An accounting company in Singapore provides businesses with integrated financial services, including audit, tax, corporate secretarial, and advisory. For SMEs and MNCs operating under ACRA and IRAS regulations, engaging a full-service firm ensures statutory compliance, reduces operational risk, and frees up internal resources to focus on growth and core business functions.
Running a business in Singapore comes with real regulatory obligations — and they don't slow down. From annual returns and GST filings to audit requirements and corporate governance, the administrative burden on business owners compounds quickly. Whether you're a local SME scaling operations or a foreign MNC setting up a regional base, working with a reliable accounting company in Singapore is not just convenient — it's strategically necessary.
Why Singapore Businesses Need a Full-Service Accounting Firm
Singapore's regulatory environment is efficient, but it is not simple. ACRA mandates timely annual return filings, IRAS enforces strict tax deadlines, and the Companies Act requires proper corporate records at all times. For businesses without a dedicated in-house finance team, these requirements can create serious compliance gaps.
A full-service accounting firm covers all these bases under one roof. Instead of coordinating between separate auditors, tax agents, and secretarial providers, you work with a single team that understands your business holistically. That integration reduces errors, avoids duplicated effort, and keeps your compliance calendar on track.
According to ACRA's 2023 annual report, Singapore had over 600,000 registered business entities — the majority of which are SMEs that rely on external professional services to meet their compliance obligations.
Core Services Offered by an Accounting Company in Singapore
Audit Services
Statutory audits are required for companies that do not qualify as small companies under the Companies Act. Even for exempt companies, voluntary audits strengthen credibility with investors, lenders, and overseas stakeholders. A qualified audit team ensures your financial statements comply with Singapore Financial Reporting Standards (SFRS) and are ready for scrutiny.
Key audit-related services include:
- Statutory audit for Singapore-incorporated companies
- Group consolidated audit for MNC subsidiaries
- Special purpose audits for due diligence and transactions
- Internal audit and risk assessment
Tax Advisory and Compliance
Singapore's corporate tax rate stands at 17%, with partial tax exemptions available for qualifying companies — particularly new start-ups in their first three years. Navigating the IRAS system efficiently requires more than filing returns on time. It requires planning.
Experienced tax advisors help businesses structure transactions, manage transfer pricing documentation, apply for GST registration or exemption, and identify eligible tax incentives under Singapore's various schemes. Audit and tax services in Singapore are most effective when handled together, as your audited accounts form the basis for tax computations.
Common tax services include:
- Corporate income tax filing (Form C / Form C-S)
- GST registration and quarterly return filing
- Transfer pricing documentation
- Personal income tax for directors and expatriates
- Tax planning and restructuring advisory
Corporate Secretarial Services
Every company incorporated in Singapore must appoint a company secretary within six months of incorporation. This is a legal requirement under the Companies Act, and the role cannot be left vacant. Corporate secretarial services cover far more than just that appointment.
A professional secretarial team manages your ACRA filings, maintains statutory registers, prepares board and shareholder resolutions, handles changes in directorships or shareholding, and ensures your annual general meetings (AGMs) are conducted in compliance. For foreign companies with limited local presence, this is often one of the most critical services they need.
Accounting and Bookkeeping
Accurate books are the foundation of every other service. Outsourced accounting means your monthly or quarterly management accounts are prepared by professionals who understand local standards — without the cost of a full-time hire. Many firms offer cloud-based bookkeeping solutions, making real-time financial data accessible to business owners and their overseas headquarters.
Business Advisory and CFO Services
Beyond compliance, businesses often need strategic financial guidance — especially during growth phases, fundraising, or market entry. Advisory services from an experienced accounting firm can include financial forecasting, budgeting support, business valuation, and M&A advisory. For smaller businesses that don't need a full-time CFO, outsourced CFO services offer senior-level financial leadership on a flexible, cost-effective basis.
