Auditing
The Importance of External Auditors for Your Organisation
External auditors are independent individuals or registered firms appointed to examine a company’s financial and accounting records. Their role is to express an objective opinion on whether the financial statements present a true and fair view of the organisation’s financial position and performance, and whether they are free from material misstatements. Engaging an external auditor enhances credibility and ensures compliance with applicable laws and regulatory requirements.
Why Your Organisation Needs an External Auditor
- External auditors identify areas where accounting records may not comply with regulatory requirements, including those set by ACRA and tax authorities.
- Audited financial statements carry greater credibility and assurance of fair presentation for stakeholders.
- External audits provide a common and reliable basis for shareholders, investors, lenders, and regulators to assess financial health and going-concern status.
- Auditors provide reasonable assurance that financial statements are free from material misstatements arising from fraud or error, helping management strengthen fraud prevention measures.
- External auditors assess the appropriateness of accounting policies, estimates, and disclosures, supporting sound financial reporting.
- They review internal controls and processes, identifying opportunities for improvement, automation, and efficiency.
- In Singapore, only ACRA-registered public accounting firms may act as external auditors, conducting audits in accordance with Singapore Standards on Auditing (SSAs).
- Company Statutory Audit
- MCST & Maintenance Fund Audit
- Non-Profit Organisation Audit
- Charity & Institution of a Public Character (IPC) Audit
- Certification Audit
- Agreed-Upon Procedures Engagements
- Assurance Engagements & Compliance Reports
- Internal Audit Services
- Other Specialised Audit Services