Small business owners often think financial reports are only for companies that need an audit. Because of this, many assume that being audit-exempt means they can skip formal paperwork. However, this is a common mistake. Even if your revenue is low, Singapore law still requires you to keep a statutory financial report. Consequently, staying compliant means you need a professional non-audited financial report.

What Is a Non-Audited Financial Report?

A non-audited financial report is a “Compilation of Accounts” prepared by professionals. These documents follow the Singapore Financial Reporting Standards (SFRS) but do not require an external audit.

Specifically, this service helps:

  • Small private companies.

  • New startups.

  • Dormant or low-income firms.

  • Anyone filing Annual Returns or taxes.

In short, a compilation focuses on legal structure and accuracy without the high cost of a full audit.

Why Your Company Still Needs a Statutory Financial Report

Even if you are exempt from an audit, you are not exempt from proper accounting. Furthermore, these reports are vital for three main reasons:

  • ACRA Annual Return Filing: ACRA does not accept internal spreadsheets or simple management summaries. Instead, your financial statements must follow a recognized structure and reporting standard.
  • IRAS Corporate Income Tax Filing: Your ECI and Form C / C-S submissions must be supported by formal statements. Without these, you risk tax filing errors and penalties.
  • Director Responsibilities: Directors are legally responsible for the company’s financial position. Therefore, they must ensure that statements present a “true and fair” view of the business to avoid legal liabilities.

Why Professional Reports Beat Spreadsheets

Many SMEs use Excel or basic software for their bookkeeping. Although these tools are useful for daily operations, they are usually not enough for statutory purposes. In fact, common issues with DIY reports include:

  • Non-compliance with SFRS rules.

  • Missing mandatory disclosures.

  • Incorrectly labeled assets or expenses.

A professional non-audited financial report resolves these problems. It converts your raw data into a compliant, defensible document.

What’s Included in a Non-Audited Financial Report?

At Acrafile, our services provide a complete Compilation of Accounts. In addition to satisfying ACRA, these reports help you make better internal decisions. We prepare the four essential statements:

  • Balance Sheet: Shows your assets, debt, and equity at year-end.

  • Profit & Loss Statement: Summarizes your income and expenses.

  • Cash Flow Statement: Details how money moves in and out of the business.

  • Statement of Changes in Equity: Tracks share capital and earnings.

Moreover, we include the Mandatory Notes to the Financial Statements (NTAs). These notes are required by law. They explain your accounting policies and any legal risks or future commitments.

Real Business Value for Your SME

Compliance is a must, but professional accounts also offer real value. For instance, they provide:

  • Better Decision-Making: You will finally understand your true profit trends and cost structures.

  • Higher Credibility: Banks and investors prefer professional reports over messy spreadsheets.

  • Lower Costs: You get the benefits of a formal report without the high price of a full audit.

Who Needs Non-Audited Financial Report Services in Singapore?

You likely need this service if:

  • Your company is audit-exempt

  • You are filing Annual Returns with ACRA

  • You are submitting ECI or Form C/C-S to IRAS

  • You are applying for loans, grants, or financing

  • You want compliant, clean, and defensible accounts

Professional Quality Without the Audit Burden

It is important to remember that “non-audited” does not mean “unprofessional.” On the contrary, a professionally compiled report carries significant weight. While you may not need the high cost of a full audit, you still require:

  1. Full SFRS Compliance: To ensure your accounts meet national standards.

  2. Proper Documentation: To keep your corporate records organized.

  3. Financial Clarity: To help you understand where your money is going.

  4. Lower Risk: To protect your directors from late filing penalties.

By choosing a professional compilation, you get all the clarity of an audit without the unnecessary complexity.

Why Choose Acrafile?

Acrafile specializes in helping Singapore companies meet statutory requirements without overcomplicating the process.

  • SFRS-compliant compilation of accounts

  • Efficient turnaround

  • Practical, business-focused approach

  • Cost-effective alternative to audits

Whether you’re a startup or an established SME, Acrafile ensures your financial reports are correct, compliant, and credible. Contact us now for free consultation!