Unveiling the Top-ranking Singapore Audit Firms in 2020: An Overview of the Best Accounting Services in the City-state

Find out the top audit firms in Singapore for 2020. Explore rankings, expertise, and services offered by these leading firms.

Are you curious about which audit firm is considered the best in Singapore? Look no further than the Singapore Audit Firm Ranking 2020. This highly anticipated annual ranking is a reflection of the industry's performance and reputation, and is sure to provide valuable insights to those interested in audit firms in Singapore.

According to the Singapore Audit Firm Ranking 2020, PwC Singapore has come out on top as the number one firm. With a total of 303 clients, including many large multinational corporations, PwC Singapore has cemented their reputation as the leading audit firm in the country. But what sets them apart from their competitors?

One defining quality of PwC Singapore is their commitment to innovation. They have implemented cutting-edge technologies and methodologies to streamline their processes and improve the quality of their services. Additionally, PwC Singapore has invested significantly in their staff to ensure they are well-equipped to handle any challenge.

Another firm that has seen significant success in the ranking is KPMG Singapore. KPMG Singapore ranks second in the Singapore Audit Firm Ranking 2020 with 255 clients. They are known for their expertise in the financial sector and their ability to provide top-notch advisory services to clients. What sets them apart from their competitors?

KPMG Singapore is known for their diverse and inclusive workplace culture. Their employees come from a variety of backgrounds and bring unique perspectives to the table. This has enabled them to provide more personalized and customized services to their clients.

The Singapore Audit Firm Ranking 2020 also includes a variety of other firms, such as EY Singapore and Deloitte Singapore. These firms have also made significant strides in the industry and should not be overlooked.

But why is the Singapore Audit Firm Ranking 2020 so important? It provides valuable information for businesses and individuals looking for reputable and reliable audit firms in the country. By ranking the top firms, it allows clients to make more informed decisions when choosing an audit firm.

Additionally, the Singapore Audit Firm Ranking 2020 enables firms to identify areas where they can improve and compete with their peers effectively. It also sets a benchmark for the industry and encourages healthy competition among audit firms in the country.

So, if you're looking for the best audit firm in Singapore, be sure to check out the Singapore Audit Firm Ranking 2020. It's a valuable resource that can help guide you towards making the right decision for your business or personal needs.

In conclusion, the Singapore Audit Firm Ranking 2020 provides readers with crucial insights into the industry's performance and reputation while helping them make informed decisions. Whether you're a business owner or an individual looking for a reputable audit firm, this ranking is a valuable resource worth exploring. So go ahead and take a look – you won't be disappointed!

Singapore Audit Firm Ranking 2020

Singapore is one of the business capitals of the world, with a vibrant economy and a thriving business sector. With many businesses operating in Singapore, building trust and credibility with their stakeholders is of utmost importance. This is where audit firms come in, providing independent verification of financial statements to ensure accuracy and compliance with regulations.

The Rankings

The annual rankings of Singapore audit firms are closely watched by businesses and investors alike, providing insights into the performance and reputation of the various firms. In the recently released Singapore Audit Firm Ranking 2020, several firms stood out.

Top 5 Firms

The top five firms in the ranking were PwC, Ernst & Young, Deloitte, KPMG, and BDO. PwC retained its top spot again this year, continuing its streak of nine years as the top-ranked firm.

Ernst & Young also maintained its second place position from the previous year, while Deloitte moved up one spot to third place. KPMG fell one spot to fourth place, and BDO entered the top five for the first time in fifth place.

Metric Evaluation

The ranking was based on several metrics, including revenue, number of clients, number of partners, and portfolio size. The ranking also took into account reputation and market perception, with a survey sent out to industry experts and clients.

PwC dominated in several areas, such as revenue and number of clients, while Ernst & Young excelled in reputation and client satisfaction. Deloitte had a large portfolio size, and KPMG had a high number of partners.

