Will you allow One IBC to send you notifications?

We will only notify the newest and revelant news to you.

Accounting & Auditing in Singapore

Accounting & Auditing in Singapore

Accounting & Bookkeeping services

Singapore companies
Singapore companies are required to maintain proper bookkeeping records and accounting documents in accordance with the Singapore Financial Reporting Standards (SFRS)
Accounting & Bookkeeping services 2
Our dedicated accounting team will assist in preparing full sets of management accounts through our accounting software system Accounting fee is calculated based on the number of transactions

Financial Statement Compilation Services

Compilation report by a professional firm will ensure all due diligence and fulfill all required technical competence
Companies that are exempt from audit and filing requirement are still required to prepare a full set of financial statements including notes to the accounts and must be accompanied by the Directors’ Statement

XBRL Services

  • XBRL (eXtensible Business Reporting Language) is a reporting format which allows the system to read and analyse relevant financial data
  • Most companies would be required to file their financial statements in XBRL via new BizFinx system
  • We will assist in converting soft-copy financial statements into XBRL format as well as resolving genuine and possible errors detected by BizFinx system
Services fee of Financial Statement Compilation and XBRL Services
from US$ 495

Singapore Auditing Services

ACRA does not require small private companies to submit audited financial statements if they meet two of the three following criteria:
  • Total annual revenue from the past fiscal year is less than S$10 million
  • Total assets from the past fiscal year are less than S$10 million
  • Total employees in the past fiscal year are fewer than 50


1. Do I need to apply for the waiver of Form C-S/ C Submission on a yearly basis, if the company is dormant?

Once a company has been granted a waiver from a specific date, the company will not be issued with Form C-S/ C from that date onwards.

As such, a company whose waiver application had been approved will not need to submit the application form on a yearly basis to IRAS.

2. What is Annual General Meeting (AGM)?

An AGM is a mandatory annual meeting of shareholders. At the AGM, your company will present its financial statements (also known as "accounts") before the shareholders (also known as "members") so that they can raise any queries regarding the financial position of the company.

3. What if I e-Filed the ECI beyond three months after the company’s financial year end?
You can still e-File the ECI if no assessment for the YA has been issued to your company. However, you cannot pay by instalment. Instalments are only granted by IRAS when a company files its ECI within three months after its financial year end and is on GIRO.
4. Is it necessary to file financial reports in Singapore with full XBRL format?

All companies incorporated in Singapore which are either limited or unlimited by shares (except exempted companies) are required to file their full set of financial statements in XBRL format according to the recent guidelines released by ACRA (Accounting and Corporate Regulatory Authority) Singapore June 2013.



5. Do I need to file an ECI for my company if it is nil?

You do not need to file an ECI for your company if it is nil and if your company meets the following annual revenue threshold for the Waiver to File ECI:

Annual revenue not exceeding $5 million for companies with financial years ending in or after Jul 2017.

6. How is XBRL filing useful?

XBRL is an acronym for eXtensible Business Reporting Language. Financial information is converted to XBRL format then, sent to and fro between business entities. Singapore government has mandated it for each Singapore company to file its financial statements only in XBRL format. The analysis of the data, thus, accumulated gives accurate information about the trends in finance.

7. Is income received in the form of virtual currencies such as Bitcoins taxable?
Remuneration or revenue received in the form of virtual currencies (such as Bitcoins) is subject to normal income tax rules. The receipt will be taxable if it is revenue in nature, and non-taxable if it is capital in nature
8. What is the Financial Year End (FYE) of Singapore?

The financial year end (FYE) of Singapore is the end of the fiscal accounting period of a company which is up to 12 months.

9. When AGM is held since the date of incorporation?

Generally, a private limited company is required under the Companies Act (“CA”) to hold its AGM once in every calendar year and not more than 15 months (18 months for a new company from the date of its incorporation).

10. How long Financial statement reports are laid at AGM?

Financial statements no more than 6 months old must be laid at the AGM (section 201 CA) for Private limited companies.


Better services - better price 15% off on company formation fee

October sale is now ON - Get your seasonal packages for Seychelles company formation

One IBC Club

One IBC Club

There are four rank levels of ONE IBC membership. Advance through three elite ranks when you meet qualifying criteria. Enjoy elevated rewards and experiences throughout your journey. Explore the benefits for all levels. Earn and redeem credit points for our services.

Earning points
Earn Credit Points on qualifying purchasing of services. You’ll earn credit Points for every eligible U.S. dollar spent.

Using points
Spend credit points directly for your invoice. 100 credit points = 1 USD.

Partnership & Intermediaries

Partnership & Intermediaries

Referral Program

  • Become our referer in 3 simple steps and earn up to 14% commission on every client you introduce to us.
  • More Refer, More Earning!

Partnership Program

We cover the market with an ever-growing network of business and professional partners that we actively support in terms of professional support, sales, and marketing.

Jurisdiction Update

What the media say about us

About Us

We are always proud of being an experienced Financial and Corporate Services provider in the international market. We provide the best and most competitive value to you as valued customers to transform your goals into a solution with a clear action plan. Our Solution, Your Success.