Your company is exempted from audit as long as revenue is below S$5 million and own by individual shareholder(s) only.
If the Company is own by the corporate shareholder, it is still exempted to appoint auditor before the company has active operation.
For companies incorporated or with financial year end period starting on or after 1 July 2015, the Company’s account must be audited if the Company has not qualified as a small companies for the immediate past two consecutive financial years.