Switching Auditors in Singapore Process Guide

Roger Pay
16 hours ago
7 min read

Singapore Auditor Switch Process Guide

Changing your auditor is a standard part of corporate growth, but in Singapore’s strictly regulated environment, it requires precise adherence to the Singapore Companies Act and ACRA guidelines.

This guide outlines the legal process, timelines, and best practices for a seamless transition in 2026.

Why Companies Switch Auditors in Singapore

While long-term partnerships offer stability, several factors often trigger a change:

Scale & Complexity: Your business has outgrown a boutique firm and needs a mid-tier or Big 4 firm for group audits.
Cost Efficiency: Finding a better balance between audit quality and professional fees.
Expertise: Requiring industry-specific knowledge (e.g., VCCs, Fintech, or ESG reporting).
Governance: Rotating auditors every few years to ensure a "fresh set of eyes" and maintain independence.

The 4-Step Process to Switch Auditors

The procedure differs slightly depending on whether your company is a Private Limited entity or a Public Interest Company (PIC).

1. Board Selection & Professional Clearance

Before any formal steps are taken, your board must identify a new auditor.

Professional Clearance: Under ethical guidelines, the incoming auditor must write to the outgoing auditor to ask if there are any professional reasons why they should not accept the appointment (e.g., unpaid fees or ethical disputes).
Consent to Act: The new auditor must provide a formal "Consent to Act" letter.

2. The Outgoing Auditor’s Resignation

The current auditor must submit a formal Notice of Resignation to the company’s registered office.

Non-Public Companies: Resignation is straightforward once the notice is received.
Public Interest Companies (PIC): Auditors of listed companies or their subsidiaries must seek ACRA’s consent to resign. This involves a $200 fee and a statement of reasons.

3. Shareholder Approval (EGM/AGM)

An auditor is appointed by shareholders, not just directors.

General Meeting: The directors must convene an Extraordinary General Meeting (EGM) or wait until the next Annual General Meeting (AGM) to pass an Ordinary Resolution to appoint the new auditor.
Special Notice: For the removal of an auditor before their term ends, a special notice of at least 28 days is typically required.

4. ACRA Notification (BizFile+)

Once the resolution is passed, the company must update ACRA via the BizFile+ portal.

Timeline: You must lodge the cessation of the old auditor and the appointment of the new one within 14 days of the change.
Penalty: Failure to notify ACRA within the prescribed timeline can result in fines for the company and its directors.

Compliance Checklist for 2026

To ensure a transition that doesn't disrupt your operations, use this checklist:

Task	Responsible Party	Timeline
Identify New Auditor	Board of Directors	3–4 months before FYE
Request Professional Clearance	Incoming Auditor	1 week after selection
Board Resolution to Propose Change	Directors	Immediate
Resignation/Consent to Act Letters	Both Auditors	Before General Meeting
Pass Shareholder Resolution	Shareholders	During EGM/AGM
Lodge Change with ACRA	Corporate Secretary	Within 14 days of meeting

Common Pitfalls to Avoid

Waiting too late: Switching auditors right before your Financial Year End (FYE) can lead to delays in filing and potential late penalties.
Incomplete Handover: Ensure your previous auditor provides the "Opening Balances" and necessary working papers to the new firm.
Audit Exemption Oversight: Check if you still need an auditor. In Singapore, you are exempt if you meet "Small Company" criteria (Revenue < $10M, Assets < $10M, Employees < 50).

Expert Tip: If you are a subsidiary of a foreign firm, ensure the new auditor’s network aligns with your parent company’s requirements to streamline group reporting.

Ready to streamline your compliance?

Board Resolution for the Change of Auditors

This draft is a standard template for a Board Resolution to propose a change of auditors. In Singapore, while the Board initiates the process, the final appointment must be ratified by shareholders at a General Meeting (EGM or AGM).

BOARD RESOLUTION OF [COMPANY NAME]

(Company Registration No: [UEN Number])

(Incorporated in the Republic of Singapore)

WRITTEN DISCLOSURE PURSUANT TO THE ARTICLES OF ASSOCIATION / CONSTITUTION OF THE COMPANY

1. CHANGE OF AUDITORS

WHEREAS:

The Company has received a formal notice of resignation from the current auditors, [Name of Outgoing Audit Firm], dated [Date of Resignation Letter].
The Board has identified [Name of Incoming Audit Firm] as a suitable replacement to act as the auditors of the Company for the current financial year.
[Name of Incoming Audit Firm] has provided their written "Consent to Act" as Auditors of the Company, subject to shareholder approval.

IT IS RESOLVED THAT:

The resignation of [Name of Outgoing Audit Firm] be and is hereby accepted.
The proposal to appoint [Name of Incoming Audit Firm] as the Auditors of the Company in place of the retiring auditors be and is hereby approved, to hold office until the conclusion of the next Annual General Meeting at a fee to be agreed upon between the Directors and the Auditors.
An Extraordinary General Meeting (EGM) of the Company be convened on [Date] at [Time] at [Location/Zoom Link] for the purpose of seeking shareholder approval for the aforementioned appointment.
Any Director or the Company Secretary be and is hereby authorized to:
- Sign and lodge the necessary notifications with the Accounting and Corporate Regulatory Authority (ACRA) via BizFile+.
- Execute all documents and take all such steps as may be necessary to give effect to this resolution.