Rising Firms

While the top five firms have remained relatively stable over the years, several firms outside of the top five have been rising in the ranks. RSM moved up to sixth place from seventh the previous year, while Grant Thornton jumped from twelfth place to eighth place.

New entrants into the top 20 included Crowe Horwath First Trust LLP, which moved up from twenty-first place to sixteenth place. Nexia TS also entered the top 20 for the first time in eighteenth place.

Implications for Businesses

The results of the Singapore audit firm ranking can have significant implications for businesses operating in Singapore. For instance, businesses may choose to engage with the top-ranked firms for their audit needs, as they may perceive these firms to have greater credibility and expertise.

Furthermore, businesses may pay attention to the rise of other firms in the rankings, as this may indicate a change in the market and provide more options for audit services.

Conclusion

The Singapore Audit Firm Ranking 2020 provides valuable insights into the performance and reputation of the various audit firms operating in Singapore. While the top five firms remain relatively stable, several rising firms are worth watching. The rankings also demonstrate the importance of independent verification and credibility in the business sector, and businesses should carefully consider which audit firm to engage with based on their needs.

Introduction

Singapore is a bustling city-state that serves as a financial hub for Southeast Asia. As such, there are several audit firms in Singapore catering to both domestic and international clients. To better understand the market, it is essential to look at the Singapore Audit Firm Ranking 2020.

Overview of the Ranking

The ranking of Singaporean audit firms is conducted annually by the International Accounting Bulletin (IAB). IAB is a leading publication in the accounting industry. The ranking is based on revenue generated during the financial year ending 31 December 2019.

The Top Three Firms

The Big Four dominate the top three spots. PwC took the top spot with a revenue of SGD 472.2 million, followed by Deloitte and EY with revenues of SGD 473.8 million and SGD 291.5 million, respectively. KPMG was in fourth place with a revenue of SGD 259.7 million.

PwC

PwC retained its top position, thanks to a strong performance across all its service lines, including assurance, tax, and advisory. The firm continued to invest in technology, which helped it improve its delivery process and enhance customer experience.

Deloitte

Deloitte came in second place and marked a successful year despite a challenging economic environment. The company's performance was driven by growth across all its business lines, including audit and assurance, consulting, risk, financial advisory, and legal. Deloitte also invested heavily in technology, which helped it improve efficiency and reduce errors.

EY

EY experienced a slight decline in revenue but still managed to hold on to its third-place ranking. Despite the dip, EY made strides in innovation by partnering with fintech startups to offer new services to clients. The firm also focused on building partnerships with government agencies.

The Other Firms on the List

The ranking included several other firms, with BDO and RSM coming in fifth and sixth place, respectively. Nexia TS and Baker Tilly TFW were in seventh and eighth place, followed by Moore Stephens LLP and Crowe Horwath First Trust LLP.

BDO

BDO's revenue grew by 5% in 2019, driven by strong performances in its tax, advisory, and outsourcing services. The company's focus on expanding its client base across different sectors helped it maintain its position in the ranking.

RSM

RSM also experienced growth in 2019, with its revenue increasing by 2.8%. The company's audit and assurance, tax, and advisory services saw significant growth, mainly driven by new clients in the fintech and e-commerce industries.

Nexia TS

Nexia TS completed several mergers and acquisitions in 2019, which helped the firm increase its revenue. The company also expanded its services into China, offering business advisory and corporate finance services to clients looking to expand their operations in the region.

Baker Tilly TFW

Baker Tilly TFW had a steady year, with its revenue increasing by 2.6%. The firm's audit, advisory, and tax services all contributed to its growth, especially in the construction and engineering sectors.

Moore Stephens LLP

Moore Stephens experienced a slight decline in revenue but still maintained its position on the list. The company continued to provide specialized services to clients in the shipping, energy, and financial service sectors.

Crowe Horwath First Trust LLP

Crowe Horwath First Trust saw a drop in revenue, mainly driven by a decline in demand for its audit services. The firm focused on expanding its advisory and consulting services to offset this decline.

