Accounting & Compliance Services

The only difference between our complete and standard annual compliance packages is who (us, or you?) will be doing your bookkeeping?

In our complete package, we’ll help with your bookkeeping. For example, in monthly accounting, we’ll do the data entry, bank reconciliation, prepare your ledgers, and monthly financial statements. In other words, we do everything.

On the other hand, when you select the standard package – you’ll have to do your own bookkeeping, and provide us with the company’s management accounts instead. Management accounts are statements such as the Profit and Loss and Balance Sheet.

The management accounts are the cornerstone set of documents that would help us with computing your taxes, compilation of unaudited report and filing your annual returns.

The employee within the Company, the director himself, or an in-house accountant. Otherwise you may engage service providers like Leftright Corporate who expertise in these services for your company.

In Singapore, accounting standards are known as Singapore Financial Reporting Standards (SFRS) and are based on the International Financial Reporting Standards (IFRS).  All companies with financial period starting on or after 1 January 2003 have to comply with SFRS.

Singapore Financial Reporting Standard (SFRS) for Small Entities was introduced in November 2010.

The SFRS for Small Entities is an alternative framework to the full SFRS for eligible entities in Singapore. 

Your compiled financial statement report is exempted from audit only if you are a dormant or Exempt Private Company that meets 2 of the following 3 criteria:

1. Total annual revenue less than SGD $10 million.
2. Value of total assets less than SGD $10 million.
3. Have less than 50 employees.

Yes. 

Every company incorporated in Singapore, must comply to Section 171 of the Singapore Companies Act (Cap. 50). This stature states that every Singapore incorporated company must have at least one or more corporate secretary.

Where the secretary must be a natural person who has his principal or only place of residence in Singapore. The appointed company secretary will handle on-going statutory compliance matters.

In addition to ensuring mandatory business compliance, by engaging Leftright Corporate Secretarial services – we will appoint our own inhouse qualified Company Secretary to aid you with the responsibilities and duties mentioned in our company secretary page.