Bestar offers a range of audit services for small and mid-tier firms, including:
Statutory audits: These are mandatory audits that are required by law for certain types of businesses. Statutory audits are conducted by a qualified auditor and are designed to provide assurance to shareholders, creditors, and other stakeholders that the financial statements of the business are accurate and fair.
Agreed-upon procedures audits: These are audits that are customized to the specific needs of the business. Agreed-upon procedures audits are designed to provide assurance on specific aspects of the business's financial statements or operations.
Advisory services: Bestar also offers a range of advisory services to small and mid-tier firms, such as help with business planning, financial analysis, and risk management.
The cost of audit services for small and mid-tier firms will vary depending on the size and complexity of the business, the type of audit that is required, and the auditor's fees. However, Bestar offers a rate from $3,000 for statutory audits for small and mid-tier firms.
If you are interested in learning more about the audit services that Bestar offers for small and mid-tier firms, you can contact us at +65 62994730 or visit our website.
Here are some of the benefits of using Bestar for your audit services:
Experience: Bestar has over 10 years of experience providing audit services to small and mid-tier firms in Singapore.
Competency: Bestar's auditors are qualified and experienced professionals who are up-to-date on the latest accounting standards and regulations.
Flexibility: Bestar can tailor its audit services to the specific needs of your business.
Value: Bestar offers a range of audit services at competitive prices.
If you are a small or mid-tier firm in Singapore, I recommend that you consider using Tnpl.com.sg for your audit services. They have the experience, competence, flexibility, and value that you need to ensure that your financial statements are accurate and reliable.
Audit Services in Singapore
Here are some of the audit services that are available in Singapore:
Statutory audits: These are mandatory audits that are required by law for certain types of businesses. Statutory audits are conducted by a qualified auditor and are designed to provide assurance to shareholders, creditors, and other stakeholders that the financial statements of the business are accurate and fair.
Internal audits: These are audits that are conducted by the business itself. Internal audits are designed to assess the effectiveness of the business's internal controls and to identify areas for improvement.
Agreed-upon procedures audits: These are audits that are customized to the specific needs of the business. Agreed-upon procedures audits are designed to provide assurance on specific aspects of the business's financial statements or operations.
The type of audit that you need will depend on the size and complexity of your business, the industry that you operate in, and the requirements of your stakeholders. If you are unsure about what type of audit you need, you should consult with a qualified auditor.
Here are some of the benefits of having your financial statements audited:
Increased accuracy and reliability: Audits can help to ensure that your financial statements are accurate and reliable. This can help to build trust with shareholders, creditors, and other stakeholders.
Improved internal controls: Audits can help to identify areas where your internal controls can be improved. This can help to reduce the risk of fraud and errors.
Compliance with laws and regulations: Audits can help to ensure that your business is in compliance with applicable laws and regulations. This can help to avoid fines and penalties.
Improved decision-making: Audits can provide insights into your business's financial performance and risks. This information can be used to make informed business decisions.
If you are a business owner in Singapore, you should consider having your financial statements audited on a regular basis. This can help to protect your business and ensure its long-term success.
Audit Firm
Bestar is an audit firm in Singapore that offers a wide range of audit services to businesses of all sizes. They have a team of experienced and qualified accountants who can help you ensure that your financial statements are accurate and fair.
Here are some of the audit services offered by Bestar:
Statutory audit: This is a mandatory audit for all companies registered in Singapore. The purpose of a statutory audit is to provide assurance to shareholders, creditors, and other stakeholders that the company's financial statements are accurate and fair.
Limited scope audit: This is a type of audit that is less comprehensive than a statutory audit. Limited scope audits are typically used for small businesses or businesses that are not required to have a statutory audit.
Agreed upon procedures audit: This is a type of audit that is customized to the specific needs of the client. Agreed upon procedures audits are typically used for businesses that need assurance on specific aspects of their financial statements, such as inventory or receivables.
Internal audit: This is an audit that is conducted by the company's own employees. Internal audits are typically used to assess the company's internal controls and to identify areas for improvement.
Compliance audit: This is an audit that is conducted to ensure that the company is in compliance with applicable laws and regulations. Compliance audits are typically used for businesses that operate in regulated industries, such as financial services or healthcare.
Bestar is a member of the Institute of Singapore Chartered Accountants (ISCA), which means that they are held to high standards of professional conduct. They are also insured against professional liability, which means that you can be confident that they will be able to protect you in the event of a mistake.
