Choosing an audit firm in Singapore should start with a question most SMEs never ask: do you actually need a statutory audit at all? Since the small-company exemption, most private companies do not, so the real decision is not which Big Four firm, but which ACRA-registered accountant fits your size and budget if you do need one.
A private company is exempt from a statutory audit if it qualifies as a small company, meeting at least two of three thresholds over the past two financial years: revenue up to S$10 million, total assets up to S$10 million, and up to 50 employees. If you are above that, or a group, or you need audited accounts for a bank, investor or tender, then you engage a firm, and only an ACRA-registered public accountant can legally sign the audit. I will explain the exemption and how to choose, then give you my picks.
This is part of my Terris Recommends Business Services series. It pairs with my guides to company incorporation and corporate secretarial services.
Key Takeaways
- 1 First, check whether you even need an audit. A private company is exempt if it is a small company, meeting at least two of three tests over the past two years: revenue up to S$10m, total assets up to S$10m, and up to 50 employees.
- 2 Only an ACRA-registered public accountant, signing through an ACRA-registered firm, can perform a valid statutory audit. Always ask for the signing accountant and verify on ACRA.
- 3 Match the firm to your size: Big Four for listed and complex, mid-tier for established SMEs, groups and IPO plans, and boutique for owner-managed SMEs wanting lower fees.
- 4 RSM and BDO are my mid-tier picks, and Ackenting, Precursor and Koh & Lim are the SME-friendly boutiques.
- 5 Rough fees: boutique S$1,500 to S$5,000, mid-tier S$5,000 to S$15,000, Big Four S$15,000 and up.
What I look for in an audit firm
Beyond the brand, here is what actually matters when you choose an auditor.
- Do you need one. First confirm whether you are exempt as a small company. If you are, you may not need a statutory audit at all, though you still prepare financial statements and file your annual return and tax.
- ACRA-registered public accountant. A valid statutory audit can only be signed by an ACRA-registered public accountant through a registered firm. Ask for the signing accountant's name and verify it on the ACRA register.
- The right tier for your size. A small owner-managed company does not need a Big Four firm. Boutiques offer lower fees and direct partner attention, mid-tier firms suit established SMEs and groups or an IPO plan, and the Big Four are for listed and complex entities.
- Industry and niche experience. Some audits are specialised, such as a gross-turnover, charity or management-corporation audit. Choose a firm that knows your kind of engagement.
- Fees and timeline. Ask for a clear fee quote and a realistic timeline, and understand what drives the cost, mainly your transaction volume, complexity and the state of your records.
One tip: good, clean bookkeeping through the year is the single biggest thing that keeps your audit fee down and your audit smooth.
How the best audit firms in Singapore compare
| Firm | Tier | Best for |
|---|---|---|
| RSM Singapore | Mid-tier | Established SMEs and groups |
| BDO | Mid-tier | Growing and listed companies |
| Baker Tilly | Mid-tier | IPO aspirants |
| Forvis Mazars | Mid-tier | European-linked MNCs |
| Crowe | Mid-tier | International clients |
| Foo Kon Tan | Mid-tier | Risk-based audits |
| Paul Wan & Co | Mid-tier | SMEs to listed groups |
| Ackenting Group | Boutique | SMEs wanting fast turnaround |
| Precursor | Boutique | Pure-play SME audit |
| Koh & Lim | Boutique | Affordable and niche audits |
| Bestar | Boutique | Fixed-fee SME audit |
How much does a statutory audit cost in Singapore?
Fees track the firm tier and your complexity. Here is what to expect in 2026.
| Firm type | Typical audit fee | Best for |
|---|---|---|
| Boutique / SME firm | Around S$1,500 to S$5,000 | Owner-managed SMEs |
| Mid-tier firm | Around S$5,000 to S$15,000 | Established SMEs, groups, IPO track |
| Big Four | S$15,000 and up | Listed, complex, fundraising |
The main cost drivers are your transaction volume, group structure and how clean your records are, not just the firm's name. A boutique firm can audit a straightforward SME perfectly well and for far less than a Big Four firm, so match the tier to your actual needs.
1. RSM Singapore
RSM is my mid-tier pick for established SMEs and groups. It is the largest firm outside the Big Four here, so it offers Big-Four-comparable audit quality with mid-market fees, and it is a strong fit for family businesses, growing private companies, smaller listed entities and cross-border ASEAN work.
That scale and international network without the top-tier price make it a sensible default for a company that has outgrown a small boutique. For an established SME or group, it is where I would start.

