Compilation reports are unaudited financial statements. Companies may opt for non-audit services if they fulfil the statutory requirements. Compilation reports are inexpensive, and they serve as a better option for companies to meet the same compliance requirement for proper record keeping.

A compilation report will give you the level of comfort that the information is compiled with professional competence and due care. It is sufficient for income tax filing to the Inland Revenue Authority of Singapore (IRAS) and annual return filing to the Accounting and Corporate Regulatory Authority (ACRA).

• A full set of compilation reports should include explanatory notes and accompanied by the Directors’ Report and the Statement by Directors. The reports are prepared in compliance with the Singapore Financial Reporting Standards (“SFRS”).