Small companies in Singapore do not have to be audited. Small companies are defined as private limited companies which have

  • less than S$10 million worth of total annual revenue,
  • less than S$10 million worth of total assets over a specific financial year, and
  • fewer than 50 employees at the conclusion of a specific financial year.

Companies which are part of group companies are also exempt if the entire group fulfils a minimum of two of the preceding criteria and has done so over the immediately preceding two financial years.