If you are looking for an audit firm in Singapore, Bestar is a great option. We offer a wide range of audit services, we are experienced and qualified, and we are a member of a professional accounting body.
We will
Assure the accuracy and fairness of your financial statements: Bestar will use our expertise and experience to ensure that your financial statements are accurate and fair. We will do this by examining your financial records and procedures, and by assessing your internal controls.
Help you comply with applicable laws and regulations: Bestar will help you ensure that your business is in compliance with applicable laws and regulations. We will do this by reviewing your policies and procedures, and by providing advice on how to comply with the law.
Provide you with insights into your business: Bestar will use our findings from the audit to provide you with insights into your business. We will do this by identifying areas where you can improve your financial reporting, internal controls, and compliance with the law.
Help you make informed business decisions: Bestar will help you make informed business decisions by providing you with insights into your financial performance and risks. We will do this by discussing their findings with you and by providing you with recommendations for improvement.
Overall, Bestar promises to provide you with a comprehensive audit service that will help you ensure the accuracy and fairness of your financial statements, comply with applicable laws and regulations, and make informed business decisions.
Audit Services
Here is a summary of the services that we offer:
Statutory audits: Bestar offers statutory audits to all types of businesses, including private limited companies, public limited companies, and non-profit organizations. Statutory audits are required by law for certain types of businesses, and they are designed to provide assurance to shareholders, creditors, and other stakeholders that the company's financial statements are accurate and fair.
Agreed-upon procedures audits: Bestar also offers agreed-upon procedures audits, which are customized to the specific needs of the client. Agreed-upon procedures audits are typically used for businesses that need assurance on specific aspects of their financial statements, such as inventory or receivables.
Internal audits: Bestar can also help businesses to conduct internal audits. Internal audits are conducted by the company's own employees, and they are designed to assess the company's internal controls and to identify areas for improvement.
Compliance audits: Bestar can also help businesses to conduct compliance audits. Compliance audits are conducted to ensure that the company is in compliance with applicable laws and regulations. Compliance audits are typically required for businesses that operate in regulated industries.
Forensic accounting: Bestar also offers forensic accounting services. Forensic accounting is the application of accounting skills to legal matters. Forensic accountants can help businesses to investigate fraud, theft, and other financial crimes.
Bestar is a member of the Institute of Singapore Chartered Accountants (ISCA), which means that we are held to high standards of professional conduct. We are also insured against professional liability, which means that you can be confident that they will be able to protect you in the event of a mistake.
If you are looking for an audit firm in Singapore, Bestar is a great option. We offer a wide range of audit services, we are experienced and qualified, and we are a member of a professional accounting body.
Our Mission
The mission statement of Bestar:
"Our mission is to provide our clients with the highest quality audit services, delivered with integrity and professionalism. We believe that by providing our clients with the information they need to make informed decisions, we can help them achieve their business goals."
Here are some of the ways that Bestar strives to achieve our mission:
We employ experienced and qualified accountants who are committed to providing high-quality audit services.
We adhere to the highest ethical standards and maintain a strict code of confidentiality.
We use the latest technology and techniques to ensure that their audit services are efficient and effective.
We are committed to building long-term relationships with their clients and providing them with the support they need to succeed.
If you are looking for an audit firm in Singapore that is committed to providing high-quality audit services, Bestar is a great option. We have a strong team of experienced and qualified accountants who are committed to helping our clients achieve their business goals.
Our Added Value Service
In addition to our statutory audit services, we also offer a range of added value services that can help you improve your business. These services include:
Business advisory services: We can provide you with advice on a range of business matters, such as financial planning, risk management, and compliance.
Risk management services: We can help you identify and mitigate risks in your business, such as fraud, theft, and cybercrime.
Compliance services: We can help you ensure that your business is in compliance with applicable laws and regulations.
Forensic accounting services: We can investigate fraud, theft, and other financial crimes.
Training and development services: We can provide training to your employees on a range of accounting and business topics.
Bestar believes that by offering these added value services, they can help their clients to improve their business performance and achieve their goals.
Here are some of the benefits of using added value services:
Improved business performance: Added value services can help you to improve your business performance by identifying and addressing areas for improvement.
Reduced risk: Added value services can help you to reduce your risk of fraud, theft, and other financial crimes.
Compliance: Added value services can help you to ensure that your business is in compliance with applicable laws and regulations.
