[et_pb_section fb_built=”1″ _builder_version=”4.21.0″ _module_preset=”default” custom_margin=”||-71px|||” global_colors_info=”{}”][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/lowyap.com.sg\/wp-content\/uploads\/2024\/02\/getty-images-E_j-qPTekuE-unsplash.jpg” title_text=”getty-images-E_j-qPTekuE-unsplash” disabled_on=”off|off|on” _builder_version=”4.24.1″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.24.2″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
<\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n Terms of Use: <\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/lowyap.com.sg\/wp-content\/uploads\/2024\/02\/getty-images-E_j-qPTekuE-unsplash.jpg” title_text=”getty-images-E_j-qPTekuE-unsplash” disabled_on=”on|on|off” _builder_version=”4.24.1″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_row _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_toggle title=”What are the accounting responsibilities of a business operating in Singapore?” _builder_version=”4.24.2″ _module_preset=”default” title_level=”h3″ title_text_align=”left” title_line_height=”1.23em” global_colors_info=”{}”]<\/p>\n <\/span><\/p>\n All businesses are required to maintain proper books of accounts for at least 5 years:<\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n under the provisions of the Companies Act 1967 and the Income Tax Act 1947 respectively.<\/span><\/p>\n [\/et_pb_toggle][et_pb_toggle title=”Do all companies incorporated in Singapore require annual statutory audits?” _builder_version=”4.24.2″ _module_preset=”default” title_level=”h3″ title_text_align=”left” title_line_height=”1.23em” body_ul_line_height=”2.5em” custom_css_free_form=”#et-main-area ul {|| padding-bottom: 10px;||}||||.entry-content selector li li { || padding-bottom: 10px;||}||||||.entry-content selector li li { || list-style-type: circle !important;||}||||.entry-content selector li li li { || list-style-type: square !important;||}||||||.entry-content selector li li li li li{ || list-style-type: square !important;||}||||||.entry-content selector ol ol li { || list-style-type: lower-roman !important;||}||||||selector.et_pb_toggle ol li li{|| padding-bottom: 0px !important;||}” global_colors_info=”{}”]<\/p>\n Directors of companies incorporated in Singapore are required to appoint auditors within 3 months of incorporation, except for companies that are exempt from annual statutory audits.<\/span><\/p>\n <\/span><\/p>\n Companies that are exempt from the audit requirements in Singapore include:<\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n A company is a \u201csmall company\u201d for a financial year if:<\/span><\/span><\/span><\/p>\n <\/span><\/span><\/span><\/li>\n<\/ul>\n <\/span><\/p>\n A group is a small group for a financial year if the group satisfies any two of the following criteria for each of the two consecutive financial years immediately preceding the financial year:<\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n There is no statutory audit requirement for the financial statements of representative offices, partnerships, sole proprietorships and limited liability partnerships.<\/span><\/p>\n [\/et_pb_toggle][et_pb_toggle title=”Does a Singapore registered branch require annual statutory audits?” _builder_version=”4.24.2″ _module_preset=”default” title_level=”h3″ title_text_align=”left” title_line_height=”1.23em” custom_css_free_form=”#et-main-area ul {|| padding-bottom: 10px;||}||||.entry-content selector li li li { || list-style-type: circle !important;||}||||.entry-content selector li li li li { || list-style-type: square !important;||}||||.entry-content selector li li li li li { || list-style-type: square !important;||}||||.entry-content selector ol ol li { || list-style-type: lower-roman !important;||}||||selector.et_pb_toggle ol li{|| padding-bottom: 15px !important;||}||selector.et_pb_toggle ol li li{|| padding-bottom: 0px !important;||}” global_colors_info=”{}”]<\/p>\n A Singapore registered branch of a foreign company is required to have its financial statements audited annually unless it is:<\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n [\/et_pb_toggle][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" Frequently Asked Questions Terms of Use:The information, content and other materials provided on this website are provided on an \u201cas is\u201d and \u201cas available\u201d basis for general information purposes and not as professional advice. No warranties of any kind are given. All businesses are required to maintain proper books of accounts for at least […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-7459","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/lowyap.com.sg\/index.php\/wp-json\/wp\/v2\/pages\/7459","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lowyap.com.sg\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/lowyap.com.sg\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/lowyap.com.sg\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lowyap.com.sg\/index.php\/wp-json\/wp\/v2\/comments?post=7459"}],"version-history":[{"count":5,"href":"https:\/\/lowyap.com.sg\/index.php\/wp-json\/wp\/v2\/pages\/7459\/revisions"}],"predecessor-version":[{"id":8247,"href":"https:\/\/lowyap.com.sg\/index.php\/wp-json\/wp\/v2\/pages\/7459\/revisions\/8247"}],"wp:attachment":[{"href":"https:\/\/lowyap.com.sg\/index.php\/wp-json\/wp\/v2\/media?parent=7459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
The information, content and other materials provided on this website are provided on an \u201cas is\u201d and \u201cas available\u201d basis for general information purposes and not as professional advice. No warranties of any kind are given.<\/span><\/p>\n\n
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