3 Things to Consider When Choosing Auditing Services in Singapore

Choosing a reputable audit firm in Singapore can be likened to choosing a business partner. The success and credibility of your business heavily rely on the audit firm that you settle for just as it is with a business partner. Accounting and auditing firms in Singapore offer an array of services such as tax filing, bookkeeping and accounting tasks, advisory services and more. As a general rule, it’s advisable that you hire an audit firm in Singapore that’s credible, dependable, and has the required expertise to handle financial records.

Lack of proper financial management can potentially lead to business failure and that’s why it’s vital that you work with a reputable audit firm instead of just working with an individual. An audit firm has in place a team of professionals that are well versed on a number of professional services and engaging them can be quite cost effective. Hiring the right audit firm in Singapore has the potential of bringing a positive impact on your business operations overall.

Here are some of the things to consider when choosing an audit firm in Singapore;

Specialization

A good auditing firm should be able to provide a range of corporate services such advisory, accounting, tax filing, tax planning, financial reporting and more. The audit firm that you engage should have a team of professionals that are experts in their various corporate services fields. When you hire such an audit firm, you not only benefit from business advisory services but can be assured that your financial records will be accurate and capable of revealing the true status of your company.

In depth knowledge on taxation

Income tax filing is a statutory requirement that companies should adhere to and failure to abide by such has the potential of attracting penalties. When choosing auditing services in Singapore, you should find out if they are well versed with taxation issues. They should be well versed with taxation information and tax laws. Ensure that you engage a firm that’s capable of doing accurate company’s financial reporting according to IRAS tax regulations. The firm engaged to offer auditing services should be well versed calculating tax liability, and should also ensure that compliance to statutory obligations is observed.

Qualifications and Credibility

Qualifications of the personnel working for the firm that you choose to engage for auditing services in Singapore is another key factor to consider. You should take time and get to know the level of qualification of those entrusted with working on your financial record. You can be assured of quality service if the firm has in their team CA professionals as that’s proof that they have the qualifications and required expertise to do your auditing work effectively. Apart from the qualifications, the ideal firm should be well versed with companies Act regulations in Singapore

Proven expertise is quite critical and should be ascertained before settling on the perfect firm that’s offering auditing services in Singapore. Factors such as fees and level of experience are also vital and should be considered when choosing auditing firm in Singapore

Originally published by onestop-audit.com