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FChain's Financial Audit Services

FChain's Financial Audit Services

Financial audit services Singapore

Compliance with legal requirements is one of the goals of an audit. A specialist reviews the financial statements, identifies errors or deficiencies, and then provides tax advisory services. Thus, the paperwork is compliant and you become eligible for certain benefits.

It is not possible to carry out a full audit cycle without a minimum of knowledge. The same goes for experience in performing financial statement evaluation. Considering this, you need to take the help of experts. Experience, knowledge and qualified assessment allow you to avoid problems in the future. Before seeking assistance, we recommend familiarizing yourself with the basic rules of auditing.

Accounting and tax advisory services: why specialist services are necessary

It is not always possible to manage a company and prepare financial statements on time. Lack of time should not affect the results of your work. Besides, most entrepreneurs have a ready-made solution – hiring a tax expert.

What is included in the list of services offered? It is easy to guess that the specialist carries out all mandatory operations that are related to the financing of the company, including:

calculating corporate or income tax;
learning how to use the simplified tax system;
working with books to record taxes, income and expenses.

A proper distribution of effort is at the heart of an efficient audit. If you do not have enough time to familiarize yourself with the regulations, it is a good idea to bring in a more experienced employee. This way you can comply with the law and increase profitability.

International accounting & tax expert: when you need it

Singapore is a country that is open to foreigners. This also applies to their business, which they can transfer and develop outside their home country. A report for corporate tax prepared by a responsible accountant will help you to take the chance and maximize the benefits.

The range of services includes several areas at once. Keeping secretarial records, drawing up the required tax statements as well as controlling the financial situation are part of the offered possibilities. Thus, company maintenance and assistance with the allocation of funds are needed in most cases.

Where to start Financial advisory services

To utilize the services of an accountant, you need to determine the scope of the tasks you need help with. To do this, evaluate the list of proposed options and ask additional questions. This way, you will not only get answers but also be sure of the right solution.

You should use financial audit services in Singapore for the following reasons:

accuracy of financial records and compliance with laws;
calculation of corporate (income) tax for timely payment;
checking the quality of the current accounting department;
organization and maintenance of financial records in accordance with regulations;
evaluation of transactions with funds to optimize processes.

These services are equally relevant to large and small companies, Singaporean and international firms, local and remote offices. An added advantage is the opportunity to save money, which avoids tax liability.

Experience auditing

It is worth considering the preparation of accounting documents as a way of providing security for yourself and your business. Accounting books, counting finances and settling the tax payment system is beneficial, and you can see this without much difficulty.

However, experience is needed to carry out the mandatory account transactions. An accountant who offers tax advisory services is able to help with this. It is not only his responsibility to fill out the accounting forms correctly, but also to show an example for future reports.

Why do you need financial statement audit services?

Taxes are calculated based on the documentation. In addition, entrepreneurs can reduce the interest rate in this way. For this purpose, financial statements for VAT are made and then the information is checked for compliance with the following conditions:

the number of employees does not exceed 50 people;
annual turnover of funds is less than $10 million;
total authorized capital does not exceed $10 million.

Fulfilment of two conditions allows you to change the category of the company. Small businesses (i.e. those that meet the above criteria) are offered a simplified reporting option. This reduces the burden on the owner and affects the amount of profit due to the absence of additional costs.

A quality audit will determine if you can receive such benefits. An accountant maintains the accounts for two years and then will prepare the paperwork for tax abatement.

Financial services industry

Monthly and quarterly reports are categorized as mandatory, so it will be difficult to do without help. However, by seeking the advice of an accountant, it will be possible to obtain the highest level of assurance, comply with current regulations and conduct legal activities.

The choice of services from a wide range of options allows you to hire without significant loss of capital. Working with an outsourced accountant helps to reduce costs due to the absence of monthly fees. Payment is required during the period of preparation and submission of documents to the tax inspector.