Unaudited Financial Statements (UFS)

Singapore is an investor’s paradise! The country’s Political, Economical, Social, Technological, Environmental and Legal (PESTEL) system ensures that Singapore remains as the top country for best business practices. As a result, investor confidence has grown, with local and Foreign Direct Investments (FDI)  flowing into the country.

 

All incorporated companies must prepare and file with statutory boards Unaudited Financial Statements every year that follow Singapore Financial Reporting Standards (SFRSs). These statements cover:

 

• Statement of Profit or Loss and Other Comprehensive Income

• Statement of Financial Position

• Statement of Changes in Equity

• Statement of Cash Flows

• Notes to the Financial Statements and

• Directors’ Statement

 

Navon Consulting provides the performance of the above responsibilities, ensuring that financial reporting is purposeful and compliant. The Conceptual Framework for Financial Reporting requires financial statements to be prepared on the basis that they comply with certain accounting concepts, underlying assumptions and qualitative characteristics that encompasses

 

• Relevance

• Reliability

• Materiality

• Completeness

• Comparability

• Understandability and

• Timeliness

 

We ensure that the financial reporting through UFS meets the above criteria.