Singapore's audit exemption framework has been unchanged for over a decade. The S$10 million revenue and asset thresholds under Section 205C of the Companies Act 1967 — the gateway to the "small company" exemption — have stood since 1 July 2015. In February 2026, the Accounting and Corporate Regulatory Authority (ACRA) formally announced a review [...]
ACRA's audit exemption review closed in April 2026 but no outcome has been published yet. Here is a practical guide on what Singapore companies should do right now while waiting for ACRA's formal response.
In February 2026, the Accounting and Corporate Regulatory Authority (ACRA) announced that it is reviewing Singapore's audit exemption framework — the first such review since the thresholds were set in 2015. Targeted industry consultations closed on 17 April 2026, and ACRA is expected to publish its response in the second half of 2026. But the [...]
Not every Singapore company is required to have its financial statements audited each year. For thousands of small businesses, the small company audit exemption under the Companies Act 1967 removes the mandatory audit requirement — saving directors significant time and cost without compromising their core compliance obligations. But qualifying is not automatic, and changes may [...]
Not every Singapore company is required to have its financial statements audited each year. For thousands of small businesses, the small company audit exemption under the Companies Act 1967 removes the mandatory audit requirement — saving directors significant time and cost without compromising their core compliance obligations. But qualifying is not automatic, and changes may [...]