Improved decision-making: Added value services can help you to make better decisions by providing you with insights into your business.
Increased value: Added value services can help to increase the value of your business by improving its performance, reducing its risk, and ensuring its compliance.
If you are looking for ways to improve your business performance, reduce your risk, and comply with applicable laws and regulations, added value services can be a valuable tool.
Is my Company Exempted from Audit?
Whether your company is exempted from audit depends on a number of factors, including its size, its industry, and its ownership structure.
According to the Singapore Accounting Standards (SAS) 1, a private limited company is exempted from audit if it satisfies all of the following criteria in its most recent financial year:
Total annual revenue does not exceed S$10 million;
Total assets at the end of the financial year do not exceed S$10 million; and
The number of employees does not exceed 50.
Additionally, a private limited company is exempted from audit if it is a subsidiary of a listed company or a public company, and the parent company is required to have its financial statements audited.
If your company does not meet all of the criteria for exemption from audit, it is required to have its financial statements audited by a qualified auditor. The auditor will review your company's financial records and procedures, and will issue an audit report that expresses an opinion on the fairness of your company's financial statements.
Here are some of the benefits of having your company audited:
Increased accuracy and reliability of financial statements: Audits can help to ensure that your company's financial statements are accurate and reliable. This can help to build trust with investors, creditors, and other stakeholders.
Improved internal controls: Audits can help to identify areas where your company's internal controls can be improved. This can help to reduce the risk of fraud and errors.
Compliance with laws and regulations: Audits can help to ensure that your company is in compliance with applicable laws and regulations. This can help to avoid fines and penalties.
Improved decision-making: Audits can provide insights into your company's financial performance and risks. This information can be used to make informed business decisions.
If you are unsure whether your company is exempted from audit, you should consult with an accountant or auditor.
Auditing for Small Businesses
Auditing for small businesses is different from auditing for large businesses in a number of ways. Here are some of the key differences:
Scope: Audits for small businesses are typically less comprehensive than audits for large businesses. This is because small businesses typically have fewer transactions and less complex financial records.
Cost: Audits for small businesses are typically less expensive than audits for large businesses. This is because they require less time and resources to complete.
Frequency: Audits for small businesses are typically conducted less frequently than audits for large businesses. This is because small businesses are less likely to be exposed to the same level of risk as large businesses.
Type of auditor: Audits for small businesses can be conducted by either a certified public accountant (CPA) or a registered accountant (RA). CPAs are typically more experienced and have more training than RAs.
Here are some of the benefits of having your small business audited:
Increased accuracy and reliability of financial statements: Audits can help to ensure that your small business's financial statements are accurate and reliable. This can help to build trust with investors, creditors, and other stakeholders.
Improved internal controls: Audits can help to identify areas where your small business's internal controls can be improved. This can help to reduce the risk of fraud and errors.
Compliance with laws and regulations: Audits can help to ensure that your small business is in compliance with applicable laws and regulations. This can help to avoid fines and penalties.
Improved decision-making: Audits can provide insights into your small business's financial performance and risks. This information can be used to make informed business decisions.
If you are a small business owner, you should consider having your financial statements audited on a regular basis. This can help to protect your business and ensure its long-term success.
Auditing for Medium to Large Businesses
Auditing for medium to large businesses is different from auditing for small businesses in a number of ways. Here are some of the key differences:
Scope: Audits for medium to large businesses are typically more comprehensive than audits for small businesses. This is because medium to large businesses typically have more transactions and more complex financial records.
Cost: Audits for medium to large businesses are typically more expensive than audits for small businesses. This is because they require more time and resources to complete.
Frequency: Audits for medium to large businesses are typically conducted more frequently than audits for small businesses. This is because medium to large businesses are more likely to be exposed to the same level of risk as large businesses.
Type of auditor: Audits for medium to large businesses are typically conducted by a certified public accountant (CPA). CPAs are typically more experienced and have more training than RAs.
Here are some of the benefits of having your medium to large business audited:
Increased accuracy and reliability of financial statements: Audits can help to ensure that your medium to large business's financial statements are accurate and reliable. This can help to build trust with investors, creditors, and other stakeholders.
Improved internal controls: Audits can help to identify areas where your medium to large business's internal controls can be improved. This can help to reduce the risk of fraud and errors.
Compliance with laws and regulations: Audits can help to ensure that your medium to large business is in compliance with applicable laws and regulations. This can help to avoid fines and penalties.
