January 23, 2013 by SCS Admin | Permalink
Businesses everywhere often audit their finances and financial records every year. Sometimes, they do so every quarter or every six months. The reasons why such a review is made include the need to reassure stakeholders that what they see in their financial reports is accurate and to find out if there are errors in such reports. Read the rest of this entry »
January 23, 2013 by SCS Admin | Permalink
What exactly is an external audit and does your company need one? External means “outside” and audit means “examination of financial account or records”. To put this simply, an external audit is the examination or scrutiny of financial records or accounts conducted by an outside entity. Read the rest of this entry »
January 23, 2013 by SCS Admin | Permalink
When a person is tasked to audit a company or a person and they are licensed to do so, he or she is called an auditor. An external auditor is someone who audits the financial records of companies and individuals independently. This means that they are a third party that is hired to check on such records with objectivity and without bias since they are not directly associated with the company or person they are auditing.
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January 23, 2013 by SCS Admin | Permalink
When people say that they need an audit firm to help them, what exactly does this mean? What does an audit firm do and why are there quite a number of them in Singapore? Do you need an audit firm? Read the rest of this entry »
April 2, 2012 by scs | Permalink
Auditing is another intricate process included within the scope of accounting but is however, on a different level as well. Audits are more focused on the business transactions made within a particular company. The auditor’s job is to evaluate the reliability of transactions, that they are made properly, without fraud and that significant ratios and figures are calculated correctly. An audit insures that there is no material error and is a tool for internal control.
March 26, 2012 by scs | Permalink
Presently, Accountants need to be acquainted with the new features of automation for their accounting systems. The newest thing as of now would be the constant improvement of automated systems for accounting to accomplish a lot of tasks in the least possible time. As technology paves its way for progress, all systems must have progress as well.
March 19, 2012 by scs | Permalink
Singaporeans are very fortunate compared to a lot of other countries in the world. Not only do they benefit from having high standard of living, they also enjoy a comparatively low Personal Tax rate. In fact, Singapore offers one of the lowest personal income tax rates in the world. The rates vary, though, depending on one’s tax residency. Residents pay a different rate than non-residents. But all eligible tax payers enjoy tax benefits and breaks when applicable.
March 12, 2012 by scs | Permalink
No one enjoys paying taxes. It is necessary, though. Paying taxes is not only our duty, it is also our way of giving back to our country. But somehow it is still difficult to let go of a portion of our hard-earned money. Instead of treating it as a curse of being employed, we can treat it as what it really is: our contribution to make life better for all of us. However, if it still feels like a burden for you, you can practice Tax Planning to minimize your taxes.
February 22, 2012 by scs | Permalink
Not everyone knows how to balance books. Some of us are born to lead, while some are remarkable followers. Some may know how to do everything by themselves, but sometimes, it is more efficient to ask for help. If you have a business to run, then perhaps it is in your and your company’s best interest to have someone else do the other aspects of your business. Have professionals handle your company’s Accountancy concerns so you can concentrate on running your business.
February 15, 2012 by scs | Permalink
There are many reasons why entrepreneurs consider Singapore as the country of their choice for Company Formation. This pro-business Southeast Asian nation attracts companies and businesses in many sectors by implementing laws and procedures that make the country conducive to being profitable. Businesses thrive with the help of the development programs in the country. And because it allows foreign individuals or entities to fully own their company, Singapore also attracts investors from all over the world.
