Corporate Secretarial and Accounting Firm Audit Services and Pricing

Corporate Secretarial and Accounting Firm Audit Services and Pricing | Bestar

Corporate Secretarial and Accounting Firm Audit Services and Pricing

When Corporate Secretarial and Accounting Firm clients require statutory audit services, the process typically works through a referral, partner-facilitated, or independent auditor setup, because corporate secretarial and accounting firms cannot audit their own non-exempt financial statements under independence requirements.  

Service Scope & Workflow

• Unaudited Financial Statements (UFS) Preparation: Corporate Secretarial and Accounting Firm prepares clean, balance-matched management accounts and draft financial statements under Singapore Financial Reporting Standards (SFRS).  

  
  

• Audit Readiness & Working Papers: Compiling primary schedules, bank confirmations, transaction samples, and statutory records for seamless auditor review.  

  
  

• Independent CPA Audit Engagement: Partnering with external, registered Public Accountants/Accounting Entities in Singapore to conduct the independent audit and issue the auditor's report.  

  
  

• Statutory & Tax Compliance: Managing post-audit filings, including Full/Simplified XBRL file generation and Form C/C-S submission to IRAS and ACRA.  

  
  
  
  

Pricing Structure

Service Tier	Scope	Typical Fee Range (SGD)
Audit-Exempt SME	Preparation of Unaudited Financial Statements & Tax Computation	S$800–S$1,800
Standard Statutory Audit	Dormant or low-complexity operating entity (Revenue < S$10M)	S$2,500–S$4,500
Complex / High-Volume Audit	High transaction volume, multi-currency, consolidated group accounts	S$5,000+

How Bestar Singapore Supports Corporate Secretarial and Accounting Firm Clients with Independent Audit Services & Pricing Alignment

Corporate Secretarial and Accounting Firm Audit Services and Pricing

Corporate Secretarial and Accounting Firm provides digital corporate secretarial, bookkeeping, and tax services to thousands of Singapore companies. However, when a growing business outgrows audit exemption under the Singapore Companies Act (Cap. 50), regulatory independence requirements prevent corporate service providers from auditing their own client accounts.

To remain compliant with statutory mandates enforced by the Accounting and Corporate Regulatory Authority (ACRA) and the Inland Revenue Authority of Singapore (IRAS), Corporate Secretarial and Accounting Firm clients must engage an independent Public Accountant and Chartered Accounting Entity. Bestar bridges this gap seamlessly by offering audit execution, AI-assisted audit co-piloting, and competitive pricing matching for Corporate Secretarial and Accounting Firm-managed financial records.

The Compliance Gap: Why Corporate Secretarial and Accounting Firm Clients Require Independent Statutory Audits

Under ACRA guidelines, a Singapore company must perform a statutory audit if it fails to qualify as a "small company" for two consecutive financial years. A company qualifies as a small company if it meets at least 2 of the following 3 criteria:

• Total Annual Revenue: ≤S$10 million

• Total Assets: ≤S$10 million

• Total Employees: ≤50

When a Corporate Secretarial and Accounting Firm client crosses these t hresholds, or when foreign parent holding entities require a audited group consolidated report, Bestar provides independent audit opinion while retaining Corporate Secretarial and Accounting Firm's digital bookkeeping structure.

+-------------------------------------------------------------+
|Corporate Secretarial and Accounting Firm Client Data Pipeline|
|  - Digital Bookkeeping (Xero / QuickBooks)                  |
|  - Corporate Secretarial Maintenance                        |
|  - Unaudited Financial Statements (UFS)                     |
+-------------------------------------------------------------+
                               |
                               v
+-------------------------------------------------------------+
|          Independent Audit Engagement (Bestar)               |
|  - Verification of Internal Controls & Schedules            |
|  - AI-Co-Pilot Risk Analytics & Substantive Testing         |
|  - Issuance of Auditor's Report & Statement by Directors     |
+-------------------------------------------------------------+
                               |
                               v
+-------------------------------------------------------------+
|                  ACRA & IRAS Statutory Filings               |
+-------------------------------------------------------------+

Audit Workflow Integration: Corporate Secretarial and Accounting Firm to Bestar

Bestar integrates directly with cloud accounting platforms utilized by Corporate Secretarial and Accounting Firm, including Xero, QuickBooks, and automated bank feeds. This ensures minimal friction for business founders.

