It is important to keep proper internal accounting records that will enable the preparation of true and fair financial statements to meet the regulatory compliance requirements. As business decisions are often based on financial information, the financial statements and records must be reliable, timely and satisfactorily explain the transactions and financial position of the company.
With our professional accounting team, we will help to ensure that your company accounts are properly maintained so you can free up your time and resources to focus on growing your business.
All Companies incorporated in Singapore must retain accounting record of business transactions for a minimum of 5 years pursuant to Section 199(2) of the Companies Act.
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Bookkeeping Services
Annually
Companies with small number of transactions can consider our yearly book-keeping services. We will prepare the required reports for submission to government bodies such as IRAS and ACRA on a yearly basis.
Monthly
This is an ideal choice for companies with a high volume of transactions and a desire of keeping track of their business performance and cash flow on regular basis.
Scope of Work
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Regulatory Compliance
Assist companies in completing certain reporting requirements under existing rules and regulations of regulatory bodies such as the XBRL report filing to ACRA and Statistics Singapore.
XBRL filing can be a time-consuming and daunting process for many companies. Our team can assist you with the preparation of financial statements in XBRL format proficiently and cost-effectively.
Financial Statements Services
Singapore private limited companies which enjoy audit exemptions are still required to prepare the “Financial Reports” in line with the Singapore Financial Reporting Standards (FRSs) and Companies Act.
RMS provide compilation of accounts by preparing unaudited financial statements that are representations of the management.
The unaudited financial statements or compilation report is to be tabled during AGM, Annual Return Filing with ACRA and income tax filing with IRAS.
Audit
Auditing of Report is only required if the Company satisfies any 2 of the following 3 criteria within the financial year.
- More than 50 employees
- Assets more than $10 million
- Annual revenue more than $10 Million
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