Audit

  For many small and medium-sized enterprises (SMEs) in Singapore, one of the first questions that comes up when an audit is required is simple: how much does an audit cost in Singapore?

Unlike some professional services with relatively standard pricing, audit fees can vary significantly from one company to another. Two companies with similar annual revenue may receive very different audit quotations because the amount of audit work required depends on much more than turnover alone.

The company’s transaction volume, quality of accounting records, number of bank accounts, inventory, subsidiaries, overseas operations, internal controls and complexity of its financial statements can all affect the amount of work an auditor needs to perform.

This guide explains how audit fees are generally determined in Singapore, what factors can increase the cost of an audit, how SMEs can prepare for an audit more efficiently, and what businesses should consider when choosing an audit firm.

audit