AUDIT AND ASSURANCE ENGAGEMENT
Auditing and assurance are techniques used to evaluate a company's financial records. They are interconnected processes. The processes of audit and assurance involve confirming that the records present in the company's accounting record are accurate and in accordance with accounting standards and principles. The auditing procedure involves assessing the accounting entries included in the financial statement of the organization. The practice of assessing and evaluating accounting entries and financial data is known as assurance. Assurance is typically followed by an audit.
At TJ Assurance Partners PAC, our professionals are qualified practitioners who are equipped to express their expert opinion on financial information towards its relevant parties. We are dedicated to fortify the degree of confidence, to the intended users apart from the responsible parties regarding the outcomes of the evaluations or measurements of a specific subject matter against its criteria. Our practitioner is a registered Chartered Accountant and Public Accountant with the relevant authorities, Institute of Singapore Chartered Accountants (ISCA) and Accounting and Corporate Regulatory Authority (ACRA).
We adhere to international standards and local frameworks to ensure quality audits. The types of audit and assurance services frequently engaged from us:
- Statutory audits in accordance with Singapore regulations regarding submissions of declarations of annual financial statements;
- Certification to local regulatories; and
- Special purposes audits i.e. Claims summary, Fund raising appeal, licensee’s annual gross turnover and etc.
CORPORATE SECRETARIAL SERVICES
In accordance with state laws, a secretary must be appointed by a firm within six months of its incorporation. A company secretary in Singapore must be a natural person who lives there. The post of company secretary cannot remain vacant for more than six months. A business's company secretary and sole director cannot be the same individual. Private limited corporations are not required to appoint a professionally certified secretary. Only public corporations are required to appoint a professionally certified secretary (e.g. lawyers, accountants and chartered secretaries).
Company secretaries have a very diverse range of responsibilities, including everything from reporting and updating company information on ACRA to creating the CEO's agenda for annual general meetings (AGMs). Hence, company secretaries frequently take on many positions inside the company as a result of their vast job scope and various responsibilities.
Why fuss over the myriad legal and regulatory framework? Skip the fuss and intricacies of the legal processes, and let our professionals do what they do best by simplifying the complexity and ensuring your Company is in compliance with the law.
Our Corporate Secretarial Services range from Incorporation of Company to filing of AGM with the relevant authorities.
Companies that conduct business in Singapore, whether they are residents or not, are subject to tax on both their foreign and Singapore-sourced revenue when they are repatriated or presumed remitted to Singapore. When certain categories of income (such as interest, royalties, technical service fees, and the rental of moveable property) are judged to originate in Singapore, non-residents are subject to WHT (withholding tax) on such types of income.
Given the differences between accounting and tax treatments, the computation of chargeable income may not be as simple as extracting profit before tax from the financials. Accurate submission of tax returns can be complicated, challenging and time consuming.
Our Taxation Services include preparation of income tax computations and supporting schedules as well as correspondence with IRAS.
ACCOUNTING AND BOOK-KEEPING SERVICES
Accounting and book-keeping services are unquestionably essential for handling your finances, particularly your company's assets, earnings, and profit and loss. Despite their similarities, these two services have significant variances that should be noted. In its most basic form, accounting encompasses the process of identifying, measuring, and strategically ordering financial transactions in a consistent manner, in addition to focusing on recording and organizing financial data. Because bookkeeping is the initial step in the accounting process, accounting cannot advance without efficient book-keeping services. In an ever-changing business climate, one cannot thrive without the other. Accounting services are the greatest instruments for summarizing, analyzing, and interpreting financial activities in the ledger account since they manage and monitor your business's financial status while also thoroughly providing information about your financial health.
We offer our book-keeping services specifically to Small and Medium Enterprises that values timely reporting at reasonable prices. Regardless of whether your business requires monthly reporting to stakeholders or annual consolidation for filing requirements, we can tailor our book-keeping services to suit your requirements and fulfil your needs.
Our accounting and book-keeping services include:
- Preparation of management accounts;
- Compilation of financial statements;
- Preparation of required financial statements format, XBRL;
- Review of accounting records for annual audit; and
- Consolidation of financial statements.