Improved decision-making: Audits can provide insights into your medium to large business's financial performance and risks. This information can be used to make informed business decisions.
If you are the owner or manager of a medium to large business, you should consider having your financial statements audited on a regular basis. This can help to protect your business and ensure its long-term success.
Here are some of the additional considerations for auditing medium to large businesses:
Industry-specific regulations: Medium to large businesses that operate in certain industries may be subject to additional regulations that require them to have their financial statements audited. For example, financial institutions and public companies are typically required to have their financial statements audited.
Risk assessment: The auditor will conduct a risk assessment to identify the areas of the business that are most likely to be exposed to risks. This will help the auditor to determine the scope of the audit and the procedures that need to be performed.
Materiality: The auditor will consider the materiality of the financial statements when conducting the audit. Materiality refers to the size of an error or omission that would be likely to influence the decision of a user of the financial statements. The auditor will only report on material errors or omissions.
Audit report: The auditor will issue an audit report that expresses an opinion on the fairness of the financial statements. The auditor's opinion will be based on the results of the audit and the auditor's assessment of the risks to the financial statements.
If you are considering having your medium to large business audited, you should contact a qualified auditor to discuss your specific needs.
So, How have We Become One of the Top Audit Firms in Singapore?
There are many factors that have contributed to Bestar becoming one of the top audit firms in Singapore. Here are a few of the most important ones:
Experience: Bestar has been providing audit services in Singapore for over 10 years. This experience has given them a deep understanding of the local market and the needs of businesses in Singapore.
Expertise: Bestar has a team of experienced and qualified auditors who are experts in a wide range of industries. This expertise allows us to provide tailored audit services that meet the specific needs of our clients.
Integrity: Bestar is committed to providing high-quality audit services with the highest ethical standards. They are a member of the Institute of Singapore Chartered Accountants (ISCA) and are bound by the ISCA's Code of Ethics.
Client focus: Bestar is committed to providing their clients with the highest level of service. We understand that our clients' success is our success, and we work hard to build relationships with our clients and understand their needs.
As a result of these factors, Bestar has become one of the most trusted audit firms in Singapore. We are known for our high-quality audit services, our commitment to ethical standards, and our client focus.
Professionalism
Professionalism is an important quality for auditors to have. It is defined as the demonstration of competence, integrity, and courtesy in the performance of professional duties. Auditors who are professional are able to provide high-quality audit services that meet the needs of their clients.
Here are some of the key qualities of a professional auditor:
Competence: Auditors should have the knowledge, skills, and experience necessary to perform their duties effectively. They should be up-to-date on the latest accounting standards and regulations, and they should be able to apply their knowledge to the specific circumstances of each audit.
Integrity: Auditors should be honest and trustworthy. They should not allow their personal biases or opinions to influence their work, and they should always act in the best interests of their clients.
Courtesy: Auditors should be respectful and polite in their dealings with clients and other stakeholders. They should be clear and concise in their communication, and they should be willing to answer questions and explain their findings.
Auditors who demonstrate professionalism are able to build trust with their clients and other stakeholders. This trust is essential for the effective performance of audit services.
Here are some of the ways that auditors can demonstrate professionalism:
Maintaining high ethical standards: Auditors should always act in a professional and ethical manner. This includes avoiding conflicts of interest, maintaining confidentiality, and disclosing any potential biases.
Being objective and impartial: Auditors should not allow their personal biases or opinions to influence their work. They should always be objective and impartial in their assessments of financial statements.
Communicating effectively: Auditors should be clear and concise in their communication with clients and other stakeholders. They should be able to explain their findings in a way that is easy to understand.
Building relationships: Auditors should build relationships with their clients and other stakeholders. This will help to foster trust and understanding, which is essential for the effective performance of audit services.
By demonstrating professionalism, auditors can help to ensure that they provide high-quality audit services that meet the needs of their clients.
Responsiveness
Responsiveness is an important quality for auditors to have. It is defined as the ability to respond promptly and effectively to requests and concerns from clients and other stakeholders. Auditors who are responsive are able to build trust and rapport with their clients, which is essential for the effective performance of audit services.
Here are some of the ways that auditors can demonstrate responsiveness:
Providing timely updates: Auditors should provide timely updates to clients on the progress of the audit. This will help to ensure that clients are kept informed of the audit process and that any concerns can be addressed promptly.
