Singapore government strives to further improve its corporate laws. In fact, last October 11, 2017, they officially adopted a re-domiciliation policy [Institute of Singapore Chartered Accountants]. This will allow foreign corporate entities to be registered as a Singapore-based company. Therefore, it will enable companies to offer services and conduct transactions with the benefits of being a Singapore-based corporate entity.
But, implementing a new policy requires all business entities to update their accounting and auditing process [ACRA 2018 Regulatory Update]. And, having a corporate service expert with full knowledge about Singapore’s corporate guidelines is an advantage.
So, read on this blog and understand how these team of specialised professionals can help in your corporate accounting
Why Get Accounting and Auditing Solutions
Established corporate service agencies, who understand Singapore corporate laws, can offer advisory solutions regarding company auditing and accounting. They can help you ensure that all the statutory documents are fulfilled on time and correctly. Thus, it can help you prevent from paying late lodgement penalties [Companies Act Section 580].
Moreover, their expertise can guide you on how to streamline your company operations as a foreign business owner operating a Singapore-based company. So, what other benefits in seeking out corporate accounting and auditing advisory solutions from corporate service agencies?
Top 3 Reasons to Seek Corporate Accounting Advisory Solutions
With new regulatory policy being reviewed yearly to improve the corporate landscape, it could be tough to sometimes identify the changes and comply them, if you are not familiar with the business environment.
Having a dedicated team of experts can help you identify company operational issues, strategic corporate solutions, and determine inaccurate financial decisions.
Help You Identify Operational Issues
Corporate service professionals can help you identify which part of your business can be optimised. This can help save resources which can be allocated to other areas of your business.
Offer Strategic Corporate Solutions
Company service advisors understand the current corporate environment in Singapore. They can offer you solutions which may allow you to reach your company milestones as fast as possible.
Make Accurate High-Finance Decisions
The newly implemented law also has new guidelines and different bookkeeping process. Reliable corporate service providers can guide you towards the proper bookkeeping process. This will help you make more precise high-finance decisions for your company.
Addressing your Accounting needs Today!
By creating a competitive business environment, Singapore’s government continues to implement new laws, improving old corporate guidelines and restructuring the accounting and auditing process.
Need some help from local corporate service representative? Contact us now for a free consultation.
References:
Inward Re-domiciliation regime to take effect on 11 October 2017, isca.org.sg
Republic Of Singapore Government Gazette Acts Supplement, acra.gov.sg
ACRA 2018 Regulatory Update (PDF), sid.org.sg
Companies Act (Chapter 50) Companies (Fees and Late Lodgement Penalties) (Amendment) Regulations 2017, acra.gov.sg
