WZWU & Partners

If you’re a business owner in Singapore, the word audit can feel intimidating. For some, it sounds technical and stressful. For others, it’s just another compliance task that needs to be “gotten over with.” But the truth is, choosing the right audit services in Singapore can make a big difference—not just for compliance, but for how clearly you understand your own business. A good audit should give you peace of mind. A bad one leaves you confused, frustrated, and worried about penalties. This guide is written to help you choose wisely, without jargon, pressure, or sales talk. First Things First: Why the Right Audit Partner Matters An audit isn’t only about numbers on a balance sheet. It’s about trust. Banks rely on audited statements. Investors look at them closely. Regulators expect accuracy. And as a business owner, you need confidence that your finances truly reflect reality. The right audit firm will: Help you stay compliant Explain issues clearly (not scare you) Fl...

Running a business in Singapore is exciting, but let’s be honest—keeping your finances organised is not always easy. Between managing customers, handling operations, and planning growth, bookkeeping often lands at the bottom of the to-do list. But ignoring it can lead to stress, confusion, and unexpected financial issues. So the real question is: Do you need bookkeeping services in Singapore , or can you manage everything on your own? Let’s break it down in simple, human terms so you can make a confident decision.   Why Bookkeeping Matters More Than You Think Bookkeeping isn’t just about recording numbers. It’s about keeping your financial story clean, clear, and ready whenever you need it. Good bookkeeping helps you: Know how much you’re earning Track where your money is going Stay compliant with Singapore’s regulations Spot financial problems early Make confident business decisions When your books are organised, everything else becomes easier—from monthly p...

WZ Wu & Partners is a trusted name offering professional audit services in Singapore , helping businesses ensure financial transparency, compliance, and accuracy. With a team of qualified auditors and deep industry experience, the firm provides reliable auditing solutions tailored to companies of all sizes — from startups and SMEs to corporate entities and MCSTs. Whether your goal is to meet statutory requirements or gain a clearer picture of your company’s financial health, WZ Wu & Partners ensures every audit is conducted with integrity, precision, and transparency. Understanding Audit Services in Singapore Before choosing the right auditor, it’s essential to understand what audit services are and why they’re vital to your business. What Are Audit Services? Audit services involve an independent review of your company’s financial statements, accounts, and internal controls. The goal is to confirm that your financial data is accurate, transparent, and compliant with regul...

When it comes to business compliance in Singapore, one area that continues to draw attention is the GTO audit . For many companies, understanding what this audit involves—and more importantly, what documents are required—can make the difference between smooth compliance and unnecessary stress. At WZWU & Partners, we often see businesses worried not because the process is overly complicated, but because they are unclear about what needs to be prepared in advance. This article will break down the essential documents required for a GTO audit in Singapore in 2025, explain why they matter, and offer some practical tips to stay ahead of the process. What Is a GTO Audit? Before we dive into documents, it’s important to quickly revisit what a GTO audit actually is. GTO stands for “Gross Turnover,” and this audit is primarily aimed at verifying a business’s revenue records to ensure they align with statutory and regulatory requirements. The purpose of a GTO audit in Singapore is straig...

Audits are essential for ensuring financial accuracy, regulatory compliance, and operational efficiency. However, businesses often struggle to understand whether they need   internal audits, external audits, or both. While both serve the purpose of evaluating financial and operational processes, their objectives, scope, and execution differ significantly. This guide breaks down the key differences between internal and external audit services , helping businesses determine which type best suits their needs.   1. What Is an Internal Audit? An internal audit is conducted by a company’s own employees or an outsourced internal audit team. Its primary goal is to improve internal controls, risk management, and operational efficiency. Key Characteristics of Internal Audits: Conducted by in-house or outsourced internal auditors Focuses on process improvement and risk mitigation Ongoing and flexible in scope Reports to management and the board of di...

Running a Management Corporation Strata Title (MCST) comes with many responsibilities — and one of the most important is keeping your finances in order. An MCST audit is not just a legal requirement in Singapore, it’s also essential for ensuring transparency, accountability, and trust among property owners. If your accounts are disorganised, an audit can quickly turn stressful. But with the right preparation, the process can be smooth and straightforward. Here’s how you can get your accounts ready for a stress-free MCST audit.   1. Know What the Audit Covers Before you start preparing, understand what the auditors will be looking at. In most MCST audits, they will review: All income and expense records Bank statements and reconciliations Contracts, invoices, and payment vouchers Sinking fund and management fund accounts Petty cash records Having a clear picture of the audit scope helps you focus on gathering the right documents.   2. Keep Your Financia...

If your business is growing in Singapore, one important compliance milestone is registering for Goods and Services Tax (GST). This indirect tax applies to most goods and services sold locally, and companies meeting the required turnover must register with the Inland Revenue Authority of Singapore (IRAS). Fortunately, the entire registration process can be done online through the MyTax Portal. In this guide, we explain everything you need to know to apply for company GST registration in Singapore online—step-by-step. Understanding GST Registration Requirements GST is currently levied at 9% in Singapore. If your company’s taxable turnover exceeds S$1 million in the past 12 months (retrospective basis) or is expected to exceed that in the next 12 months (prospective basis), GST registration is compulsory. Companies below the threshold can still opt for voluntary GST registration to claim input tax or enhance business credibility. However, voluntary registrants must comply with GST...

Conducting an MCST audit is an essential part of maintaining transparency and financial accountability in strata-titled properties across Singapore. With increased expectations from Management Councils and regulatory authorities, preparing thoroughly for this audit ensures compliance, accuracy, and peace of mind for all stakeholders. This guide will walk you through effective steps to prepare for a hassle-free MCST audit, along with tips for managing a GTO audit where applicable. Understanding MCST and GTO Audits An MCST audit involves an independent examination of the financial accounts of a Management Corporation Strata Title (MCST). It ensures that funds collected for property maintenance, such as the sinking fund and maintenance fund, are used properly and reported accurately, as required under the Building Maintenance and Strata Management Act (BMSMA). A GTO audit, or Gross Turnover Audit, applies to commercial properties or mixed-use developments where tenants pay rent based ...