BUSINESS INSIGHT FOR YOU
AUDIT SERVICES
Discover if Your Company Qualifies as Small:
Is your company striving to understand its eligibility for certain regulatory exemptions, according to the Accounting and Corporate Regulatory Authority (ACRA) in Singapore? Let’s simplify. Here’s what you need to know:
Qualifying as a Small Company:
Your company qualifies as a small company if:
(a) It operates as a private company during the current financial year.
(b) It satisfies at least two of the three criteria over the past two consecutive financial years:
Maintaining Small Company Status:
Once your company qualifies as a small company, it retains this status for subsequent financial years until it is disqualified. Disqualification occurs if:
(a) It ceases to function as a private company at any point during a financial year.
(b) It fails to meet at least two of the three quantitative criteria for the immediate past two consecutive financial years.
Consistent Small Group Status:
Similarly, a group retains its status as a small group for subsequent financial years as long as it meets at least two of the three quantitative criteria for the immediate past two consecutive financial years.
