Unaudited Report — the data a company has to table to the AGM within 6 months of its financial year end. It includes a profit and loss report, balance sheet, compliance notes and director’s report, and statement.
Who can submit unadited reports?
Singapore regulations allow most of SME to submit unaudited reports. These are the conditions that your business has to satisfy to qualify for this simplified procedure:
- 0 corporate shareholders and no more than 20 individual shareholders and
- turnover of S$5 million or less in a year, or
- Dormant company Otherwise you need to appoint an auditor no later than 3 months after the company formation and provide audited accounts on annual basis.
What does unaudited report include?
SME are required to present the following documents to ACRA:
- Profit and Loss shows the company sales, expenses, and profit over a given period of time
- Balance Sheet specifies assets, liabilities, and equity The financial statement may also include:
- Cash Flow statement
- Notes to Financial Statement