60 Paya Lebar Road, #12-55 Paya Lebar Square, Singapore 409051
Our audit work will be conducted in stages covering initial planning, review of systems, development of audit programs, performance of audit tests and overall reviews.
Our audit will not only be system oriented but we will also adopt a business approach. This essentially means that in our initial planning, we will develop a thorough understanding of your business and the way you operate. We will focus on high and medium risk items and any other areas of particular concern to you. We believe in establishing an early close working relationship by meeting with your senior people to plan our work to fit your schedules as best as we can.
Our system review of your company’s operation would involve an assessment of the effectiveness and reliability of the internal accounting systems that generate the amounts shown in the financial statements. This review will assist us in determining the nature, timing and extent of our audit work.
Based on our initial planning and our system review, we would tailor our audit programs to give us audit assurance at the most efficient and economical manner to enable us to comply with local reporting requirements.
We will report to you any significant weaknesses in the internal control system which comes to our attention during the course of our audit. Our management letter will include our recommendations for improvements to your internal control system.
We provide compilation service for Exempt Private Company (EPC) to assist the Companies in preparation and presentation of financial statements in accordance with Singapore Financial Reporting Standards (FRS) or Singapore FRS for Small Entities. Since this is not an audit, the accuracy and completeness of the financial statements remain the responsibility of the Companies.
Our tax services comprise both corporate and personal and can be broadly divided in to two major categories i.e. compliance and consulting.
Our compliance activities encompass preparation of income tax returns, replying to written and verbal queries from the Comptroller of Income Tax, making submissions in cases of disagreement between the taxpayer and the Comptroller, taking into account any deadlines or time extension for lodgment, applying/arranging for time extension and ensuring that returns are lodged and taxes are paid on time, preparing and submitting various other government forms required to be lodged with the Inland revenue Authority of Singapore, and generally ensuing that the joint complies with the laws of Singapore.
Our consulting activities generally arise in three ways:
In all of these cases, we provide timely, professional and complete advice taking into account the requirements of the revenue laws and commercial practices and considerations.
We also provide advice on both corporate and personal tax planning. In the former, we advise the most tax efficient method to structure a transaction taking into account commercial considerations and realities. In the latter, we have had considerable experience in recommending and implementing executive packages in the most tax efficient manner.
We can provide virtual office service, collecting all mails addressed to your Company and also notify the appointed person by way of emails of scan documents that arrived at our office.
We provides wide spectrum of Singapore accounting services for companies and businesses to fulfill the regulatory compliance requirements laid down by the governing authorities such as ACRA and IRAS. We have a team of expert accountants that is committed to serve effective and customer oriented services to wide ranges of clientele. We can provide accounting service on a monthly, quarterly, half-yearly or yearly basis. We will also do the necessary GST filings on your behalf to the Inland Revenue Authority Singapore (IRAS) on a regular basis if your Company is GST registered.
Our payroll outsourcing manages Payroll, Tax and Human Resources, HR, process to corporate employers.
We calculate employees’ salary and statutory tax deductions.
Process pay to employees and statutory local authorities to meet statutory deadlines.
Together with close co-operation from our associate, Indsat Corporate Services Pte. Ltd., we provide a complete spectrum of audit assurance, tax, management consultancy, company incorporation, corporate secretarial, immigration liaison services, accounting and booking services, etc.
At IR Practice, we believe the foundation of good business practice is based on trust. We understand that each and every client, regardless of size, is unique and our main objective is to work closely with our clients to build up a solid and professional working relationship.
We pride ourselves in providing personalised, prompt and efficient service to all our clients and they are assured of our undivided attention.
If you have interest in our services that we provide, do feel free to contact me at your earliest convenience.
We look forward to work and grow together with you to meet the changing needs of your business.