We offer a comprehensive range of services that caters to the needs of every business. We believe in a professional and proactive approach, personalised attention, practical solutions and unwavering perseverance to helping clients solve problems. Our partners, directors and managers are closely involved from the beginning until the end of each engagement.
When it comes to deadline, we know your financial information is critical in garnering trust in the global business world, we work fast and efficiently to meet all of yours. We specialise in providing high quality audit and assurance services as follows:
Audit of Financial Statements
We lend credibility to your company’s financial statements for the purpose of statutory filing in Singapore as well as reporting to your Head Office for Group consolidation. Our risk-based audit approach focuses on business drivers, the associated risks, and the potential effects on the financial statements.
How We Work
Our approach is proactive. Our methodology is developed to ensure delivery of a high quality audit to the client and compliance with the Singapore Standards on Auditing. A risk-based approach is adopted. Key financial risks and issues that are important to management are identified through understanding of the business operations and the entity’s control environment. This allows customised audit procedures to be designed and audit effort to be focused on key audit areas. AAA Assurance PAC is experienced in developing in its people a practical understanding of business, the expertise to comprehend relevant facts and apply sound judgement in arriving at solutions to suit the particular characteristics of each client’s business.
Benefits to our Clients
We, in conjunction with our channel partner, BSH Secretarial Svs Pte Ltd, offer the following corporate secretarial services services.
Incorportation of Private Limited Companies
In accordance with the Singapore Companies Act, Cap. 50, there are certain requirements that must be met in the formation of a private limited company. In this regard, we append herewith some Notes and Guidelines for your information.
A private limited company in Singapore is a separate legal entity and shareholders are not liable for the company’s debts beyond the amount of share capital they have contributed (hence the term limited liability). According to the Singapore Companies Act, any person (foreign or local) above the age of 18 can register a Singapore company.
A properly structured private limited company is a very tax efficient corporate body; hence, this form is the most common type of business entity registered in Singapore.
Notes and Guidelines
There is no restriction on foreign shareholding.
A company can have one director who must be “ordinarily resident in Singapore” i.e. a Singapore citizen, a Singapore PR or a person who has been issued an Employment Pass/ Approval-In-Principal Letter/ Dependent’s pass.
If required, we could arrange for persons known to us to act as nominee directors of the proposed company to meet the statutory requirements. These persons, who would function in non-executive capacities, are neither partners nor employees of our company.
When nominee director service is required, our compliance will conduct its due diligence. The overall due diligence assessment may result in a higher annual nominee director fee and/or security deposit fee.
There must be at least one shareholder who can either be an individual of any nationality or a corporate company.
Minimum paid-up capital for registration of a Singapore company is S$1 for incorporate purpose. Paid-up capital (also known as share capital) can be increased any time after the incorporation of the company.
A company is also required to have a registered office in Singapore. You must provide a local Singapore address as the registered address of the company. We will provide you our office address if you don’t have a local address and charges applies accordingly.
Company Secretary and Provision of Secretarial Retainer Services
A company is not required to appoint a company secretary at the time of its incorporation, but is required to do so within 6 months of its incorporation. The company secretary must be a resident in Singapore.
Filing of Annual Return and Preparation of XBRL
The annual return is an electronic form lodged with ACRA and contains important particulars of the company such as the name of the directors, secretary, its members, and the date to which the financial statements of the company are made up to. The annual return provides critical information that helps the company’s stakeholders to make informed decisions.
An annual general meeting (AGM) is a way for your company to present its financial statements (accounts) to shareholders (members). Shareholders can then ask questions about the health of your business. An AGM is therefore an important opportunity to address their concerns.
Since 1 November 2007, companies required to file financial statements with ACRA are required to file financial statements in XBRL format.
You can outsource the preparation of your Financial Statement in XBRL format to BSH Secretarial SVS Pte. Ltd. Our professionals will prepare your financial statements in accordance to requirements listed in ACRA, using the enhanced XBRL tool - BizFinx. You can dedicate your precious time on your core business, instead of figuring out how to use BizFinx, which can be a hassle, time-consuming and tedious.
Striking Off / Closing Down of Company
A company may apply to ACRA to be struck off the register but it must fulfill the below conditions:
Requirement for Strike Off
Bring last set of Financial Statement (up till the date the company’s bank account is closed), where all assets and liabilities of the company need to be cleared; (If you need assistance to prepare your last set of financial statement and tax submission, we can help you in assisting in it as well!)
Tax Clearance Acknowledgement from IRAS.
Upon receiving payment, we will prepare full-set of strike-off documents and apply on your behalf. The entire strike-off process takes approximately 4 months.
Setting up a new company is easy but to liquidate one, you would need an experienced team to advise and help you in the process.
For whatever reasons you need to do a valuation, we will help you to define a reasonable scope of services to achieve your objective/s as we understand most SMEs have budgetary constraints.
We, in conjunction with our channel partner, BSH Consultants Pte Ltd, offer the following accounting/book keeping services.
Book Keeping & Year End Financial Services
GST Filing Service
We in conjunction with our channel partner, BSH Accounting Svs PL offer the following tax services.
Tax Planning & Tax Return Filing Services
At BSH Accounting Svs Pte. Ltd., we offer comprehensive tax compliance services and also assist in tax planning. We believe that good forward planning will in turn minimise tax burden.
We are confident that we can take great care of your company's corporate tax filing at a competitive price.
We provide a comprehensive range of business consultancy services. Our knowledge is your success. Leverage on our professional expertise to achieve your goals.
Outsourcing your company’s payroll function allows for freeing up of resources, including valuable human capital, and allows you to concentrate and engage in projects that add value to your business.
We offer extensive experience in the operation of the payroll function.
Here is a detailed breakdown of the services we provide: