Singapore Auditing and Financial Reporting Standards Are Robust in Nature: SBS Consulting

SBS Consulting which is a top notch audit services provider in Singapore has emphasized the importance of Singapore’s robust audit and financial reporting standards amid the global economic uncertainties.

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Singapore -- (SBWIRE) -- 12/02/2013 -- One of the reasons why many companies across the globe went bankrupt in the wake of the global economic meltdown witnessed in the aftermath of 2008 was the flawed auditing and financial reporting methods adopted by them. Despite this fact, Singapore remained one of the very few nations to have survived the severity of the meltdown as the companies of the ‘Island Nation’ had abided by the high audit and financial reporting standards put in place by the Singapore government.

“The constant progressive efforts of the Singapore regime to enhance the quality of its auditors have led to the nation being considered as not only the business hub but also the financial hub of the world. Some of the Singapore government’s initiatives have made it mandatory for the auditors to have substantial experience and exposure to national and international audit standards,” said the business head of one of the leading audit firms in Singapore, SBS Consulting.

Basically, according to the Singapore companies act every company needs to submit its full set of audited financial statements which include the balance sheet, income statements, cash flow statements and other explanatory notes. Furthermore, the government in order to step up the Singapore auditing and financial reporting quality has made it compulsory to file the full set of financial statements in XBRL format.

As one of the leading auditing firms in Singapore, SBS Consulting believes that the onus of delivering authentic, accurate and unbiased audit reports lies at the doorsteps of an audit company in Singapore. The firm also stated that all the Singapore audit firms must have an experienced set of auditors who qualify for the mandatory requirements of ACRA.

The firm has gained the reputation of being a reliable auditing firm in Singapore with its high standard audit services which include internal audit, financial audit, operational audit, investigative audit and so on.

About SBS Consulting
SBS Consulting is a premier audit firm Singapore that provides end-to-end high quality auditing services such as internal audit, financial audit, integrated audit, investigative audit, operational audit, follow-up audit and many more. Apart from the audit services, the firm also has expertise in other domains like company incorporation, Singapore tax & accounting, accounting, corporate secretarial, payroll and immigration visa services.

The firm consists of an elite & experienced team of domain experts that is quite pro-active in gauging a company’s exact needs and fulfilling them in a timely and accurate manner.

SBS Consulting Pte Ltd
35-B Hongkong Street,
Singapore - 059674
Tel: +65 67289142