair financial statements under the Act, respectively.

Directors of companies, whether executive or non-executive, should exercise care, competence and diligence in the review of the financial statements that are presented to shareholders and subsequently filed with ACRA. Directors should read, understand and enquire into the form and content of the financial statements to ensure that the financial information presented is clear, complete and consistent with their understanding. Even if they are not accounting experts, directors should question the accounting treatments applied when the treatment does not reflect their understanding of the substance of arrangement. They should also apply professional scepticism when assessing management views’ on areas of significant judgement and estimates.

As part of our mission to handle all ongoing compliance requirements, our accounting services include but not limited to bookkeeping, preparation of management accounts, review of accounts as well as compilation of unaudited financial statements.