There are many auditing companies that offer the services in Singapore. The most reputable companies in Singapore that offer auditing services always use SAS (Statements on Auditing Standards). The SAS is considered to be the US standard for auditing. In any business entity, the auditing of the accounts is an important factor for the relationship between the business with its shareholders and other related entities.
There are hundreds of audit firms in Singapore, and choosing the best one can be very stressful. To sort this out there are 3 essential factors that must be taken into consideration
1. An Audit Firm with Positive References
One of the best practices to hire services or even employees for auditing purposes is to seek help from friends and colleagues. You can also look for an audit firm that has positive references from respected and high-profile peers in your industry, or even narrow it down even further by engaging with a local director. This should be your first line of inquiry.
2. An Audit Firm that Understands Your Business Needs
An audit firm should be capable of providing timely audit services and should be well versed with the newest technology. The firms should also provide ongoing training on the latest concepts that are applicable to your business. The compliance level of your business, as well as the risk profile, should be properly audited by the firm so that the service providers develop a good understanding of the various audit requirements within your business.
3. The Audit Firm has Industry-Specific Past Experiences
Some audit firms in Singapore are industry-specific, with experience in for example artificial intelligence, biotechnology, etc. Just make sure that the audit director or the auditing firm is recognized by ISCA. This will ensure that the person in charge of the audit has the necessary experience and knowledge in your specific industry. If the director or auditing firm does not have an ISCA certification, then make sure that they are still considered as one of the best audit firms.
The audit department should have an ISCA certification or at least be considered one of the best audit firms in Singapore. Finding a suitable audit firm that fits the above requirements should be your ultimate goal. As a business owner, you may overlook some details in your auditing process, but an audit firm like International Standards Audit Corporation will make sure that all the details are checked and double-checked. The company may also have company incorporation service and do check them out if needed the service.