Question on Audit, Accounting, Secretarial and Tax services

I’m speaking on behalf of a newly set up company incorporated a year ago. This company is mainly doing shipping services overseas and the places of dock will not be in Singapore. Hence we will be expecting all sales to be out of scope. This company currently has less than 10 employees with nil activities to date. Will
be expecting sales activities in the coming months. The director had informed that he expects more than 10 million hence the reason to appoint an auditor. As this is a small scale of business, I’m trying to engage the minimum audit, secretarial and tax services to ensure that the company is in compliance with the local laws.

Answer on Audit, Accounting, Secretarial and Tax services:

For a turnover of SGD 10 million, I have not seen you company business profile yet, your company management accounts. If the company have substantial fixed assets and have obtain loan from bank.

The audit fee will be in the range of S$8,000 to S$10,000 exclude disbursement cost. It is important to provide you the range of audit fee we will be charging for client of this turnover, with bank loan and substantial fixed assets. Unless, you can give me the management accounts once you have completed the account for that particular financial year end, we will be able to give you an exact audit
fee. As I am a one man show here. By law, an appointed company auditor cannot at the same
time act as the company secretary.

I will be able to recommend your company, a company secretary if you need one.

I will be able to do the tax computation for you or you can get a tax agent recommended by me or if you have somebody in mind to do the tax computation for your company. For a dormant company, audit fee will be S$1,000 exclude disbursement cost.