Financial Statement Audits

While the corporate failures of the past few years have stimulated debate about what went wrong and who was to blame, what's not up for debate is that there is more scrutiny and skepticism of a financial institution's financial statements than ever before. Investors have lost faith in corporate governance and reporting and they expect more: greater reliability, more oversight and clear evidence of internal controls.

Corporate management, boards and audit committees, internal and external auditors, regulators, analysts and other investment professionals all have important roles to play in rebuilding investor trust by executing their respective responsibilities, keeping in mind both legal obligations and the heightened expectations of investors. Meeting investor expectations begins with the completeness and accuracy of information contained in a financial institution's financial statements.

If this is your situation

  • You are a regulated financial institution, and must file audited financial statements, and associated returns
  • You are in the process of exploring the feasibility of changing audit firms
  • You want your current audit firm to concentrate on providing non-audit services to your firm and you need to engage a new auditor
  • You are concerned that your current auditor does not sufficiently understand your company and industry to perform an effective audit

How PwC can help you

For regulated financial institutions in Singapore, PwC can provide high quality audit services. We can also address specific regulatory reporting requirements such as the various requirements of regulators, as well as those under Sarbanes-Oxley S404 for SEC registrants.

PwC's work takes into account all current and where appropriate, prospective auditing, accounting, and regulatory reporting requirements and guidance. Our audit clients include many of the world's leading financial institutions.

  • Compliance with regulations
  • Advice on controls and processing system weaknesses
  • Confirmation of accounting treatments with respect to complex transactions
  • Increased monitoring of prospective accounting and regulatory changes
  • Independent review of externally reported information
  • Accountants' reports.