1. Information Handover: Bestar ingests the Unaudited Financial Statements (UFS), trial balances, bank reconciliations, and general ledgers compiled by Corporate Secretarial and Accounting Firm.

   
   

2. Audit Planning & Risk Assessment: Utilizing custom audit AI models, Bestar reviews general ledger transactional patterns to identify high-risk line items and revenue recognition anomalies.

   
   

3. Substantive Fieldwork: Audit working papers, asset registers, inventory valuations, and debtor/creditor confirmations are systematically sampled and verified.

   
   

4. Final Sign-off & XBRL Generation: Bestar issues the Independent Auditor’s Report and collaborates on Full XBRL filing requirements for ACRA compliance.

Bestar vs. Standard Market Audit Pricing Structure

Bestar offers transparent pricing and maintains a competitive rate-matching policy to ensure Corporate Secretarial and Accounting Firm clients receive high-tier audit accuracy at cost-effective market rates.

Service Tier	Entity Complexity / Revenue Tier	Typical Market Fee (SGD)	Bestar Partner / Match Pricing (SGD)
Dormant / Holding Entity	Investment holding, minimal transactions	S$2,000–S$3,000	S$1,500–S$2,200
Standard Operating SME	Revenue < S$10M, single currency	S$3,500–S$5,500	S$2,800–S$4,200
High-Volume / Multi-Currency	E-commerce, global trade, high transaction volume	S$6,000–S$10,000	S$4,800–S$7,500
Group Consolidation Audit	Parent entity with regional subsidiaries	S$8,000+	Tailored Quote / Competitor Match

Note: Bestar actively matches direct competitor written quotes for Corporate Secretarial and Accounting Firm-referred accounts to maintain long-term compliance stability.

Frequently Asked Questions

Can Corporate Secretarial and Accounting Firm perform my company's statutory audit directly?

No. Statutory independence rules set by ISCA and ACRA prohibit corporate secretarial and accounting service providers from auditing non-exempt financial statements they prepared internally. An independent firm like Bestar must issue the auditor's report.

How long does an audit take for a Corporate Secretarial and Accounting Firm client?

Because Corporate Secretarial and Accounting Firm maintains clean digital records on cloud accounting platforms, Bestar completes standard SME statutory audits within 2 to 4 weeks from the receipt of full audit working papers.

What happens if my Corporate Secretarial and Accounting Firm company misses the audit filing deadline?

Failing to submit audited accounts at the AGM and file the Annual Return on ACRA incurs statutory late filing penalties starting from S$300 per breach, alongside potential legal summonses issued to company directors.

Detailed step-by-step audit onboarding workflow and checklist specifically for Corporate Secretarial and Accounting Firm Clients Transitioning to Bestar for statutory audit services

Transitioning clients from a cloud-based corporate secretarial and accounting provider to Bestar requires a structured process. Corporate Secretarial and Accounting Firm operates primarily via digital platforms and automated workflows, so the key to a seamless transition lies in securing full historical digital workpapers, clarifying statutory scope under the Singapore Companies Act 1967, and ensuring strict compliance with Ethics Pronouncement 100 (EP 100).

1 Initial Scope & Eligibility Assessment

Confirm audit mandate and regulatory triggers under Singapore law

Before issuing engagement terms, establish whether the client requires a mandatory statutory audit or an elective engagement:

• Assess "Small Company" Status: Verify if the entity exceeds 2 out of the 3 quantitative criteria (Total Revenue >S$10M, Total Assets >S$10M, Employees >50) under the Companies Act 1967 for the immediate past two consecutive financial years.