What to Look for in an Accounting Firm in Singapore
Not all firms are equal. When evaluating an accounting firm in Singapore, consider these factors
| Factor | Why It Matters |
|---|---|
| Years of operation | Indicates regulatory knowledge and industry experience |
| Service breadth | One firm for audit, tax, secretarial, and advisory saves time |
| Membership / accreditation | ICPAS membership and ACRA registration signal professional standards |
| Industry specialisation | Sector knowledge means faster, more accurate service delivery |
| Technology adoption | Cloud tools improve visibility and collaboration |
| Client communication | Responsive teams reduce compliance delays and missed deadlines |
Accounting Requirements for Foreign Companies in Singapore
Singapore is consistently ranked among the world's easiest places to do business, and foreign investment remains strong. However, foreign companies registering a subsidiary or branch here must meet the same ACRA and IRAS requirements as local businesses — sometimes with additional cross-border complexity.
Transfer pricing rules, withholding tax obligations, and double taxation agreement (DTA) applications require specialist knowledge. An accounting firm with experience handling MNC clients can help foreign businesses navigate these requirements efficiently, avoiding penalties and ensuring their Singapore entity operates as a compliant, well-governed entity from day one.
The Cost of Getting It Wrong
Late filing of annual returns with ACRA attracts penalties. Incorrect GST filings can lead to IRAS audits and backdated assessments. A missing or unqualified company secretary puts your company's statutory records at risk. These are not hypothetical risks — ACRA and IRAS enforcement actions are real and increasingly digitised.
Engaging a professional accounting company early is far less costly than remediation. Most compliance issues that escalate do so because small businesses delay seeking professional help until a problem becomes urgent.
How Tan, Chan & Partners Supports SMEs and MNCs
Established in 1982, Tan, Chan & Partners has built its reputation on one consistent principle: businesses in Singapore deserve reliable, integrated professional services from a team they can trust. Over four decades, the firm has supported SME owners, startups, and multinational corporations across industries ranging from manufacturing and trading to professional services and technology.
The firm offers a full suite of services — audit, tax, corporate secretarial, bookkeeping, and business advisory — delivered by experienced professionals who understand both Singapore's regulatory landscape and the practical realities of running a business here. For foreign companies entering the market, the team provides structured onboarding support that covers incorporation, secretarial setup, tax registration, and ongoing compliance.
What sets Tan, Chan & Partners apart is not just the breadth of services — it is the continuity of relationships. Many clients have worked with the firm for years, returning year after year because they trust the advice, rely on the accuracy, and value the straightforward communication.
Frequently Asked Questions
What does an accounting company in Singapore typically offer?
A full-service accounting company in Singapore typically offers audit, corporate tax filing, GST compliance, corporate secretarial, bookkeeping, and business advisory. Some firms also provide CFO services and M&A support. The advantage of a one-stop firm is consolidated service delivery, reduced coordination costs, and a single point of accountability for all your compliance needs.
Is audit compulsory for all companies in Singapore?
Not all companies are required to undergo a statutory audit. Under the Companies Act, companies that qualify as "small companies" — meeting at least two of three size criteria — are exempt. However, companies that do not meet the exemption threshold must appoint an auditor and conduct an annual statutory audit.
When must a Singapore company appoint a company secretary?
Under the Companies Act, every Singapore company must appoint a qualified company secretary within six months of incorporation. The secretary must ordinarily reside in Singapore. Failure to maintain this appointment is a compliance breach. Most businesses outsource this role to a professional corporate secretarial services provider.
Can a foreign company use an external accounting firm for Singapore compliance?
Yes. Foreign companies with a Singapore subsidiary or branch commonly engage external accounting firms to handle all local compliance — including ACRA filings, IRAS tax returns, GST, and secretarial requirements. This is often more efficient than hiring in-house staff, particularly during the early stages of market entry.
How is corporate tax calculated in Singapore?
Singapore's headline corporate tax rate is 17% on chargeable income. New companies may benefit from a partial tax exemption on the first S$200,000 of chargeable income for their first three assessment years. A qualified tax advisor can help you structure your accounts to maximise applicable exemptions and ensure accurate IRAS filing.
What is the difference between bookkeeping and accounting services?
Bookkeeping involves recording day-to-day financial transactions — invoices, payments, and bank reconciliations. Accounting encompasses broader analysis, including management reporting, financial statement preparation, and tax computation. Many Singapore businesses outsource both to the same firm to ensure consistency between transactional records and statutory financial reports.