Dear all,
Understand that for Pte ltd which it's turnover more than 5 million it's exempt private certificate need to be sign by auditor , is this correct ?
If the auditor refuse to sign will he against any law ?
I knew we no need to attach the certificate with ACRA, is that necessary to get auditor' signature ?
Thanks
SINGAPORE EXPATS FORUM
Singapore Expat Forum and Message Board for Expats in Singapore & Expatriates Relocating to Singapore
Annual filing with ACRA
- togeorgemathew
- Member
- Posts: 21
- Joined: Mon, 15 Nov 2010 9:02 pm
- Location: 28 Maxwell Road, #03-05 Red Dot Traffic Building,Singapore
- Contact:
Exempt private company / Audit
Hi Michelle,
Companies which have turnover in excess of S$5M are no longer in the exempt (from audit) category. They are required to have an audit report on their financial statements.
The auditor can refuse to undertake an audit engagement. They will usually not refuse to sign the audit report unless there is a case of breach of contract. An auditor who finds errors with the company's accounts will partially or fully qualify the accounts, that is state that the accounts are not prepared or verified in a proper manner.
Yes it is necessary to get an auditors signature on your accounts, ACRA does not require it to be uploaded but can ask for the audited statements for verification anytime.
George
Companies which have turnover in excess of S$5M are no longer in the exempt (from audit) category. They are required to have an audit report on their financial statements.
The auditor can refuse to undertake an audit engagement. They will usually not refuse to sign the audit report unless there is a case of breach of contract. An auditor who finds errors with the company's accounts will partially or fully qualify the accounts, that is state that the accounts are not prepared or verified in a proper manner.
Yes it is necessary to get an auditors signature on your accounts, ACRA does not require it to be uploaded but can ask for the audited statements for verification anytime.
George
[ www.servolve.com ]
-
- Member
- Posts: 37
- Joined: Sat, 23 Jun 2012 2:07 pm
Re: Exempt private company / Audit
Thanks for your reply George,
What i refer to is the auditor's signature on the Exempt Private Certificate(EPC certificate) ( as advertised on the ACRA website as follow)
Attachment for filing : Table 2 Certificate for annual return :CertificateByanExemptPrivateCompanyundersection197.pdf
Yes, we no need to attach the certificate during lodgement time, is that means that the auditor NOT REQUIRED to sign on EPC certificate for turnover more than 5 million ?
Thanks
What i refer to is the auditor's signature on the Exempt Private Certificate(EPC certificate) ( as advertised on the ACRA website as follow)
Attachment for filing : Table 2 Certificate for annual return :CertificateByanExemptPrivateCompanyundersection197.pdf
Yes, we no need to attach the certificate during lodgement time, is that means that the auditor NOT REQUIRED to sign on EPC certificate for turnover more than 5 million ?
Thanks
togeorgemathew wrote:Hi Michelle,
Companies which have turnover in excess of S$5M are no longer in the exempt (from audit) category. They are required to have an audit report on their financial statements.
The auditor can refuse to undertake an audit engagement. They will usually not refuse to sign the audit report unless there is a case of breach of contract. An auditor who finds errors with the company's accounts will partially or fully qualify the accounts, that is state that the accounts are not prepared or verified in a proper manner.
Yes it is necessary to get an auditors signature on your accounts, ACRA does not require it to be uploaded but can ask for the audited statements for verification anytime.
George
- togeorgemathew
- Member
- Posts: 21
- Joined: Mon, 15 Nov 2010 9:02 pm
- Location: 28 Maxwell Road, #03-05 Red Dot Traffic Building,Singapore
- Contact:
Re: Annual filing with ACRA
Hi Michelle,Michelle Lai wrote:Dear all,
Understand that for Pte ltd which it's turnover more than 5 million it's exempt private certificate need to be sign by auditor , is this correct ?
If the auditor refuse to sign will he against any law ?
I knew we no need to attach the certificate with ACRA, is that necessary to get auditor' signature ?
Thanks
Just adding to George's comments above.
In my experience, it is important to choose an auditor carefully. I suggest looking beyond just their fees and instead compare how they will work with your team.
Find out what kind of planning they will offer at the beginning of the financial year, to pick up problems in the accounts before they arise.
I've seen cases where auditors refuse to sign the accounts, but also refuse to collaborate early on and educate the client and other stakeholders.
-
- Similar Topics
- Replies
- Views
- Last post
-
-
What due diligence does a nominee director service provider is required to conduct pre-ACRA registration on investors?
by Da_Ku » Wed, 19 Dec 2018 6:27 pm » in Business in Singapore - 3 Replies
- 3020 Views
-
Last post by Strong Eagle
Fri, 21 Dec 2018 7:39 am
-
-
-
Process to change the paid-up capital with ACRA
by dnmrk49 » Wed, 20 Mar 2019 12:44 am » in Business in Singapore - 3 Replies
- 2953 Views
-
Last post by Strong Eagle
Wed, 27 Mar 2019 10:11 pm
-
-
-
Filing for divorce while living overseas
by addiegirl » Fri, 08 Jun 2018 3:05 pm » in Strictly Speaking - 4 Replies
- 3630 Views
-
Last post by rafael.lps
Mon, 25 Jun 2018 7:29 am
-
-
-
Pte. set-up. Have to engage a registered filing agent?
by martincymru » Wed, 03 Jul 2019 12:37 pm » in Careers & Jobs in Singapore - 7 Replies
- 2649 Views
-
Last post by Strong Eagle
Thu, 04 Jul 2019 9:49 pm
-
-
-
DP holder overseas job - Tax filing
by vibhash.joshi » Tue, 10 Aug 2021 10:06 pm » in Careers & Jobs in Singapore - 5 Replies
- 3975 Views
-
Last post by Myasis Dragon
Tue, 05 Apr 2022 3:35 am
-
Who is online
Users browsing this forum: No registered users and 17 guests