Unaudited Financial Statements Plus (UFS+)
We prepare Unaudited Financial Statements in accordance with Singapore Financial Reporting Standards (“SFRS”) or International Financial Reporting Standards (“IFRS”) for companies eligible for audit exemption.
These financial statements include:
- A statement by directors,
- A statement of financial position,
- A statement of profit or loss and other comprehensive income,
- A statement of changes in equity,
- A statement of cash flows, and
- A summary of significant accounting policies and other explanatory information.
These Unaudited Financial Statements are prepared with professional competence and due care, and incorporating value-added procedures, including:
- Financial Position and Performance Analysis
- Key Accounting Matters, if applicable.
Companies eligible for audit exemption can request a professional accountant in public practice to assist with the preparation and presentation of financial information. The value of a compilation engagement, performed in accordance with Singapore Standard on Related Services (SSRS) 4410 Compilation Engagements, results from the practitioner’s professional expertise in accounting, financial reporting, and compliance with professional standards, including relevant ethical requirements. This compilation includes the clear communication of the nature and extent of the practitioner’s involvement with the compiled financial information. It helps companies improve the quality of their financial reporting, reduce the risk of fraud, enhance their credibility, and ensure compliance with regulatory requirements.
A compilation report comprises contents listed in UFS+ and The Practitioner's Report.