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Our approach is proactive, and our audit plan is designed to provide reasonable assurance that the financial statements are not materially misstated and are presented fairly in accordance with applicable accounting standards as well as relevant statutory requirements. Our affiliation with RSM International enables us to participate in multi-country and cross border audit and other assignments.
International Audit Standards
We use auditing techniques developed by RSM International specifically modified for Singapore regulations and requirements. These techniques, which comply with international auditing standards, have been tried and tested internationally.
In brief, we review risk and materiality in each area of the audit so that we focus on those areas most relevant to the substantiation of our eventual audit opinion. This approach ensures that we carry out a timely and efficient audit, avoiding areas which are neither material nor of high risk.
Our audit services include:
Statutory audits
Our approach is of significant benefit because of the value-add it brings to this statutory requirement. At all times, we are mindful of the auditor's key role as the guardian of shareholders' interests.
Special reviews
A special review entails a comprehensive and objective examination of the business underlying the numbers. It assists management to identify and focus on key areas and issues and provides insights and comfort to them as well as to outside interests.
Due diligence for mergers and acquisitions
Whether it is an acquisition, merger, floatation, or fund raising exercise, we are able to carry out all procedures necessary to assist clients in arriving at an informed decision.
Other non-statutory audits
Auditing techniques are equally applicable to a wide range of non-corporate entities such as partnerships, clubs, associations, charitable bodies, and MCSTs.
Regulatory Compliance for Public Interest Entities
In addition to our robust audit methodologies, RSM Singapore adheres strictly to the independence requirements for Public Interest Entities (PIEs) in Singapore. These requirements are applicable to audits of financial statements for entities such as listed companies, those preparing for IPOs, large charities and IPC with annual gross receipts exceeding $10 million in each of the last two financial years, and financial institutions including fund management companies, financial advisers, insurance brokers, trust companies, capital market services licensee, standard payment institution, major payment institution etc.
