Audit and Assurance services
We offer audit and assurance services which includes providing independent examination of financial statements to ensure accuracy and compliance with accounting standards.
Audit and Assurance Services
P & W Assurance PAC
At P & W ASSURANCE PAC, our focus is on delivering exceptional audit services across a wide spectrum of industries. Whether you operate in manufacturing, finance, technology, or any other sector, our team is equipped with the knowledge and skills to address your specific auditing requirements with precision and proficiency.
The following are professional audit services we provide:
1) Statutory Audits
2) Limited Scope Audits
3) Certification of financial information
We enhance the credibility of your Company’s financial statements to meet statutory requirements in Singapore and to attract potential investors. Additionally, we support reporting to your headquarters or country office for group consolidation purposes. Our audit methodology prioritizes risk assessment, focusing on key business drivers and their impact on financial reporting. We provide guidance on strengthening internal controls and assist in implementing improvements.
More About Our Audit and Assurance Services
How We Work?
What sets us apart is our dedication to employing state-of-the-art audit software and adhering to the rigorous standards outlined by the International Standards of Auditing (ISAs) and Singapore Standards of Auditing (SSAs). We take a risk-based approach to our audit performance, ensuring thoroughness and accuracy in our assessments while maximizing efficiency. We prioritize efficient audit planning and execution to ensure timely completion of your audit engagements.
Our proactive approach and effective communication with you enable us to identify potential bottlenecks early and mitigate delays, ensuring that you meet your reporting obligations without undue stress or pressure.
Frequently Asked Questions
Audit services refer to professional services provided by certified auditors or auditing firms to examine and evaluate an organization’s financial records, transactions, and internal controls. These services are typically conducted in accordance with established auditing standards and regulations to ensure accuracy, integrity, and compliance with relevant laws and regulations.
Our firm maintains a deep understanding of the regulatory landscape, staying abreast of the latest changes and updates to accounting standards and regulations. We ensure that our audit procedures are meticulously aligned with relevant regulatory requirements to provide you with confidence in the compliance of your financial statements.
While an audit focuses on the examination of financial statements, other assurance services may encompass broader activities such as reviews, compilations, agreed-upon procedures engagements, and attestation services covering various aspects of your Company’s operations beyond financial reporting.
In Singapore, a statutory audit is a mandatory examination of a Company’s financial records conducted in accordance with the Companies Act and other regulations. It is required for public companies listed on the Singapore Exchange and certain private Companies meeting specified criteria. The audit ensures the accuracy and fairness of financial statements, enhancing transparency and investor confidence in the Singapore business environment.
In Singapore, Companies are required to undergo statutory audits under the Companies Act if they are public companies listed on the Singapore Exchange (SGX), or if they are private limited companies that meet any two of the following criteria for two consecutive financial years: total annual revenue exceeding SGD 10 million, total assets exceeding SGD 10 million, or more than 50 employees. Additionally, subsidiaries of foreign companies operating in Singapore may also be subject to audit requirements based on their parent company’s jurisdiction or the significance of their activities.
We adhere to strict independence and objectivity standards set by regulatory bodies. Our auditors maintain independence from your company and any conflicts of interest are promptly identified and addressed to ensure the integrity of the audit process.
An audit can help identify areas for improvement in your Company’s financial reporting processes, internal controls, and risk management practices. It enhances transparency and credibility, which can lead to increased investor confidence and improved access to financing opportunities.
Our auditors stay updated with the latest accounting standards, regulations, and industry best practices. We conduct audits in accordance with applicable auditing standards and ensure compliance with regulatory requirements to provide assurance on the accuracy and reliability of your financial statements.
Our fee structure is transparent and tailored to the specific needs of your company. We will discuss our pricing upfront, including any additional costs associated with the audit engagement, to ensure clarity and alignment with your budgetary considerations.
Contact us for a quote today.
We provide clear and concise audit reports detailing our findings, observations, and recommendations for improvement. Our team collaborates with your management to address any identified issues promptly and effectively, fostering open communication throughout the audit process.
The duration of the audit process depends on the size and complexity of your company, as well as the scope of the audit engagement. We will provide you with a timeline and milestones upfront to ensure transparency and effective planning.
