A Simple Guide on Audit Exemption in Singapore
A Singapore EPC* is a private limited company with 20 or fewer shareholders, none of which should be corporate entities. Such EPCs, with annual revenue below S$5 million, and dormant companies are exempted from having their accounts audited, and can just do unaudited financial statements, commonly known as director’s reports. But if the EPC’s annual turnover exceeds S$5 million, an annual statutory audit is mandatory.
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