  
  

• Evaluate Small Group Rules: If the client is part of a local or foreign corporate group, assess the consolidated group metrics to determine audit exposure.

  
  

• Check Stakeholder Mandates: Confirm if non-qualifying entities require an audit due to bank covenants, investor/VCF agreements, or a 5% shareholder requisition under Section 205B.

2 Professional Clearance & Ethics Compliance (EP 100)

Mandatory auditor-to-auditor clearance protocol under ISCA EP 100

Execute professional clearance procedures to ensure compliance with professional independence standards and identify any accounting or audit impasses with Corporate Secretarial and Accounting Firm:

• Request the client’s written authorization to communicate with Corporate Secretarial and Accounting Firm (or their affiliated audit partner/independent CPA firm that handled the previous statutory audit).

  
  

• Issue a formal Professional Clearance Letter asking if there are any professional reasons why Bestar should not accept the appointment (e.g., unpaid fees, scope limitations, or accounting disagreements).

  
  

• Follow up for Corporate Secretarial and Accounting Firm's written response and confirm the status of all outstanding audit and secretarial fees to prevent transition delays.

3 Data Migration & Document Handover

Extract cloud platform data and historical working papers

Secure comprehensive accounting and secretarial records from the Corporate Secretarial and Accounting Firm platform and prior auditors:

• Accounting Data Export: Obtain general ledgers, trial balances, fixed asset registers, sub-ledgers, and bank reconciliations directly exported from Xero or Osome’s internal platform.

  
  

• Prior Audit Workpapers: Request the predecessor auditor’s audited financial statements, tax computations, management letter items, and opening balance support files.

  
  

• Corporate Secretarial Transfer: Retrieve BizFile+ filing histories, Register of Registrable Controllers (RORC), minute books, and share certificates managed by Osome's corpsec arm.

4 KYC, AML & Independence Onboarding

Perform mandatory anti-money laundering and client due diligence checks

Fulfill statutory CDD and risk assessment requirements prior to contract execution:

• Verify Ultimate Beneficial Owners (UBOs), key office holders, and directors against global sanctions lists, PEP databases, and adverse news.

  
  

• Obtain certified true copies of passport/NRIC identification and proof of residential address for all primary stakeholders.

  
  

• Execute internal independence declarations confirming Bestar has no financial, business, or personal conflicts of interest with the client or its subsidiaries.

5 Engagement Execution & Statutory Appointment

Formalize audit terms and lodge required regulatory notices

Finalize legal engagement documentation and ensure statutory filings are complete:

• Draft and issue the Audit Engagement Letter (EL) defining audit scope, management responsibilities, reporting timelines, and agreed fee structures.

  
  

• Assist the client board in passing Directors' Resolutions to accept Corporate Secretarial and Accounting Firm's auditor resignation (or non-reappointment at AGM) and formally appoint Bestar as Statutory Auditor under Section 205.

  
  

• Ensure the incoming corporate secretarial team lodges the change of auditor notice via ACRA BizFile+ within statutory timelines.

