Accounting Industry in Singapore – Overview
Accounting firms in Singapore play a major role in the city-state’s overall economic growth and development. Singapore’s accounting industry is considered a focal point in its economic blueprint. The city-state’s reputation as a leading business and financial hub in Asia reinforces its status as a major accountancy hub in the region.
Singapore continues to see steady demand for accounting services, fueling growth in the industry and hiring pressure for accounting roles. The solid global standing and the strong international outlook for accounting firms in Singapore are helping boost the city-state’s competitiveness and positioning as a global focal point of business and finance.
Top Accounting Firms in Singapore
Led by Ong Pang Thye, managing partner at KPMG in Singapore, the KPMG Singapore office is one of the most successful offices not only in Asia but globally as well. KPMG operates as an international network of member firms all around the world and offers audit, tax, and advisory services to solve and mitigate risks for clients. Clients include corporations, governments, and non-profit organizations. As the largest of the accounting firms in Singapore, KPMG Singapore emphasizes professionalism, social responsibility, and delivering the best results for its clients.
The second largest of the accounting firms in Singapore, PwC Singapore, operates closely with PwC offices in China, Hong Kong, and Taiwan. PwC Singapore focuses on building trust in the local community by solving important problems and delivering results. Whether through financial audits, advisory, tax or other professional services, PwC’s professionals value listening and embracing different vantage points to deliver optimal results and maximize opportunities for clients.
Led by Max Loh, managing partner at EY Singapore, EY is another “Big Four” member with a large presence in Southeast Asia. On top of tax, advisory, and other professional services, EY performs audits on many publicly-traded companies listed on the Singapore Exchange (SGX). EY Singapore values a closely knit team and a vibrant, respectful, and collaborative business environment. EY Singapore believes it is important to always work on improving client experiences.
Led by CEO Philip Yuen, Deloitte Singapore is the fourth largest accounting firm in the country. With approximately 2,300 staff members and growing, Deloitte Singapore is celebrating its 50th anniversary in 2017. The firm focuses on entrepreneurship, core values, innovation, and excellence. Deloitte Singapore provides excellent services in accounting, consulting, financial advisory, risk management, and tax services.
RSM is one of the largest accounting firms in Singapore outside of the Big Four. Founded in 1985, RSM Singapore primarily provides assurance, tax, and advisory services. Led by founding partner and CEO Chio Kian Huat, RSM Singapore also handles IPOs and audits of major companies in the region. RSM is the fifth largest accounting and professional services firm worldwide.
Another large professional services firm outside of the Big Four, BDO Singapore emphasizes the importance of creating and maintaining a mutually beneficial relationship to ensure the success of not only the firm but its clients as well. By constantly focusing on building and maximizing the potential of its employees in the absence of bureaucracy, BDO Singapore provides numerous services such as audit and assurance, tax, advisory services, and business outsourcing.
Foo Kon Tan
Foo Kon Tan LLP is one of Singapore’s most well-established and respected accounting firms. The firm was originally founded in 1968 as Foo, Kon & Tan, and later underwent a change in brand and structure to become Foo Kon Tan LLP. Foo Kon Tan LLP is a principal member of HLB International, a UK-based worldwide network of independent accounting firms and business advisors. The firm proudly advertises its “I-CARE” motto that indicates an emphasis on integrity, commitment, accountability, respect, and excellence.
Baker Tilly TFW
Baker Tilly TFW ranks among the ten biggest accounting and business advisory firms in Singapore. It is an independent member of Baker Tilly International and is constantly working to improve its expertise in business valuation, cybersecurity, and litigation. Predominantly providing services in assurance, tax, and governance and risk, Baker Tilly TFW is a strong advocate of passion and excellence in client service.
Nexia TS Public Accounting Corporation
Nexia TS was founded in 1993 by Henry Tan and Sitoh Yih Pin, two highly experienced chartered professional accountants. With their clear vision and desire for growth, Nexia TS today is recognized as a well-established, mid-size accounting firm. An independent member of Nexia International, Nexia TS focuses on providing personalized and comprehensive services to its clients. For the fifth year in a row, Nexia TS was included on the 28th Annual Singapore 1000 & Singapore SME 1000 list in 2015. The accolade is presented to the top 1% of corporations and SMEs in Singapore. The firm provides assurance, taxation, accounting, and consulting services.
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