INSIGHTS & RESOURCES
Preparing for an audit in Singapore: organise the first information request
Assembly Works · 30 September 2026
Audit preparation begins by clarifying the entity, reporting period, purpose and required deliverable. An organised set of records gives the auditor a clearer starting point, but it does not guarantee a particular opinion or eliminate further questions.
Clarify the engagement before collecting everything
Explain who needs the report and why. Share the relevant request, agreement or reporting instructions where available. A financial-statement audit, a specific reporting requirement and an agreed-upon procedures engagement should not be treated as interchangeable services.
Confirm the entity or entities involved, financial year end, reporting framework to be considered and any external deadline. If the requirement is unclear, resolve it during scoping rather than selecting a service solely by its label.
Prepare an index of available records
The auditor will determine the information required for the engagement. The following is a practical starting point for a discussion, not an exhaustive audit programme:
| Area | Examples to identify and organise |
|---|---|
| Accounting records | Trial balance, ledger, draft financial statements and adjustment history |
| Cash and financing | Bank reconciliations, statements, loan schedules and agreements |
| Sales and purchases | Supporting invoices, credit notes and outstanding balances |
| Assets and inventory | Relevant schedules, count records and supporting documents |
| People and related parties | Payroll summaries, related-party balances and significant transactions |
| Governance and commitments | Relevant minutes, contracts and information about significant changes |
Use consistent period labels and keep supporting schedules traceable to the accounting records. If a schedule does not agree to the ledger, record the difference and the person investigating it.
Identify unfinished work early
List missing documents, unreconciled balances, unresolved accounting questions and information held by another party. Explain whether the issue affects one transaction or a wider period. This helps the team distinguish available evidence from work that still needs preparation.
Avoid silently replacing a file after it has been shared. Use dated versions and explain material changes so reviewers can identify the current information without losing the history of earlier questions.
Assign a coordinator and realistic response dates
Nominate someone who can route questions to finance, management and other record owners. Maintain a request list with an owner, status and expected response date. Where a third party holds information, identify the dependency early.
Discuss the timetable with the auditor after explaining the state of the records. A desired completion date is useful context; it is not evidence that the work can be completed by that date.
Keep preparation and independent assessment distinct
Preparing records and deciding an audit conclusion are different responsibilities. Ask the audit team to assess any applicable independence requirements before assuming it can also prepare your accounts. Raise any existing service relationships during scoping.
Assembly Assurance PAC provides audit and assurance services. Its service scope excludes listed companies but can include listed-company subsidiaries, subject to engagement assessment. See our audit services and contact us with the entity, reporting period and purpose of your request.