Onboarding & Transition Checklist

Phase	Task Description	Document / Output Required	Responsible Party	Status
1. Pre-Engagement	Determine audit requirement (Revenue/Asset/Staff thresholds or Group test)	Exemption Analysis Sheet	Bestar Audit Manager	[ ]
	Obtain Client Consent for Professional Clearance	Signed Authorization Letter	Client Director	[ ]
	Issue Professional Clearance Letter to Outgoing Auditor/Osome	Professional Clearance Letter	Bestar Audit Partner	[ ]
2. Due Diligence	Perform AML/CFT checks on UBOs, Directors, and Controllers	KYC Clearance Report	Bestar Compliance	[ ]
	Check independence & conflict of interest constraints	Independence Declaration	Audit Engagement Team	[ ]
3. Contract Execution	Issue formal Engagement Letter detailing scope and fees	Signed Audit Engagement Letter	Bestar & Client	[ ]
	Pass Board Resolutions approving auditor change	Board / General Meeting Minutes	Company Secretary	[ ]
	File Change of Auditor on ACRA BizFile+	ACRA Filing Confirmation	Company Secretary	[ ]
4. Handover & Data	Extract General Ledger, TB, & Sub-ledgers from Corporate Secretarial and Accounting Firm/Xero	Standard Data Export (.xlsx / .csv)	Client / Corporate Secretarial and Accounting Firm	[ ]
	Secure prior year Audited Financial Statements & Tax Returns	Signed Audit Report & Form C / C-S	Predecessor Auditor	[ ]
	Collect bank confirmation lists, agreements, & legal contracts	Master Document Checklist	Client Finance Team	[ ]
5. Audit Planning	Perform Opening Balance Verification & Initial Risk Assessment	Audit Planning Memorandum (APM)	Bestar Audit Senior	[ ]
	Set Audit Timetable & Fieldwork Schedules with Client	Finalized Audit Schedule	Bestar Lead Auditor	[ ]

Strategic Partner / Referral

• Transition your Corporate Secretarial and Accounting Firm financial statements to Bestar for independent, seamless ACRA statutory audit compliance. Get a rate-matched audit quote today.

  
  

• Crossing the S$10M revenue mark or outgrowing audit exemption? Schedule a 15-minute audit readiness consultation with Bestar's audit team.

  
  

• Need an independent CPA firm to sign off on your Corporate Secretarial and Accounting Firm-prepared financial accounts? Connect with Bestar to lock in transparent, competitor-matched audit fees.

Click Button	Request a Matched Audit Quote
Email	Book Your Bestar Audit Readiness Review →
Proposal	Lock In Your Statutory Audit Rate
Mobile / WhatsApp	Chat with an Auditor

Compelling B2B sales email from Bestar targeting Corporate Secretarial and Accounting Firm clients who need independent statutory audit services in Singapore

To 

client@example.com

CcBcc

Subject: Independent Statutory Audit Sign-off for Your Corporate Secretarial and Accounting Firm-Managed Accounts

Dear [Client Name],

As your business grows, keeping your financial statements compliant and statutory-audit-ready becomes essential. While Corporate Secretarial and Accounting Firm handles your ongoing cloud accounting and corporate secretarial management smoothly, Singapore regulatory requirements under ACRA and ISCA mandate that statutory audits be performed by an independent Public Accountant and Chartered Accounting Entity.

At Bestar, we specialize in providing seamless, independent statutory audit sign-offs specifically tailored for companies using Corporate Secretarial and Accounting Firm and cloud platforms like Xero.

Why Corporate Secretarial and Accounting Firm clients partner with Bestar:

• Direct Digital Integration: We work directly with your exported Corporate Secretarial and Accounting Firm management accounts, trial balances, and Xero ledgers—minimizing disruptions for your team.

• AI-Assisted Efficiency: Our tech-driven audit workflow ensures fast turnaround times (typically 2 to 4 weeks) while maintaining strict statutory compliance.

• Transparent & Rate-Matched Pricing: We actively match competitor written quotes, ensuring you receive high-tier audit assurance without paying premium Big Four rates.

• Complete Compliance Management: From independent auditor's reports to Full XBRL preparation and IRAS tax alignment, we cover the full scope.

Whether your company has crossed ACRA’s audit exemption threshold (Revenue > S$10M, Assets > S$10M, or > 50 employees) or requires an independent audit for investors, parent entities, or bank covenants, we are ready to assist.

Would you be open to a quick 15-minute call this week to review your audit timelines and fee structure? Alternatively, reply to this email with your latest draft accounts for a complimentary fee assessment.

Best regards,

Managing Director

Bestar

Email: admin@bestar-asia.com

Website: www.bestar-sg.com