365 Credit Solutions Pte Ltd is a licensed moneylender (License No. 17/2024) listed in the Registry of Moneylenders, under the Ministry of Law in Singapore.​

365 credit solutions logo

5 Biggest Auditing Firms in Singapore (2024)

auditing firms in singapore

Auditing firms in Singapore play a crucial role in maintaining financial transparency and ensuring compliance with regulatory requirements. As a business owner, selecting the right auditing firm is essential to managing your company’s finances effectively. The auditing landscape in Singapore comprises local and international firms, with some being part of prestigious global networks like the Big Four, which include PwC, EY, KPMG, and Deloitte.

In the midst of global economic uncertainties, managing cash flow effectively becomes more important than ever. “An increasing number of companies are facing a cash crunch and must manage their liquidity and income flow better in the light of heightened global uncertainties and inflationary pressures,” said accounting giant Deloitte

In Singapore, where the confluence of local and global financial dynamics is evident, selecting the right auditing firm is a pivotal step towards navigating the intricate financial landscape, making informed business decisions, and ultimately achieving a robust financial footing in an uncertain global economic milieu.

Key Services Offered by Auditing Firms

Auditing firms in Singapore provide a wide range of services to cater to the diverse needs of businesses operating in various sectors. As a business owner, it is essential for you to understand the key services offered by these firms to ensure accurate financial statements, build investor trust, and support economic growth.

  • Assurance Service: This includes the process of examining and verifying your company’s financial statements to ensure their accuracy and compliance with accounting standards, regulations, and laws. They evaluate the efficiency of your company’s internal controls, risk management systems, and overall governance.
  • Tax advisory and Compliance: They assist you in optimizing your tax strategies, identifying potential tax exposures, and ensuring compliance with the ever-changing tax regulations in Singapore. This ensures that your business stays compliant with tax obligations and avoids any potential penalties from the tax authorities.
  • Bookkeeping and Accounting: Auditing and accounting firms help you maintain proper financial records, generate accurate and timely financial reports, and ensure the smooth functioning of your company’s daily operations. By outsourcing these tasks to a professional auditing firm, you can focus on your core business activities and make informed decisions based on accurate financial information.
  • Financial Advisory and Consulting Services: They provide valuable insights and guidance on various aspects of your business, such as mergers and acquisitions, business restructuring, performance improvement, and risk management. Their expert advice can help you strategize and implement effective plans to achieve your business goals.
  • Forensic Accounting and Fraud Investigation: If you suspect any fraudulent activities or financial irregularities within your company, these experts can thoroughly investigate the matter and help you uncover the truth, ensuring the integrity of your business operations and financial reporting.

Factors to Consider When Choosing an Auditing Firm

When looking for an auditing firm in Singapore, it’s crucial to consider several factors to find the most suitable one for your business needs.

  • Experience and expertise: Select an auditing firm that has extensive experience in your industry. A firm with relevant expertise can better understand your business requirements and provide tailored solutions. 
  • Reputation: Look for an audit firm with positive references from previous clients. Such firms are more likely to provide high-quality services and uphold the reputation they’ve built.
  • Size and resources: Consider whether the auditing firm has the necessary resources to handle your business. Larger firms may have more resources, but smaller ones can offer more personalized services. Assess your business’s needs and choose an auditing firm accordingly.
  • Fees and transparency: It is important to know the cost structure of different auditing firms in order to make a budget-conscious decision. Make sure the firm is transparent about its pricing and that there are no hidden fees.
  • Range of services: Some auditing firms offer a comprehensive range of services, such as auditing, tax planning, and financial management. Choose an auditing firm that provides all the services your business requires, as it can be more efficient and cost-effective.

Top 5 Largest Auditing Firms in Singapore

1. KPMG Singapore

kpmg singapore logo

KPMG Singapore is a leading auditing firm in the region, recognized for its high-quality services and commitment to trust and transparency. As a member of KPMG International, a global network of independent professional services firms, KPMG Singapore upholds a reputation for excellence in the industry.

To stay ahead of the curve, KPMG Singapore continually invests in innovation, allowing them to deliver efficient and valuable services to clients. This focus on innovation is one of the key factors contributing to the firm’s leading position in the market.

Services:

  • Audit: KPMG Singapore’s Audit services encompass independent financial statement audits, which inspire trust in data and financial information. 
  • Tax: The firm’s tax services cover both domestic and international tax requirements, providing strategic advice and guidance to help clients navigate complex tax regulations and optimize their tax positions.
  • Advisory: KPMG Singapore’s advisory services cover a broad spectrum, including risk management, compliance, mergers and acquisitions, financial management, corporate advisory, deal advisory, and sustainability.

Contact Info:

2. PwC Singapore

pwc singapore logo

PwC Singapore is a prominent auditing and professional services firm in the country. The firm’s strong reputation and standing in the global market as a part of the PwC network make it the top choice for many companies seeking assurance and advisory services. 

PwC Singapore collaborates with organizations to enhance their corporate reporting and support compliance with regulatory requirements and contractual agreements. Their commitment to providing the highest quality service sets them apart as the number 1 auditing firm in Singapore.

