Statutory Audit Services in Singapore: ACRA Compliance, Exemption Rules & Transparent Fee Guide (2026)
Statutory Audit Services in Singapore: ACRA Compliance, Exemption Rules & Transparent Fee Guide (2026)
Bestar Singapore provides ACRA-registered statutory audit, special purpose audit, and financial assurance services for Singapore private limited companies, SMEs, and multinational subsidiaries. Under Section 205B and Section 205C of the Singapore Companies Act, companies that exceed small company audit exemption thresholds must appoint an independent Public Accountant registered with the Accounting and Corporate Regulatory Authority (ACRA) within three months of incorporation.
Does Your Singapore Company Require a Statutory Audit?
A Singapore private limited company qualifies for Small Company Audit Exemption if it is a private company throughout the financial year and meets at least two of the following three quantitative criteria for the immediate past two consecutive financial years:
Exemption Criteria | Quantitative Threshold |
|---|---|
Total Annual Revenue | Not more than S$10 million |
Total Assets | Not more than S$10 million |
Number of Full-Time Employees | Not more than 50 employees |
Group Consolidation Rule: If your company belongs to a corporate group (parent or subsidiary), both your individual company and the entire group on a consolidated basis must meet at least two of the three criteria above to qualify for audit exemption.
Core Statutory & Assurance Services Offered
We execute independent financial audits in strict compliance with the Singapore Standards on Auditing (SSA) and Singapore Financial Reporting Standards (SFRS):
Statutory Financial Statement Audits: Full-scope annual audits for ACRA XBRL filing and Inland Revenue Authority of Singapore (IRAS) Form C / Form C-S corporate tax submissions.
Group & Consolidated Audits: Multi-entity audit coordination for Singapore holding companies with regional subsidiaries across ASEAN, Hong Kong, and China.
Special Purpose & Grant Audits: Independent certification for Enterprise Singapore (ESG) grants, MAS regulatory compliance, Gross Turnover (GTO) landlord certifications, and MCST management corporation audits.
Internal Control & Risk Reviews: Pre-audit readiness assessments, internal control gap testing, and financial due diligence for mergers and acquisitions (M&A).
How Much Do Statutory Audit Services Cost in Singapore?
Statutory audit fees in Singapore are determined by annual revenue, transaction volume, balance sheet complexity, and accounting record readiness—not arbitrary hourly billing.
Company Revenue / Profile | Estimated Starting Fee (SGD) | Typical Turnaround Time |
|---|---|---|
Dormant / Low-Activity Entities (Required by parent/bank) | From S$1,800 | 2 – 3 weeks |
Small & Medium Enterprises (Revenue S$10M – S$25M) | From S$3,500 – S$6,500 | 3 – 5 weeks |
Mid-Market & Multi-Subsidiary Groups (Revenue > S$25M) | Custom Fixed Quote | 4 – 8 weeks |
Note: All engagements follow a transparent, fixed-fee schedule agreed upon prior to commencement, with zero hidden administrative surcharges.
Our 4-Step Streamlined Statutory Audit Process
Pre-Audit Scoping & Fixed-Fee Proposal: We review your latest management accounts and corporate structure to issue a clear engagement letter and fixed-fee schedule.
PBC (Prepared-By-Client) Checklist & Digital Fieldwork: You receive a structured document checklist. All schedules, bank confirmations, and sample vouchers are reviewed securely via encrypted digital workflows to minimize disruption to your finance team.
Audit Adjustments & Management Letter: We discuss any SFRS accounting adjustments and provide practical recommendations to strengthen internal financial controls.
Signed Independent Auditor’s Report: Upon partner review, we issue the signed Independent Auditor’s Report ahead of your Annual General Meeting (AGM) and ACRA Annual Return deadlines.
Frequently Asked Questions (FAQ)
What is the deadline to appoint an auditor in Singapore?
Every newly incorporated Singapore company must appoint an auditor within 3 months of incorporation, unless it qualifies for small company or dormant company audit exemption under the Singapore Companies Act.
Can a company change its statutory auditor in Singapore?
Yes. To change auditors, the outgoing auditor must submit a formal notice of resignation and obtain ACRA consent (for public interest companies or non-routine resignations), followed by an ordinary resolution passed by shareholders at a General Meeting to appoint the new Public Accounting Corporation.
What documents are required to start a statutory audit?
To commence fieldwork, prepare your trial balance, general ledger, bank statements and reconciliations, fixed asset register, accounts receivable/payable aging schedules, inventory listing, and signed board resolutions or contracts for major transactions.
Why do exempt Singapore companies still request voluntary audits?
Audit-exempt SMEs frequently commission voluntary statutory audits to secure corporate bank loans, satisfy institutional investors during fundraising, meet vendor tender requirements, or establish credible financial valuations ahead of a business sale.
Request a Fixed-Fee Statutory Audit Quote
Ensure timely ACRA compliance and seamless financial reporting. Submit your latest trial balance or company profile to receive an itemized statutory audit proposal within 1 business day.
Official Inquiries & Proposals: Submit your corporate details via our online inquiry form for a direct written quotation from our audit engagement team.
Statutory Audit Services in Singapore: ACRA Compliance, Exemption Rules & Transparent Fee Guide (2026)
Comments