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Key Updates
SW Asia Pte. Ltd.

Internal audit services

We work with management and audit committees of companies, to manage their business risks through the review, testing and analysis of their business processes and the internal controls. We identify the key business risks of our clients, through their perspectives, whilst taking an independent view on the issues in delivering our internal audit services to our clients. Sinowealth’s professionals are committed to add value, through our recommendations to our clients to help them better manage their business risks by adding rigor and strength to our clients’ business processes and controls.

Our range of internal audit services includes:
  • Conducting on-site internal audit reviews on companies’ internal control environments and business processes, including providing advice to clients on internal control and business process improvements
  • Identifying possible gaps and areas for improvement in relation to companies’ controls and procedures with respect to the various Securities and Futures Act regulations relevant to licensed fund management companies.
Compliance services

Sinowealth’s professionals are committed to assist our clients to comply with regulatory requirements. We help our clients develop effective regulatory compliance programs and partner with management of companies to help our clients comply with various regulatory requirements, respond to situations of noncompliance and seek to continuously improve our clients’ regulatory compliance procedures and processes. Our range of compliance services includes:

  • Conducting quarterly compliance reviews to assess companies’ compliance with applicable requirements under the Securities and Futures Act (“SFA”) and its applicable regulations, including the Monetary Authority of Singapore (MAS)’s notices and guidelines relevant to licensed fund management companies.
  • Assisting companies in conducting compliance related review work in respect of client on boarding checks (under MAS Notice SFA 04-N02) for new (prior to onboarding) and existing clients on an annual basis.
  • Identifying possible gaps and areas for improvement in relation to companies’ controls and procedures with respect to regulatory compliance with the SFA’s and MAS’s requirements relevant to licensed fund management companies.


Sinowealth Corporate Services Pte. Ltd.

XBRL Financial Statements Preparation Service

With effect from 1 November 2007, Singapore incorporated companies are required to file their financial statements in eXtensible Business Reporting Language (XBRL) format as part of their annual returns filings. Recently, the Accounting and Corporate Regulatory Authority (ACRA) announced that with effect from 3 March 2014, Singapore incorporated companies (unless exempted) will be required to file a full set of financial statements in XBRL.

For more information on the requirements to file financial statements in XBRL format and the affected scope of companies affected, please kindly refer to the ACRA website:

http://www.acra.gov.sg/XBRL

How can Sinowealth assist the directors in fulfilling their statutory responsibilities?

At Sinowealth, we are committed to provide our clients with confidence and trust in the quality of the XBRL financial statements prepared. XBRL financial statements preparation is invariably a time-consuming process. Outsourcing this process to Sinowealth will provide companies with assurance in complying with the statutory requirements due to our expertise in this area.

We believe that getting the figures accurate in XBRL financial statements is imperative to the directors and not something deemed as another accounting function. Amongst the value-added services Sinowealth provide, we would provide advice to the companies on other appropriate annual return filing issues to ACRA.

If you need our assistance on XBRL financial statements preparation, please feel free to contact us or email us at admin@sinowealth.com.sg