Filing a timely and accurate ACRA annual return is a critical compliance task for every Singapore based company, and the company secretary plays a central role in this process. More than just an administrative duty, this filing reflects a company’s financial health and adherence to corporate governance standards. A diligent company secretary ensures every detail is meticulously reviewed and verified before submission.
The Verification and Compilation Process
Behind the scenes, the company secretary coordinates with directors and accountants to gather all necessary information. This includes verifying the company’s financial statements, ensuring they are prepared in accordance with Singapore Financial Reporting Standards, and confirming the details of company officers and shareholders.
Did you know that ACRA can impose penalties for late filings, starting from $300 and increasing over time? This makes the secretary’s role in managing deadlines and ensuring accuracy vital for avoiding financial penalties and maintaining a clean compliance record, which is key when filing annual returns with ACRA.
Ensuring Compliance Beyond Filing
A company secretary’s responsibility extends beyond just submitting the forms; they ensure the entire process is compliant from start to finish. They are responsible for preparing the resolutions for the Annual General Meeting (AGM) and confirming that the board has properly approved the financial statements.
This meticulous oversight guarantees that the information filed with ACRA is accurate and legally sound. This process often works with professional tax accounting services to ensure all financial data aligns across different regulatory requirements, safeguarding the company’s integrity.
Partner with the Experts
Navigating the complexities of annual returns requires precision and expertise. Let our dedicated team manage your corporate secretarial duties, ensuring your filings are always compliant, accurate, and timely.
