If you’ve started asking around for audit quotes, you’ve probably noticed something frustrating: nobody gives you a straight number. That’s not firms being difficult — it’s because there is no fixed or government-regulated audit fee in Singapore. The Institute of Singapore Chartered Accountants (ISCA) sets standards for audit quality, not audit pricing. Every fee is negotiated between you and the audit firm, based on your company’s size, complexity, and how clean your books are.
That said, “it depends” isn’t a useful answer when you’re budgeting. Here’s what audit fees typically look like in Singapore, what actually moves the number, and how to avoid overpaying.
The Short Answer
For most Singapore SMEs, a statutory audit costs somewhere between S$1,000 and S$12,000 a year. Roughly:
| Company profile | Typical audit fee (SGD) |
|---|---|
| Dormant company | S$1,000 – S$2,000 |
| Small company, simple operations | S$2,500 – S$5,000 |
| SME with revenue of S$5m–S$10m | S$5,000 – S$12,000 |
| Complex, multi-entity, or listed company | S$12,000 and up, often well above S$20,000 |
These are market ranges, not quotes — always get a written proposal before committing. AG’s own statutory audit pricing starts at S$5,000 on a fixed-fee basis (see our audit services pricing), which sits at the lower end for a small-to-mid-sized SME with reasonably organised records.
What Actually Drives the Fee
Audit firms don’t pull a number out of the air. The quote is built around how much work your engagement actually requires:
Revenue and transaction volume. More transactions means more sampling and testing. A company doing S$500,000 in revenue with a handful of invoices a month is a very different job from one doing S$8 million with daily point-of-sale transactions.
Number of subsidiaries or entities. If your company has subsidiaries, branches, or needs a consolidated set of financial statements, expect a meaningfully higher fee — group consolidation and amalgamation audits require additional work to eliminate intercompany transactions and verify the group structure correctly.
Industry-specific complexity. Certain sectors carry extra audit requirements by nature — construction companies subject to BCA audit obligations, or MCST developments with sinking fund and management fund accounts to verify separately.
Inventory and fixed assets. Physical stock counts and asset verification add fieldwork hours, especially for retail, F&B, or manufacturing businesses.
How clean your bookkeeping is. This is the one within your control. If your ledgers are reconciled, receipts are organised, and your accountant can answer questions quickly, auditors spend less time chasing paperwork and more time actually auditing — which keeps the bill down. Our guide on how to prepare for an audit walks through exactly what to have ready before your auditor arrives.
Turnaround time. Rushed engagements close to a filing deadline sometimes cost more, since the firm has to reprioritise staff to meet your timeline.
Do You Even Need a Statutory Audit?
Before you budget for an audit fee at all, it’s worth checking whether your company qualifies for exemption. A private company in Singapore is exempt from statutory audit if it meets at least two of the following three criteria for the immediate past two consecutive financial years:
- Total annual revenue of S$10 million or less
- Total assets of S$10 million or less
- 50 or fewer employees
Worth noting: ACRA announced in February 2026 that it’s reviewing the audit exemption framework as part of a broader push to reduce compliance costs for small companies. The review is still at the public consultation stage, and the current thresholds above remain in effect for now. We cover the full criteria and the latest on that review in our audit exemption guide.
How to Keep Your Audit Fee Down
A few things genuinely move the number in your favour:
- Get your books audit-ready before the engagement starts, not during it. Every hour an auditor spends reconciling your ledger instead of testing it is an hour you’re paying for.
- Consolidate your grant, sales, or GTO audit requirements with your statutory audit where possible, rather than engaging separate firms for each — most firms, including AG, offer bundled pricing.
- Ask for a fixed fee, not an hourly estimate. A fixed-fee quote protects you from scope creep and gives you budget certainty from day one.
- Avoid last-minute engagements. Firms that have to compress a 4–8 week audit into a rushed timeline may charge a premium for the disruption.
AG’s Approach: Fixed Fee, No Surprises
We built our pricing around the biggest complaint we hear from SME owners: the “billable hour” anxiety of not knowing what the final invoice will look like. AG’s statutory audit fee starts at S$5,000, quoted upfront as a fixed price — not an estimate that grows as the engagement progresses. We also run on a 30-Day Completion Protocol, so you’re not left waiting months for a report you need to file with ACRA and IRAS.
See the full breakdown on our audit services page, or get a tailored quote for your statutory audit.
Frequently Asked Questions
Is there a government-set minimum audit fee in Singapore?
No. ISCA sets standards for audit quality and conduct, but audit fees are not regulated — they’re negotiated individually between you and your chosen firm.
Why do audit quotes vary so much between firms?
Big 4 firms typically charge S$15,000 and up due to their overhead and brand premium, mid-tier firms like AG generally fall between S$5,000–S$15,000, and boutique firms may quote S$1,500–S$5,000 for very simple engagements. The right choice depends on your company’s complexity and the level of service you need, not just the lowest number.
Can I negotiate my audit fee?
Yes — since there’s no regulated rate, fees are open to discussion, especially for multi-year engagements or bundled services. What you can’t negotiate away is the actual audit work required for your company’s size and complexity.
Does a lower audit fee mean lower quality?
Not necessarily, but it’s worth asking what’s included. A very low quote sometimes signals limited scope or a firm that plans to make up the margin on out-of-scope work later. Ask for a fixed-fee, all-inclusive quote to avoid this.
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