Singapore firms must improve quality of their financial statements: Experts

Shortcomings in this area were revealed in a January 2022 report. ST PHOTO: KUA CHEE SIONG
New: Gift this subscriber-only story to your friends and family

SINGAPORE - Companies must strengthen their internal processes to improve the quality of their financial statements, given the shortcomings in this area revealed by a recent report, experts noted.

The report, which came out last month, found that auditors proposed 22,051 audit adjustments amounting to $78.67 billion from 2018 to 2020 for the 412 listed firms in the study.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.