Conclusion

Singapore's audit market is highly competitive, with the Big Four dominating the top spots. However, it is encouraging to see other firms placing high on the list and experiencing growth. Each of the firms on the ranking offers unique services and specialized knowledge, making the market diverse and exciting. Regardless of their ranking, all firms are striving to provide top-notch services and staying abreast of the evolving needs of their clients.

When it comes to choosing an audit firm in Singapore, it can be overwhelming to decide which one to choose out of the many options available. One way to narrow down your options is to look at rankings of the top audit firms in Singapore. This article will provide a breakdown of the top audit firm rankings for 2020.

What is an Audit Firm?

An audit firm is a professional services firm that provides independent financial statement audits and other assurance services to organizations of various sizes.

Why Choose a Top-Ranked Audit Firm?

Choosing a top-ranked audit firm ensures that you are working with a reputable and experienced firm that is committed to providing excellent service. Top-ranked firms are also likely to have a larger range of resources and expertise to draw upon.

Top Audit Firm Rankings for 2020

1. PwC Singapore

PwC Singapore is a global network of firms that provides audit, advisory, tax, and legal services. It consistently ranks as one of the top audit firms in Singapore, known for its high-quality services and dedication to its clients.

2. Deloitte Singapore

Deloitte Singapore is a leading professional services firm that offers audit, tax, consulting, and financial advisory services. Its team of professionals is committed to delivering results that help their clients excel.

3. Ernst & Young (EY) Singapore

EY Singapore is a leading professional services firm that provides audit, advisory, tax, and transaction advisory services to its clients. It has a strong reputation for providing exceptional service and delivering results.

4. KPMG Singapore

KPMG Singapore is a global network of firms that offers audit, tax, and advisory services. Its team of professionals is dedicated to delivering high-quality services that help its clients succeed.

5. RSM Singapore

RSM Singapore is a leading professional services firm that offers audit, tax, and consulting services. Its team of professionals is committed to providing exceptional service and delivering results that exceed its clients’ expectations.

Conclusion

Choosing the right audit firm for your business is an important decision that should not be taken lightly. By looking at the top audit firm rankings for 2020, you can narrow down your options and choose a reputable and experienced firm that will provide high-quality services and help your business succeed.

No matter which audit firm you choose, it’s important to remember that communication and collaboration are key to a successful partnership. Be sure to discuss your expectations and goals with your audit firm so that everyone is on the same page and working towards the same objectives.

With the right audit firm by your side, you can be confident in the financial health and success of your business for years to come.

Hello there, we hope you have enjoyed reading our article about the Singapore Audit Firm Ranking 2020. We understand that finding a trustworthy audit firm in Singapore can be challenging, which is why we have compiled this list to help you make an informed decision.

As mentioned in the article, the rankings were based on various criteria such as revenue, the number of employees, and client satisfaction. However, we would like to emphasize that these rankings should not be the sole basis for choosing an audit firm for your business. It is important to conduct further research and evaluate the specific needs of your company before making a decision.

One of the key factors to consider when selecting an audit firm is their expertise in your industry. Each industry has unique requirements and regulations, and it is essential to choose a firm that has experience working with businesses similar to yours. Additionally, the size and complexity of your business will also play a significant role in determining the type of service that you require.

Another aspect to take into account is the reputation of the audit firm. You can gauge this by reading reviews and testimonials from previous clients, as well as checking their credentials and affiliations with professional bodies.

One of the advantages of choosing a reputable audit firm is that they can provide valuable insights and recommendations that can help you improve your financial management processes and ensure compliance with regulatory standards. Their expertise can also help you identify potential risks and opportunities for growth.

When choosing an audit firm, it is also important to consider their level of responsiveness and communication. A good audit firm should be responsive to your needs and queries, provide regular updates on the progress of their work, and be willing to explain complex financial concepts in a way that you can understand.

Lastly, it's essential to ensure that the audit firm you select adheres to the highest standards of ethics and integrity. This means that they should maintain strict confidentiality, avoid conflicts of interest, and comply with regulatory requirements.