Website: rsm.global
Tier: Mid-tier
ACRA registered: Yes, registered public accounting entity
Best known for: The largest non-Big-Four firm, at mid-market fees
2. BDO
BDO is my pick for a growing or newly listed company. Often called Singapore's leading mid-tier firm, it delivers audit quality comparable to the Big Four for SGX-listed and fast-growing private companies, with a clean regulatory track record.
For a business scaling towards a listing or that needs the credibility of a well-known mid-tier auditor for investors and banks, BDO is a strong, recognised choice. It is a natural step up from a boutique.

Website: bdo.com.sg
Tier: Mid-tier
ACRA registered: Yes
Best known for: A leading mid-tier firm for growing and listed companies
Contact BDO directly
3. Baker Tilly
Baker Tilly is my pick for IPO aspirants. A top-ten firm here, it is a well-known choice for companies preparing to list, with strong capital-markets and IPO experience alongside its assurance and advisory work, plus a solid reputation in valuation and litigation support.
For a company on a growth-to-listing path that wants an auditor comfortable with that journey, it is a strong choice. It brings the credibility a listing process needs.

Website: bakertilly.sg
Tier: Mid-tier
ACRA registered: Yes
Best known for: Capital markets and IPO-track audits
4. Forvis Mazars
Forvis Mazars, formerly Mazars, is my pick for European-linked businesses. As a single integrated global network, it is particularly strong with European MNCs and fast-growing Asian startups, so if your company has European ownership or reporting needs, the cross-border alignment is valuable.
The global brand and integrated model bring consistency across jurisdictions. For a business with international, especially European, connections, it is a strong mid-tier choice.

Website: forvismazars.com
Tier: Mid-tier
ACRA registered: Yes
Best known for: European-linked MNCs and growing startups
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5. Crowe
Crowe is my pick for an internationally connected mid-tier audit. A member of one of the larger global accounting networks, Crowe Singapore serves public-listed entities, MNCs and financial institutions, bringing international standards with a mid-tier fee profile.
For a company with cross-border operations or international stakeholders that wants a recognised network firm, it is a credible choice. It sits comfortably between boutique and Big Four.

Website: crowe.com
Tier: Mid-tier
ACRA registered: Yes
Best known for: Internationally connected mid-tier audits
6. Foo Kon Tan
Foo Kon Tan is my pick for a risk-based approach from an established name. Founded in 1968, it is one of the oldest practices here, part of the HLB global network, and it positions its audits as cost-effective and risk-based, focusing effort where it matters.
That heritage and global reach, combined with a practical audit philosophy, suit an established SME or mid-sized group. For a long-standing firm with a sensible, focused approach, it is a strong choice.

Website: fookontan.com
Tier: Mid-tier
ACRA registered: Yes
Best known for: Cost-effective, risk-based audits since 1968
Contact Foo Kon Tan directly
7. Paul Wan & Co
Paul Wan & Co, or PWCO, is my pick for a firm spanning SMEs to listed groups. Part of the Morison Global network with 40-plus years of history, it audits both listed and non-listed companies and offers IPO advisory, ESG and even blockchain and crypto assurance.
Its founder's global network leadership signals real international standing. For a company that wants a mid-tier firm comfortable across the size spectrum and newer asset classes, it is a strong choice.

Website: pwco.com.sg
Tier: Mid-tier
ACRA registered: Yes
Best known for: Audits from SMEs to listed groups
8. Ackenting Group
Ackenting Group is my pick for an SME that wants speed and strong reviews. A boutique, SME-first firm, it holds one of the best review records of any auditor here and markets a fast, KPI-driven audit turnaround, alongside accounting, tax and secretarial services.
For an owner-managed SME that wants direct attention, a quick turnaround and a well-reviewed firm at a sensible fee, it is a strong choice. It is a good example of a boutique doing SME audit well.

Website: ag-singapore.com
Tier: Boutique, SME-focused
Google Rating: Strongly rated across 250+ reviews
Best known for: A well-reviewed SME audit with fast turnaround
Contact Ackenting Group directly
9. Precursor
Precursor is my pick for a pure-play SME audit house. It is a dedicated audit and assurance firm for SMEs, giving you focused audit expertise without the overhead of a Big Four or large mid-tier firm, backed by ISCA membership, Singapore Quality Class certification and industry awards.
Being part of a broader group, it can also handle tax, corporate secretarial and fund compliance. For an SME that wants a specialist, award-recognised auditor at boutique pricing, it is a strong choice.

