FINANCIAL COMPILATION
A compilation of financial statements report assures that information is put together with professional competence and due care. It is also sufficient for income tax filing purposes. However, a Compilation Engagement is not an audit as no audit opinion is issued.

ELC provides Exempt Private Company (EPC) Accounts Compilation Service, which will help you fully comply with the new Companies Act and reduce your business costs tremendously.

What is an Exempt Private Company (EPC)?

• An EPC is a private company with no corporate shareholders and not more than 20 shareholders.
  
• An EPC is a company whose annual revenue does not exceed the prescribed annual revenue threshold of $5 million for financing years starting on and after 1 June 2004
  

Eligibility for audit exemption:

• Dormant companies (i.e. those with no significant accounting transactions), or
  
• The laws allows a small exempt private companies to be exempted from audit requirements in respect of a financial year if its revenue in that year does not exceed the prescribe amount of S$5 million on and after 1 June 2004.
  
• The amended law also removes the requirement for secretaries of exempt private companies to sign on the exempt private company certificates. This amendment shall apply to all exempt private companies for financial years starting on and after 15th May 2003
  

For further enquiries or a non-obligatory quote, please send us an enquiry.