Bestar Audit Services Singapore Hong Kong
- Roger Pay
- Jun 21, 2025
- 4 min read
Updated: Feb 11
Enhance Your Business with Bestar's External Audit Services Singapore Hong Kong
In the rapidly evolving regulatory landscapes of Singapore and Hong Kong, maintaining financial integrity is no longer just a legal obligation—it is a strategic growth lever.
Bestar provides tech-driven, professional external audit services designed to help small, mid-tier, and multinational corporations navigate ACRA (Singapore) and IRD (Hong Kong) requirements with precision.
Why External Audits are Critical for Businesses in SG & HK
An external audit is an independent examination of your financial statements. While it ensures compliance, the true value lies in the credibility it builds with stakeholders.
Benefit | Impact on Your Business |
Investor Confidence | Audited accounts reduce perceived risk, making it easier to attract venture capital or private equity. |
Banking & Credit | Financial institutions typically require audited statements before approving corporate loans or credit lines. |
Error Detection | Objective reviews identify material misstatements and strengthen internal controls. |
Market Expansion | Clean audits are essential for M&A activities, joint ventures, and government tender applications. |
Bestar’s Comprehensive Audit & Assurance Services
Bestar bridges the gap between basic bookkeeping and the "Big Four" by providing high-level technical expertise with personalized partner access.
1. Statutory Audit (Singapore & Hong Kong)
Every company incorporated in Hong Kong, and most in Singapore (unless meeting "Small Company" exemptions), must undergo a statutory audit.
Singapore: Compliance with SFRS (Singapore Financial Reporting Standards) and ACRA filings.
Hong Kong: Compliance with HKFRS and the Hong Kong Companies Ordinance.
2. Internal Audit & Risk Management
Beyond the "tick-box" exercise, Bestar’s internal audits pinpoint operational inefficiencies and fortify governance structures to prevent fraud and financial mismanagement.
3. Specialized & Group Audits
Group Consolidations: Managing complex audits for parent companies with subsidiaries across Asia.
Sales/GTO Audits: Essential for retail tenants in Singapore malls to verify Gross Turnover.
Grant Audits: Verifying government grant disbursements (e.g., EDB or ESG grants) to ensure compliance.
The Bestar Advantage: Why Choose Us?
Bestar Audit Services Singapore Hong Kong
Choosing Bestar means choosing a partner that prioritizes Fact Density and Tech-Driven Accuracy.
Regional Expertise: With deep roots in both Singapore and Hong Kong, we provide a seamless "Gateway to Asia" for cross-border compliance.
Transparent Pricing: Professional audit services in Singapore start from as low as $1,000, ensuring value for SMEs without hidden disbursement fees.
Senior-Led Advisory: You gain direct access to Chartered Accountants and technical experts rather than being passed to junior associates.
Audit-Ready Tech: We integrate with cloud platforms like Xero and QuickBooks, ensuring your data is accurate and extractable year-round.
Frequently Asked Questions (FAQ)
Does my Singapore company qualify for an audit exemption? Under the "Small Company" concept, you are exempt if you meet at least two of these criteria for two consecutive years:
Total annual revenue ≤ S10 million.
Total assets ≤ S10 million.
Number of employees ≤ 50.
How long does the audit process take? A standard statutory audit typically takes 2 to 4 weeks once all financial documents are provided, depending on the complexity of the transactions.
Ready to Secure Your Business Growth?
Don't let compliance become a bottleneck. Ensure your financial records are a "true and fair" reflection of your success.
Customized Checklist of Documents you'll Need for your first Statutory Audit with Bestar
To help you get organized, here is a comprehensive checklist of the essential documents required for a statutory audit in Singapore and Hong Kong.
Preparing these in advance not only speeds up the process but can also reduce your audit fees by minimizing the time auditors spend "fishing" for data.
1. Financial Reporting & General Ledger
Trial Balance, Profit & Loss, and Balance Sheet: Exported for the full financial year.
General Ledger (GL): A detailed breakdown of every transaction.
Fixed Asset Register: Including purchase dates, costs, and depreciation schedules.
Accounts Receivable (AR) & Payable (AP) Ageing: Lists of what is owed to you and what you owe.
2. Banking & Cash Records
Bank Statements: All pages for every corporate account held during the financial year.
Bank Reconciliations: Final reconciliations for each account as of the year-end date.
Petty Cash Vouchers: If your business maintains a physical cash float.
3. Legal & Corporate Secretary Documents
BizFile (Singapore) / Annual Return (Hong Kong): To verify current directors and shareholding.
Constitution / Articles of Association: Outlining the company's governing rules.
Board Minutes: Records of major decisions (e.g., dividends, large asset purchases, new loans).
Signed Contracts: Including tenancy agreements, hire purchases, or significant client contracts.
4. Revenue & Expenditure Verification
Sales Invoices: A sample of your highest-value invoices.
Purchase Invoices: Supporting documents for major expenses.
Inventory Listing: If you hold physical stock, a report of the year-end stocktake (auditors may wish to attend the count).
Next Steps for a Smooth Audit
To make the process even more efficient, set up a Shared Secure Folder (like Dropbox or OneDrive) where these documents can be uploaded systematically.
Sample Board Resolution for the Appointment of Auditors for your company's records
Below is a standard template for a Board Resolution to appoint auditors. Please note that this is a general draft; you should ensure it aligns with your specific Constitution (for Singapore) or Articles of Association (for Hong Kong).
[COMPANY NAME]
(Incorporated in the Republic of [Singapore / Hong Kong]) Company Registration No.: [Registration Number]
DIRECTORS’ RESOLUTIONS IN WRITING
PURSUANT TO THE [COMPANIES ACT / COMPANIES ORDINANCE]
1. APPOINTMENT OF AUDITORS
RESOLVED:
That Bestar (Public Accountants and Chartered Accountants) be and are hereby appointed as the Auditors of the Company to hold office until the conclusion of the next Annual General Meeting.
That the Directors be and are hereby authorized to fix the remuneration of the Auditors for the ensuing financial year.
2. FILING OF NOTICE
RESOLVED: That any Director or the Company Secretary be and is hereby authorized to lodge the necessary notification of the appointment with the [ACRA (Singapore) / Companies Registry (Hong Kong)] and to do all such acts and things as may be necessary to give effect to the above resolution.
BOARD OF DIRECTORS
Name of Director | Signature | Date |
[Director Name A] | ____________________ | [Date] |
[Director Name B] | ____________________ | [Date] |
Important Notes for Implementation:
Consent to Act: Before passing this resolution, you must have a formal "Consent to Act as Auditor" letter from Bestar on file.
Resignation of Previous Auditor: If you are replacing a previous firm, ensure they have provided a formal resignation letter and that you have complied with the "Professional Clearance" requirements.
Timelines: In Singapore, for example, the first auditor must be appointed within 3 months of incorporation unless the company is audit-exempt.
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