BOARD OF DIRECTORS

Name of Director	Signature	Date
[Director Name A]	____________________	[Date]
[Director Name B]	____________________	[Date]

Important Next Steps

Shareholder Circular: After this board resolution, you must send a Notice of EGM to all shareholders (usually 14 days' notice for a private company).
The EGM: At the meeting, an Ordinary Resolution must be passed.
BizFile+ Lodgment: Once the EGM is over, your Corporate Secretary has 14 days to file the "Cessation of Auditor" and "Appointment of Auditor" forms online.

"Notice of Extraordinary General Meeting (EGM)" for Shareholders

This Notice of Extraordinary General Meeting (EGM) is the formal document sent to your shareholders to invite them to vote on the auditor change.

In Singapore, for a private company, you must typically provide at least 14 days' notice unless all shareholders entitled to attend and vote agree to a "Short Notice" (which requires a specific consent form).

[COMPANY NAME]

(Company Registration No: [UEN Number])

(Incorporated in the Republic of Singapore)

NOTICE OF EXTRAORDINARY GENERAL MEETING

NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (“EGM”) of [Company Name] (the “Company”) will be held at [Location/Address or Virtual Meeting Link] on [Date, e.g., 5 February 2026] at [Time, e.g., 10:00 AM] for the purpose of considering and, if thought fit, passing with or without any modifications, the following resolution:

AS ORDINARY RESOLUTION:

APPOINTMENT OF AUDITORS

THAT:

[Name of Incoming Audit Firm], having consented to act, be and are hereby appointed as Auditors of the Company in place of the resigning Auditors, [Name of Outgoing Audit Firm], to hold office until the conclusion of the next Annual General Meeting of the Company at a remuneration to be fixed by the Directors.
The Directors of the Company and each of them be and are hereby authorized to complete and do all such acts and things as they may consider necessary or expedient to give effect to this Resolution.

By Order of the Board,

(Signature)

[Name of Director/Secretary]

[Date of Notice]

Explanatory Notes to Shareholders:

The Company has received a notice of resignation from [Name of Outgoing Audit Firm]. The Board of Directors, having reviewed the credentials and fee proposal of [Name of Incoming Audit Firm], recommends their appointment to ensure the continued efficiency of the Company’s statutory audit requirements.

Notes on Attendance:

A member entitled to attend and vote at the EGM is entitled to appoint a proxy to attend and vote instead of him/her. A proxy need not be a member of the Company.
The instrument appointing a proxy must be deposited at the Registered Office of the Company not less than 48 hours before the time appointed for holding the EGM.

Pro-Tips for the EGM Process

The 95% Rule (Short Notice): If you are in a rush and cannot wait 14 days, you can hold the EGM earlier only if shareholders holding not less than 95% of the total voting rights agree to it in writing.
The Minutes: Ensure your Corporate Secretary takes formal "Minutes of the EGM" immediately after the meeting, as these will be required if ACRA ever audits your secretarial records.
Proxy Forms: If you have many shareholders, I recommend attaching a standard Proxy Form to this notice so they can vote even if they can't attend.

Bestar Singapore

Switching Auditors in Singapore Process Guide

Choosing a mid-tier firm like Bestar Singapore (specifically Bestar Assurance PAC) is a strategic move for companies that have outgrown boutique firms but want more personalized partner-led attention than a "Big 4" firm might provide.

Below is an overview of why Bestar is a preferred choice in the Singapore mid-tier market and how to finalize our appointment.

Why Choose a Mid-Tier Firm like Bestar?

Mid-tier firms bridge the gap between cost and high-level technical expertise. Bestar is particularly noted for:

Cost-Benefit Ratio: High-quality statutory audits starting from approximately $1,000, making them accessible for SMEs while maintaining the rigors of Singapore Financial Reporting Standards (SFRS).
Digital-First Approach: They utilize AI-powered tools and cloud-based auditing, which reduces manual paperwork and speeds up the audit timeline.
Specialized Domain Knowledge: Beyond standard audits, they handle complex structures like VCCs (Variable Capital Companies), MCSTs, and Charity/IPC audits.

Finalizing Bestar's Appointment

To officially appoint Bestar, you will need their specific entity details for your ACRA BizFile+ filing.

Auditor Details for Filing

Field	Information to Enter
Name of Audit Firm	Bestar Assurance PAC
UEN of Auditor	201209518K
Address	23 New Industrial Road, #04-08 Solstice Business Center, Singapore 536209

Updated Ordinary Resolution for EGM

Use this version to specifically name Bestar in your shareholder meeting.

AS ORDINARY RESOLUTION:

APPOINTMENT OF BESTAR ASSURANCE PAC AS AUDITORS

RESOLVED THAT:

Bestar Assurance PAC (UEN: 201209518K), having provided their written consent to act, be and are hereby appointed as the Auditors of the Company in place of the resigning auditors, [Name of Outgoing Auditor], to hold office until the conclusion of the next Annual General Meeting of the Company.
The Directors be authorized to fix the remuneration of the Auditors for the ensuing year.
Any Director or the Company Secretary be and is hereby authorized to lodge the "Notice of Appointment" with the Accounting and Corporate Regulatory Authority (ACRA).

The Transition Timeline

Onboarding (Week 1): Bestar sends the Professional Clearance letter to your previous auditor.
Formalities (Week 2): You sign the Engagement Letter and Directors' Resolution.
Meeting (Week 3): Hold the EGM and pass the resolution.
Lodgment (Within 14 Days): Your Corporate Secretary updates ACRA BizFile+.