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 [...]
The Singapore Companies Act states that every company, including a private company, must have its financial statements and accounting records audited at least once every year. Only companies which fulfill the criteria for audit exemptions do not have to be audited.
Only the Singapore-based companies which have fulfilled the criteria for audit exemptions are allowed to remain unaudited. This is also true of all foreign companies based in Singapore.
Yes, the submission of filing your annual financial statements is mandatory even if your company is exempted from audit. However, they do not need to be officially audited.
