Compiliation Report
SINGAPORE ACCOUNTING FIRM / BOOKKEEPING FIRM
Exemption from audit
Your company may be exempted from audit requirement if it meet the requirements of an Exempt Private Company (“EPC”) as follow:
Compilation of financial statement requirement
A company that is exempted from audit and filing requirement is still required to prepare a full set of financial statements (compilation report) including explanatory Notes to the Accounts, Directors’ Report and the Statement by Directors. These must be prepared in compliance with the Financial Reporting Standards of Singapore (“FRS”).
A compilation report will give you the comfort that the information is compiled with professional competence and due care. It is also sufficient for income tax filing purpose.