Singapore has a well-established network of small accounting firms that serve startups, SMEs, and individual clients who need personalised service without the overhead of a Big Four engagement. These firms typically offer bookkeeping, corporate secretarial work, GST filing, and tax compliance under one roof, with fees that reflect the smaller scale of their clients’ needs.
What Small Accounting Firms in Singapore Typically Offer
Most small firms in Singapore are registered with ACRA and hold a Public Accountants licence issued by the Accounting and Corporate Regulatory Authority. Their core services usually include:
- Bookkeeping and accounts preparation: Monthly or quarterly management accounts for SMEs and sole traders.
- Corporate tax (Form C-S/C): Filing with IRAS, including estimated chargeable income submissions.
- GST registration and returns: Quarterly filing for businesses above the S$1 million revenue threshold, or voluntary registrants.
- Corporate secretarial services: Annual general meetings, ACRA filing, and maintenance of statutory registers.
- Payroll processing: CPF submissions, IR8A forms, and leave management.
Fees for small firm engagements typically start around S$800 to S$1,500 per year for basic bookkeeping and corporate secretarial work combined, scaling up depending on transaction volume and complexity.
Well-Known Small Accounting Firms in Singapore
Several firms are frequently cited by local business owners and on ACRA’s directory of registered firms:
- Adept Public Accounting Corporation: A boutique practice based in Toa Payoh, handling audit, tax, and advisory for SMEs.
- Pinnacle Accounting and Management: Focuses on startup-friendly packages covering incorporation, bookkeeping, and GST.
- CLA Global TS: A mid-to-small firm with a strong presence among family businesses and foreign-owned Singapore entities.
- Raffles PAC: Offers audit and assurance alongside accounting support for companies with statutory audit requirements.
- Asiabiz Services: Popular with foreign entrepreneurs setting up in Singapore, covering secretarial, accounting, and immigration-related services.
For a full list of registered public accountants and accounting entities, ACRA’s online directory at acra.gov.sg is the authoritative source.
How to Choose the Right Small Firm
Check that the firm or its directors hold a valid practising certificate from the Institute of Singapore Chartered Accountants (ISCA). Ask specifically whether the person handling your account is a qualified accountant or a bookkeeper, as this affects the quality of tax advice you receive. Responsiveness matters more at small firms, where you may deal with a single point of contact. Request a written fee schedule before signing any engagement letter, and clarify whether GST, out-of-pocket expenses, and XBRL filing costs are included or billed separately.
Frequently Asked Questions
Do small accounting firms in Singapore handle XBRL filing?
Most do, though some charge separately for it. Companies with revenue above S$500,000 are required to file financial statements in XBRL format with ACRA. Confirm this is included in your quoted fee before signing an engagement.
Is a small firm able to conduct a statutory audit?
Only if the firm holds a Public Accountants licence from ACRA and the individual signing the audit report is a registered Public Accountant. Not all small accounting firms are licensed for audit work, so verify this directly if your company is not exempt from statutory audit under the Companies Act.
What is the typical cost of hiring a small accounting firm in Singapore?
Basic packages covering corporate secretarial, bookkeeping, and annual tax filing typically range from S$1,200 to S$3,500 per year for a small company with modest transaction volumes. Audit engagements start at around S$3,000 to S$5,000 for smaller entities.
