Whether you are a startup, an established SME, or a growing mid-sized company in Singapore, understanding your audit obligations is essential. Audit Services by Koh & Lim offer a comprehensive range of solutions that help businesses meet statutory requirements, strengthen financial reporting, and build lasting investor confidence. This guide walks you through everything you need to know.
Overview of Audit Services by Koh & Lim
Koh Lim Audit Firm, also known as Audit firm by Koh & Lim, provides a full spectrum of professional audit and assurance services across Singapore. Their services are designed to serve businesses at every stage — from newly incorporated companies to mature enterprises managing complex financial structures.
Official website: https://kohlimaudit.sg/
Types of Audit Services Offered
1. Statutory Audit
A statutory audit is a legally required examination of a company’s financial records. In Singapore, companies meeting certain thresholds are required by the Companies Act to undergo this process. Koh Lim Audit Firm ensures your statutory audit is conducted with precision and in full compliance with SFRS and ACRA requirements.
Key features of statutory audit by Koh & Lim:
- Independent examination of financial statements
- Verification of balance sheets, P&L statements, and cash flows
- Issuance of a formal auditor’s report
- Full compliance with Singapore legal requirements
2. Internal Audit
Internal audits help businesses evaluate the effectiveness of their risk management, governance, and internal control processes. The Singapore audit services team at Koh & Lim works closely with management to identify weaknesses and recommend actionable improvements.
3. Special Purpose Audits
These are customised audits conducted for a specific purpose — such as verifying the use of government grants, confirming compliance with loan covenants, or supporting business transactions. Koh Lim Audit Firm has extensive experience delivering special purpose audits across various industries.
4. Agreed-Upon Procedures (AUP)
In an AUP engagement, the auditor performs specific procedures agreed upon with the client and reports factual findings. This is ideal for businesses that need targeted financial verification without a full audit.
Step-by-Step Audit Process at Koh & Lim
- Initial consultation and understanding of client needs
- Engagement letter and scope of work agreement
- Planning and risk assessment
- Fieldwork — gathering evidence and testing
- Review and evaluation of findings
- Draft report discussion with management
- Issuance of final auditor’s report
Industries Served by Audit Services by Koh & Lim
| Industry | Type of Audit Commonly Required |
| Retail & E-Commerce | Statutory Audit, Internal Controls Review |
| Food & Beverage | Compliance Audit, Special Purpose Audit |
| Manufacturing | Statutory Audit, Inventory Verification |
| Professional Services | Internal Audit, Agreed-Upon Procedures |
| Construction & Real Estate | Statutory Audit, Project Cost Audit |
| Non-Profit Organisations | Donor Fund Audit, Special Purpose Audit |
Why Choose a Singapore Audit Firm Like Koh & Lim?
When selecting a Singapore audit firm, credentials, industry knowledge, and responsiveness matter. Koh Lim Audit Firm checks all these boxes. Their team is registered with ACRA, experienced across multiple sectors, and committed to delivering timely, high-quality results.
Conclusion
Audit Services by Koh & Lim go beyond mere compliance — they provide businesses with the financial clarity and strategic insights needed for sustainable growth. Whether you need a statutory audit, internal audit, or a specialised engagement, the Koh Lim Audit Firm team is ready to assist. Visit https://kohlimaudit.sg/ to get started today.