How to Determine Whether an Auditing Firm is Right for You

Due to immense movement in exports and imports, Singapore is home to many local and international audit firms. One important aspect of owning a business in Singapore is that you may choose from any of these local firms to help you with auditing and make the finance department painless and streamlined.

1. Past Projects / Clients Portfolio

While it may be a good idea to hire any Singapore audit firm for your business, it is essential to see that they have a good track record of providing auditing services. This way you can be certain that they are experienced individuals who will adequately address all your needs. Apart from audit firms, you can also narrow down your options based on local directors.

The small audit firm or individual you have selected will assist you with both financial statement audits and other auditing services like special audits to help you prevent any mishandling of finances in the office.

2. Which Audit Services is the Firm Offering

The audit firm you choose should be able to offer a range of audit services to help you. You will want to go through their portfolio and find out what other kinds of financial functions they offer. You may even want to hire a company that will be able to help you with more than one kind of audit, saving you money and streamlining your day-to-day management. Also make sure that the local director they assign to you is well experienced in industry that your firm belongs to.

Some types of audits you may want to consider are:

  • External audits
  • Internal audits
  • Statutory audits
  • Quality control audits
  • Client audits
  • Insolvency audits
  • Compliance audits

You should have a clear idea of what kind of audit you want and look at the portfolio of the Singapore audit firm you have initially selected. You will want to be certain as to which one you want and whether or not they are able to help you with it. You should also make sure that you have made the most informed decision possible for you and your business.

3. Look for Well-Established firms only

It is always a good idea to hire a Singapore auditing firm that has been around for a while. This way you can be certain that they have a great track record and have handled many issues throughout the past. Some of them also offers company incorporation service. The audit firm you have selected should have ample experience in Singapore and be able to effectively handle any problems that you have.

Leave a comment

Your email address will not be published. Required fields are marked *