External auditors are independent persons or registered bodies, who inspect companies’ financial and accounting records to express an opinion as to whether the financial statements give a true and fair view of the organisation’s financial position and performance and are free from material misstatement. Getting your financial statements audited by external auditors is important to establish credibility and ensure compliance with relevant laws and regulations.
While you may be satisfied with the quality of your staff and on internal auditors’ reports, it would still be difficult for you to judge their independence and impartiality without engaging a third party as an external auditor. A good quality external audit may save your organisation from contingencies or catastrophic problems like fraud, litigation, non-compliance etc. External audit is not just an obligation or statutory compliance; it is a powerful tool for viewing the current state of an organisation, providing a vision for future aspirations.
Below are some of the few reasons as to why your company needs external auditors:
In Singapore, only a public accounting firm registered with ACRA may act as an external auditor and is responsible for the audit opinion and this responsibility includes ensuring that the audit is conducted in accordance with the Singapore Standards on Auditing (SSAs) and other requirements.
Tan, Chan & Partners is a well-reputed firm of Chartered Accountants from Singapore. We have been in practice since 1982 and provide specialised audit services including statutory audits, lucky draw audits, MCST audit, IPCs audit, Society/Association audit, special purpose audits and so on. Our commitment to providing the best quality assurance services is the reason for what we do. We deliver comprehensive audit and assurance services that are designed to give real value to your company and reinforce investors’ confidence in it.