AUDIT SERVICES

In today’s demanding regulatory environment, businesses face increasingly complex risks. You need to uphold the integrity of your financial information to build credibility and gain trust. An independent, external audit of the reliability of your financial statements adds value to your business by promoting accountability, enhancing corporate governance and instilling confidence amongst your stakeholders.

At Teo Liang Chye PAC, integrity and professionalism underpin our audit and assurance services. We adopt a disciplined approach to provide an unbiased and objective assessment of your financial statements. In delivering a quality audit, we add value to your business so that you can make informed decisions, take steps to resolve risks and move forward with confidence.

Benefits of our Auditing Services

From local enterprises to multinational corporations and private companies to listed entities, having a professional auditor can help you to comply with regulatory requirements. In addition, our audit and assurance services can:

  • Provide a big picture of your company’s financial health
  • Deliver an unbiased and objective opinion of your financial statements
  • Assist in detecting fraud and identifying areas where lapses can be rectified
  • Identify strengths and weaknesses in your internal controls
  • Provide you with complete and better information to enhance the effectiveness of your decision-making

HOW WE CAN HELP

Statutory Audits

Singapore-incorporated companies are required to conduct statutory audits in accordance with the Companies Act, unless they are exempted from doing so. Under our statutory audit services, we will review of your financial records to determine whether they represent a true, accurate and fair view of your financial affairs. For every engagement, we use dynamic tools and rely on our deep technical skill sets to test the reliability of your financial statements. We adopt a risk-based approach by understanding your business environment, evaluating items that have the highest risks and assessing the impact of those risks.

Non-Statutory Audits

A non-statutory audit is not compulsory by law. However, entities such as charitable organisations, sole proprietors, partnerships, clubs and associations can carry out a non-statutory audit to establish credibility amongst their stakeholders or clients. Under our non-statutory audit services, we will conduct an objective assessment of your business affairs. Besides financial reporting, non-statutory audits can also cover other areas of your business such as your IT system, accounting system and management structure. They are useful in identifying whether your business is running efficiently. In our review, we will also help you to identify weaknesses and gaps that arise and provide recommendations to address areas of concern.

Due Diligence

We conduct due diligence for companies planning to embark on an M&A exercise. We can work for buyers, lenders or sellers to evaluate all aspects of the transaction including risks, opportunities, financial metrics, earnings projections, strategic fit and legal issues. By assessing the financial realities and potential synergies of the deal, our clients will be better able to make more informed investment decisions.

Review of Internal Controls

Companies need to maintain effective internal controls to mitigate risks such as fraud and error. You need to constantly review your systems of internal control to adapt to changing trends, goals, priorities and threats. We can help to evaluate whether you have adequate and appropriate internal controls in place to manage your risks. If we identify weaknesses in your systems, we will make practical recommendations to address those gaps so that you can operate more efficiently.

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