No. Singapore exempts certain companies from having their financial statements audited; these include:
* Small companies: A small company is any company that meets 2 of the 3 following criteria:
* Total annual revenue is less than S$10 million
* Total assets are less than S$10 million
* Maximum of 50 employees
* Dormant companies: A dormant company is any company that has not carried on business and has not generated any income in the past tax year.