Audit Exemption for Small Companies - Accounting and - ACRA
Audit Exemption for Small Companies - Accounting and - ACRA
Audit Exemption for Small Companies - Accounting and - ACRA
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Purpose <strong>and</strong> reason <strong>for</strong> a statutory audit (cont’d)<br />
• regulatory requirements; the <strong>Companies</strong> Act, Cap.<br />
50 (“the Act”) requires<br />
– the directors of the company to lay be<strong>for</strong>e the<br />
company at its AGM a duly audited profit <strong>and</strong><br />
loss accounts <strong>and</strong> balance sheet made up to a<br />
date not more than six months be<strong>for</strong>e the date of<br />
the AGM<br />
– an auditor to examine the company’s accounting<br />
records <strong>and</strong> financial statements <strong>and</strong> to obtain all<br />
the in<strong>for</strong>mation <strong>and</strong> explanations needed so as to<br />
enable him to <strong>for</strong>m an opinion<br />
© 2010 Foo Kon Tan Grant Thornton LLP
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