Website: precursor.com.sg
Tier: Boutique
ACRA registered: Yes
Best known for: A dedicated SME audit and assurance house
Contact Precursor directly
10. Koh & Lim Audit
Koh & Lim is my pick for an affordable audit with useful niches. A boutique public accounting corporation, it markets affordable SME audits and a fast response, and it handles specialised engagements like gross-turnover, charity, management-corporation and group audits that some firms shy away from.
That niche capability at a boutique price point is genuinely valuable if your audit is one of those specific types. For an SME or an organisation needing a specialised, cost-effective audit, it is a strong choice.

Website: kohlimaudit.sg
Tier: Boutique
ACRA registered: Yes, public accounting corporation
Best known for: Affordable SME and niche audits
Contact Koh & Lim Audit directly
11. Bestar
Bestar rounds out the list as a fixed-fee SME auditor. It offers statutory audits with transparent fixed fees from around S$2,800 for active SMEs, alongside accounting, tax and incorporation, and it markets a data-analytics approach that tests full populations rather than samples.
For a small business that wants a predictable audit fee and a modern, analytics-led method, it is a practical choice. The fixed-fee clarity is a real plus for budgeting.

Website: bestar-sg.com
Tier: Boutique
ACRA registered: Yes
Best known for: Fixed-fee SME audits with data analytics
How I put this list together
I focused on firms an SME would realistically engage, so I leaned towards mid-tier and boutique practices rather than only the Big Four, and I checked that each is an ACRA-registered firm able to sign statutory audits. I spread the list across tiers so you can match the firm to your size, complexity and budget.
Details are checked when I publish and revisited as things change. Always confirm the signing public accountant, verify the firm on ACRA, and get a clear fee quote and timeline before you appoint an auditor.
Does my Singapore company need to be audited?
Not necessarily. A private company is exempt from a statutory audit if it qualifies as a small company, which means meeting at least two of three criteria in each of the past two financial years: annual revenue of S$10 million or less, total assets of S$10 million or less, and 50 or fewer employees. For a group, the test is applied on a consolidated basis. If you qualify, you are exempt from the audit itself, though you still prepare financial statements, hold your AGM, and file your annual return and tax. Many small companies choose an audit anyway for banks, investors or tenders.
Who can legally sign a statutory audit in Singapore?
Only an ACRA-registered public accountant, signing through an ACRA-registered accounting entity, can perform and sign a valid statutory audit in Singapore. An audit signed by anyone who is not a registered public accountant is not a valid statutory audit, regardless of how it is presented. So before appointing a firm, ask for the name of the public accountant who will sign your audit and verify both the individual and the firm on the ACRA register. This is a simple, important check that protects you.
What is the difference between the Big Four and mid-tier audit firms?
The Big Four are the four largest global accounting networks, and they audit most listed companies, large corporates and complex or high-profile entities, at premium fees. Mid-tier firms, like RSM, BDO and Baker Tilly, offer audit quality that is comparable for most purposes at noticeably lower fees, and they are well suited to established SMEs, groups and companies heading towards a listing. Boutique firms serve smaller, owner-managed businesses with direct partner attention and the lowest fees. For most SMEs, a mid-tier or boutique firm is the right fit, and a Big Four firm is unnecessary unless you are listed or complex.
What are the small company audit exemption criteria in Singapore?
A private company qualifies for audit exemption as a small company if, for the immediate past two consecutive financial years, it meets at least two of these three thresholds: total annual revenue of not more than S$10 million, total assets of not more than S$10 million, and not more than 50 employees. A newly incorporated company can qualify based on its first year. If the company is part of a group, the whole group must also qualify as a small group on a consolidated basis. The framework applies to financial years beginning on or after 1 July 2015. The exemption removes only the audit requirement, not the duty to prepare financial statements and file returns.
The best audit firm in Singapore for you starts with whether you even need an audit, then matching the tier to your size. RSM and BDO are my mid-tier picks for established SMEs and growing companies, while Ackenting, Precursor and Koh & Lim are excellent boutiques for owner-managed businesses. Whichever you choose, confirm the signing public accountant is ACRA-registered and get a clear fee quote.
A good auditor at the right tier gives you credible accounts without overpaying, and keeps you compliant with the least fuss.
If you run an accounting or professional-services firm and your website is not bringing in enquiries, that is what I do. I design websites for businesses across Singapore. Get in touch for a free consultation.
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Terris
Chief Recommender · I do the digging so you don't have to
Terris is a Singapore-based web designer and digital strategist who has spent 8+ years building websites for local businesses. His Terris Recommends series shares personal picks for the best service providers across Singapore, informed by his experience working with businesses across industries.
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