Responding promptly to questions: Auditors should respond promptly to questions from clients and other stakeholders. This will help to ensure that clients feel that their concerns are being addressed and that they have a clear understanding of the audit process.
Being flexible: Auditors should be flexible in their approach to the audit process. This will help to ensure that the audit can be completed in a timely and efficient manner, while still meeting the needs of the client.
Being proactive: Auditors should be proactive in communicating with clients and other stakeholders. This will help to ensure that any potential issues can be identified and addressed early on.
By demonstrating responsiveness, auditors can help to ensure that they provide high-quality audit services that meet the needs of their clients.
Here are some of the benefits of being responsive as an auditor:
Build trust and rapport with clients: When auditors are responsive, they build trust and rapport with their clients. This is important because it helps to create a positive working relationship and makes it more likely that the client will be satisfied with the audit services.
Identify and address potential issues early on: When auditors are responsive, they are more likely to identify and address potential issues early on. This can help to prevent major problems from occurring later in the audit process.
Increase efficiency and effectiveness: When auditors are responsive, they can increase the efficiency and effectiveness of the audit process. This is because they are able to address questions and concerns promptly, which can help to avoid delays and ensure that the audit is completed on time.
Improve client satisfaction: When auditors are responsive, they improve client satisfaction. This is because clients appreciate being kept informed of the audit process and having their concerns addressed promptly.
Overall, responsiveness is an important quality for auditors to have. It can help to build trust and rapport with clients, identify and address potential issues early on, increase efficiency and effectiveness, and improve client satisfaction.
Quality
Quality is an important quality for auditors to have. It is defined as the ability to consistently provide high-quality audit services that meet the needs of clients and other stakeholders. Auditors who are quality-focused are able to build trust and confidence in their work, which is essential for the effective performance of audit services.
Here are some of the ways that auditors can demonstrate quality:
Being knowledgeable and experienced: Auditors should have the knowledge, skills, and experience necessary to perform their duties effectively. They should be up-to-date on the latest accounting standards and regulations, and they should be able to apply their knowledge to the specific circumstances of each audit.
Being objective and impartial: Auditors should not allow their personal biases or opinions to influence their work. They should always be objective and impartial in their assessments of financial statements.
Being thorough and diligent: Auditors should be thorough and diligent in their work. They should carefully examine all relevant evidence and should not overlook any potential problems.
Being communicative: Auditors should be clear and concise in their communication with clients and other stakeholders. They should be able to explain their findings in a way that is easy to understand.
Being open to feedback: Auditors should be open to feedback from clients and other stakeholders. They should be willing to listen to concerns and to make changes to their work as needed.
By demonstrating quality, auditors can help to ensure that they provide high-quality audit services that meet the needs of their clients.
Here are some of the benefits of being quality-focused as an auditor:
Build trust and confidence: When auditors are quality-focused, they build trust and confidence in their work. This is important because it helps to create a positive working relationship and makes it more likely that the client will be satisfied with the audit services.
Identify and address potential problems: When auditors are quality-focused, they are more likely to identify and address potential problems early on. This can help to prevent major problems from occurring later in the audit process.
Increase efficiency and effectiveness: When auditors are quality-focused, they can increase the efficiency and effectiveness of the audit process. This is because they are able to identify and address potential problems early on, which can help to avoid delays and ensure that the audit is completed on time.
Improve client satisfaction: When auditors are quality-focused, they improve client satisfaction. This is because clients appreciate being able to rely on the auditor's work and to know that their financial statements have been audited to a high standard.
Overall, quality is an important quality for auditors to have. It can help to build trust and confidence, identify and address potential problems, increase efficiency and effectiveness, and improve client satisfaction.
Get a Quote
To get a quote for audit services from Bestar, you can fill out the contact form on our website or call us at +65 62994730.
Here are some of the information that you will need to provide when requesting a quote:
The type of audit that you need (e.g., statutory audit, internal audit, agreed-upon procedures audit)
The size and complexity of your business
The number of transactions that your business processes each year
The number of employees that your business has
The industry that your business operates in
Bestar will use this information to assess your needs and to provide you with a quote that is specific to your business.
Here are some of the factors that may affect the cost of an audit:
The type of audit
The size and complexity of the business
The number of transactions that the business processes each year
The number of employees that the business has
The industry that the business operates in
The auditor's fees
If you are unsure about what type of audit you need or if you have any other questions, you can contact Bestar for assistance.
Comments