Audit and Assurance

The purpose of an independent audit in the capital markets is to be able to trust the information prepared by clients for use by investors and other stakeholders.

The audit approach we implement is based on the latest best practices and leverages our extensive industry knowledge to fit the size and nature of your organization. Besides keeping you compliant with regulations and legislation, we can also help with your complex reporting issues.

We encourage open communication and understand the importance of identifying and resolving critical issues as soon as possible. That’s why our engagement team personnel are readily available for all our clients to reach them.

In Singapore, what companies need to be audited?

From July 1, 2015, the Amended Companies Act took effect.

A company meets two out of three of the following criteria to be considered a small one:

  • The company’s total revenue must not exceed S$10 million per year.
  • The company’s assets must not exceed S$10 million at the end of the fiscal year.
  • The number of full-time employees must not exceed 50.

Each company within the group must qualify as a “small company” in order to be exempt from audit requirements.

How Bluebox can help?

The audit partners are well-trained and knowledgeable, as they have access to the latest accounting and auditing information to carry out audits efficiently and effectively.

Our audit process identifies the key risk areas based on a company’s operations and performance. We do not only examine your financial statements, but we also examine your business operations. During the statutory audit of your financial statements, we adhere to rigid professional standards.

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Every firm relies heavily on cash flow. Getting paid on time is one of the most important aspects of any successful business. Accounts that are past due can take you away from your essential business operations.

Bookkeeping

The Singapore Companies Act mandates that all Singapore-based companies maintain accurate books of accounts. Bookkeeping is essential for day-to-day account maintenance and also for business decision-making and financial management.

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