We have sufficient staff to form an accounting department. We are now certified ProAdvisor to Intuit's QuickBooks Online software and certified Xero Partner to Xero Online software. Our staff are also familiar with various common desktop accounting software such as QuickBook, MYOB and AccPac.
Both Online Software provide a new platform with which our clients are able to access current data for business decisions. We also use Excel or Openoffice to generate financial data reports for management use, highlighting ratios and findings from the compiled information.
The accounting department reports to the audit managers and partners responsible for their clients. The audit managers are familiar with clients and their issues and with their expertise of the Singapore Financial Reporting Standards, provide for an effective supervisory system. The accounting department staff report to a supervisor responsible for training and guiding them.
Our collaborative online software application also makes it possible for our staff to communicate and share information with our audit, secretarial and tax departments. This enhances early detection of any possible issues.
Our staff are issued with laptops, allowing them to either perform their clients' work on site or, if some of their clients prefer, in our office.
We provide due diligence services to Small and Medium Enterprises requiring to either to acquire or to sell a business. Our knowhow in identifying key concerns of an enterprise comes from our experience with the various of aspects of financial, tax and corporate structure matters. Depending on the specific objectives of the acquisition exercise, due diligence provides assurance underlying the key areas of most acquisition concerns.
Selling or buying a business or company invariably requires an understanding of the various assumptions in the value of a business or company. We assist in providing an understanding of the valuation of the business or company so as to provide a basis for negotiating the disposal or acquisition of a business. Not all businesses are valued using a fixed template and formula. Our business valuation methodology attempts to dwell into the various intricacies and key driver of values of the business to provide a more relevant basis of valuing a business.
Business valuation is commonly needed also when a shareholder of the company intends to dispose of his/her shares in the company.
Changes to ownership of a business require business valuation to determine a fair value to both parties. Business valuation can also be used as an exercise to understand how potential investors value your business. Similarly, disputes may be resolved by facilitating a sense of understanding the worth of business. Our experience over 30 years gives us valuable inputs to the essential elements when conducting a business valuation.
Over the years, businesses or companies will experience change, albeit in varying degree. Corporate restructuring exercises require the combined knowledge of the core areas of accounting, company law and tax. We have the necessary in depth knowledge of these areas to enable us to understand a holistic approach to corporate restructuring and issues common to Small and Medium Enterprises.
Various forms of changes are often needed in a company or group of companies. These changes require a combination of changes to share capital, shareholding structure, acquiring a business, participating in a joint-venture, etc. Our knowledge in audit, taxation and corporate law provides comprehensive insight into various aspects of corporate restructuring.
In line with corporate restructuring, issues peculiar to family owned companies invariably involve consideration of various sensitive issues of these companies. Our experience with mostly family owned companies gives us strong empathetic knowledge of family run companies. Planning for succession is not easy but we like to position ourselves so as to assist in mitigating common issues of family owned companies by sharing our own experience and tailoring the experience to each unique family owned companies.
Our associate partner has more than 30 years experience in assisting clients in identifying, advising and implementation of succession planning. Most SMEs are faced with family succession planning and we offer an objective insight into how to structure a relevant and practical succession planning exercise.
Closing of Companies - S344, Liquidation
Closing companies can be painless under certain conditions. We offer advice on not only how to close your business or companies, but also when and why. There are various forms of closing a company ranging from the simplest application to de-register a company to a slightly complex voluntary liquidation depending on whether on the qualifying criteria.
Increase/reduce share capital
Companies can increase or reduce its share capital without applying to court under certain conditions. We provide advice on the option of capital reduction or share buy-back and and assist with the procedures in accordance with the provisions of the Companies Act.
Sometimes, companies in a group structure become irrelevant and to help simplify the group, the Companies Act makes it possible to amalgamate 2 or more companies in a group. Our taxation knowledge is important in applying the amalgamation exercise.
Grants and Incentives
We provide assistance for submission and review submission of grants and incentives. Our audit, tax and secretarial departments are constantly on the lookout for possible opportunities for grants and incentives.
Risk Advisory and Assurance
Humans tend to decompose complex and voluminous information to manageable bite sizes, commonly in three key terms. Given this tendency, subject matter experts decompose the principles and practice relating to board oversight and executive management of organisations to governance, risk and compliance - GRC in short.
Governance, or more fully, corporate governance broadly refers to how an organisation is managed to create value. Risk, in short for enterprise risk management (ERM), entails the identification, assessment, prioritisation and management of business risks that prevent the achievement of organisational objectives. Compliance is in respect of requirements from two sources – externally, laws and regulations and internally, organisational policies and procedures.
SMEs - both for profit and not - operating in today's business environment face increasing scrutiny from multiple stakeholders with ever proliferating expectations on GRC matters. Individuals tasked with organisational oversight and executive management responsibilities are increasingly seeking external professional services, whether it is internal audit; ERM; or other GRC services.
Internal audit was an unnecessary overhead in the eyes of SMEs not so long ago. The ever rising expectations on an organisation's efforts in GRC matters changed this view. Today, internal audit's value in GRC is no longer in question.
SMEs need not be alone in meeting the rising demands. The options available are to: establish an in-house internal audit function; outsource it to a professional service provider; or to take a hybrid approach that entails co-sourcing and in-sourcing. The prevailing wisdom views outsourcing to be the most viable option for most SMEs.
Conventional wisdom notwithstanding, we offer a partnership approach to arrive at the optimal solution for SMEs. For this purpose, we and our Alliance Partner work together with the organisation itself to arrive at a solution that is tailored to organisational needs. Contact us for a complimentary diagnosis.
Cloud Accounting Software
We are Certified Pro-Advisor for Intuit and Certified Advisor for Xero, state-of-the-art Cloud Accounting Software. Our experience with and knowledge of these accounting software and their large array of Add-Ons enable us to help you identify and implement the most suitable Cloud Accounting software for you to harness the features they provide to empower you with up-to-date information anywhere, anytime and immediately without incurring exorbitant software development costs.
In the nutshell, you stay focused on what you do best, that is, Your Business.