Compilation / Preparation of Financial Statements

All companies incorporated in Singapore are required to prepare financial statements that comply with Accounting Standards (also commonly known as Financial Reporting Standards) under Section 201 of the Companies Act 1967. This applies whether or not the company is exempt from audit. A set of financial statements is required to be prepared in order for the corporate secretary to file the annual requirements in XBRL. A company is also required to have a set of financial statements prepared for its income tax filing, although the financial statements only need to be submitted when filing Form C. A set of financial statements aids management in understanding the company’s performance and financial position far more easily than reading the underlying accounting records. To safeguard our independence as auditors, we do not provide financial statement compilation services. Our preferred accountancy service provider, KSN Group, can assist you: KSN Group financial statement compilation services.