Services:

  • Financial Statement Audits: PwC ensures that your company’s financial statements are in compliance with regulatory requirements, increasing the trust of investors and stakeholders in your company’s reporting.
  • Internal Audit Services: This auditing firm assists you in strengthening your internal audit function to build trust among key stakeholders and transform your organization’s risk management processes.
  • Tax Advisory: PwC Singapore’s tax professionals provide tailored solutions to help you navigate the complexities of tax compliance and planning.
  • Consulting Services: Their team of experts can help improve your business strategy, operations, technology, and human capital for long-term success.

Contact Info:

3. EY Singapore

ey singapore logo

EY Singapore is a top-tier audit firm, dedicated to maintaining high standards of audit quality and professionalism. As a member of EY Global, one of the largest professional services networks in the world, EY Singapore consistently ranks among the top audit firms in the country. 

EY Singapore offers a wide range of audit and assurance services to a diverse client base, including multinational corporations, public-listed entities, and financial institutions. The firm’s top chartered accountants, commitment to continuous improvement, and use of advanced technologies ensure that they stay at the forefront of the industry. 

Services:

  • Audit and Assurance Services: EY Singapore’s core service offering, includes statutory audits, regulatory compliance, and risk consulting services. 
  • EY Digital Audit: Their EY Digital Audit approach improves efficiency, enhances risk assessment, and drives deeper insights for their clients.
  • Internal Audit Services: EY Singapore’s internal audit services help clients assess the effectiveness of their internal controls, risk management processes, and corporate governance practices. 
  • Forensic Accounting and Fraud Investigation: EY Singapore’s forensic accounting services help clients prevent and detect financial fraud, mismanagement, and other irregularities.

Contact Info:

4. Deloitte & Touche Singapore

deloitte singapore

Deloitte & Touche Singapore is a leading professional services firm providing audit, consulting, tax, financial, and risk advisory services in the region. With a strong reputation for excellence, integrity, and innovation, Deloitte Singapore has quickly become the top business consulting firm for national and multinational clients seeking world-class services.

Services:

  • Audit & Assurance: Through comprehensive audit and assurance services, Deloitte can help you maintain trust in your financial reporting and internal control systems.
  • Consulting: Deloitte consultants work with you to develop innovative business strategies and provide assistance in areas such as technology implementation, human capital, and operations.
  • Tax: As a global leader in tax services, Deloitte Singapore provides a broad range of tax solutions, helping you meet your compliance obligations while also identifying opportunities for growth and cost reduction.
  • Financial Advisory: Deloitte’s skilled financial advisors can assist you in identifying and managing risks, conducting due diligence investigations, and providing valuation services.
  • Risk Advisory: To help you manage risks more efficiently, Deloitte offers a variety of services such as internal audit, technology and data risk management, and regulatory compliance.

Contact Info:

5. RSM Singapore

RSM Singapore logo

RSM Singapore stands out as the largest professional services firm outside the Big Four in Singapore and ranks as the sixth largest globally. Their strong presence in the market and exceptional quality of services contribute to them being a top choice for businesses seeking audit, tax, and advisory services. With a commitment to excellence and a focus on the needs of their clients, RSM Singapore has earned its position as a leading firm in the industry.

Services:

  • Audit & Assurance: RSM Singapore delivers thorough and independent audit services to ensure that your business complies with financial reporting standards and provides stakeholders with reliable financial information.
  • Tax: Their team of tax professionals provides expert advice and assistance in navigating complex tax regulations, helping you optimize your tax position and remain compliant with local and international tax laws.
  • Corporate & Risk Advisory: Utilizing their extensive experience and knowledge, RSM Singapore offers bespoke corporate and risk advisory solutions, tailored to address your business’s unique challenges and support its growth and success.
  • Business Support Services: They offer a wide range of business support services, including accounting, payroll, and secretarial solutions, to help streamline your business operations and improve efficiency.

Contact Info:

Final Word

Auditing firms in Singapore play a crucial role in maintaining the integrity of businesses and financial transactions within this global commercial hub. They adhere to Singapore Standards on Auditing and offer various services such as forensic auditing and cyber risk management.

Key Takeaways

  • Singapore, being a major financial center, offers vast opportunities for businesses and attracts entrepreneurs worldwide.
  • Notable auditing firms in the country include KPMG, PwC, EY (Ernst and Young), and Deloitte.
  • Auditing in Singapore adheres to strict standards and regulations, ensuring all companies maintain high levels of transparency and accountability.

Reach your goals faster with the right financial assistance. 365 Credit offers the best business loan in Singapore at affordable rates and flexible repayments. Guaranteed fast and hassle-free loan applications. Request a quote today!

Related Posts

best personal loan

Best Personal Loans in Singapore (2024)

100g Fine Gole

UOB Gold Prices in Singapore: A Comprehensive Guide (2024 Update)

best car insurance singapore

10 Best Car Insurance Plans in Singapore (2024): A Complete Guide

hdb kitchen renovation

Kitchen Renovation in Singapore: A Comprehensive Guide 2024

Similar Posts

Recent trends in Singapore indicate a shift towards more...

In today’s fluctuating economy, gold remains a reliable investment,...

Getting car insurance is vital for every car owner...

Ready to Apply?

Fill out this form and we will get back to you within 3 working hours

× WhatsApp Us