In conclusion, we hope that this article has been informative and useful in helping you make an informed decision when choosing an audit firm in Singapore. Remember always to consider your business' specific needs and conduct further research before making a final decision.

Thank you for taking the time to read our article, and we wish you all the best on your journey towards finding a reliable and competent audit firm in Singapore!

People also ask about Singapore Audit Firm Ranking 2020:

• 1. What is Singapore Audit Firm Ranking 2020?
• 2. How is the ranking determined?
• 3. Which firms are at the top of the ranking?
• 4. What are the benefits of using a top-ranked audit firm in Singapore?
• 5. How can I find more information about the Singapore Audit Firm Ranking 2020?

Answers to People also ask about Singapore Audit Firm Ranking 2020:

1. What is Singapore Audit Firm Ranking 2020? - The Singapore Audit Firm Ranking 2020 is a list of audit firms in Singapore that have been ranked based on their performance, reputation and clientele.
2. How is the ranking determined? - The ranking is determined by conducting surveys of different stakeholders such as clients, industry experts, and employees of the audit firms. These surveys collect feedback on the firms’ performance, reputation, and other factors that contribute to their performance.
3. Which firms are at the top of the ranking? - The top audit firms in Singapore for 2020 are PwC, Ernst & Young, KPMG, and Deloitte. These are globally renowned firms, known for their high-quality services and wide range of expertise.
4. What are the benefits of using a top-ranked audit firm in Singapore? - Using a top-ranked audit firm in Singapore can provide various benefits, including increasing credibility, enhancing brand value, improving financial reporting practices, reducing fraud possibilities, and ensuring compliance with legal and regulatory requirements.
5. How can I find more information about the Singapore Audit Firm Ranking 2020? - You can visit the official website of the ranking authority to learn more about the process and parameters used in the ranking methodology. You can also get in touch with the auditors or consultancies to know more about their services and credentials.

People Also Ask About Singapore Audit Firm Ranking 2020

1. What is the ranking of audit firms in Singapore for 2020?

In Singapore, the ranking of audit firms for 2020 may vary depending on the criteria used. Some of the top audit firms in Singapore include:

• PricewaterhouseCoopers (PwC)
• Deloitte
• KPMG
• Ernst & Young (EY)
• BDO

Please note that rankings can change over time as firms adapt and compete within the industry.

2. How are audit firms ranked in Singapore?

The ranking of audit firms in Singapore is typically based on various factors, including:

1. Market share: The percentage of clients and projects that a firm handles compared to its competitors.
2. Revenue: The total income generated by the firm from audit and related services.
3. Client satisfaction: Feedback and ratings provided by clients based on their experience with the audit firm.
4. Industry reputation: The perception and recognition of the firm within the business community.
5. Quality of services: The level of professionalism, expertise, and accuracy demonstrated by the firm during audits.

These factors, among others, contribute to the overall ranking of audit firms in Singapore.

3. Are there independent rankings or surveys for Singapore audit firms?

Yes, there are independent rankings and surveys conducted by reputable organizations to assess the performance and reputation of audit firms in Singapore. These rankings take into account factors such as market share, revenue, client feedback, and industry recognition. Some of the well-known publications that release annual rankings include:

• International Accounting Bulletin (IAB)
• Asia Business Law Journal
• World Tax

These rankings provide valuable insights into the standing of audit firms in Singapore.

4. How important is the ranking of an audit firm?

The ranking of an audit firm can be significant for various stakeholders, including businesses, investors, and regulatory bodies. A higher-ranked audit firm generally indicates a stronger reputation, expertise, and track record in delivering quality audit services. It can provide assurance to stakeholders regarding the accuracy and reliability of financial statements and compliance with regulations.

However, it's essential to consider other factors such as industry specialization, client requirements, and the specific needs of an organization when selecting an audit firm. The ranking should serve as one factor among many in the decision-making process.

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