In Singapore, all companies are required to appoint an auditor within 3 months of its incorporation unless exempted from an audit. The audit exemptions applies for companies that falls under the “Small Company” or “Small Group” category:

Audit Exemption Criteria

• The company's total revenue does not exceed 10 million SGD.
• The company's total assets for the financial year end does not exceed 10 million SGD.
• The number of full-time employees at the end of the company's financial year does not exceed 50.

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