If your mall lease ties rent to your Gross Turnover (GTO), your landlord almost certainly requires an independently audited GTO statement before the deadline in your tenancy agreement. Ackenting Group (AG) provides ACRA-registered GTO audits for Singapore retail and F&B tenants, priced on a fixed fee from S$800, completed fast enough to beat your landlord’s submission window.

What Is a GTO (Sales) Audit?

A Gross Turnover audit, often shortened to GTO audit or sales audit, is an independent verification of the sales revenue your business reports to a landlord or mall management. The auditor reviews your point-of-sale records, sales summaries, and supporting financial documents to confirm that the turnover figure you’ve declared is complete, accurate, and consistent with your actual trading activity.

Unlike a statutory audit, a GTO audit isn’t a legal requirement under the Companies Act — it’s a contractual one. If your tenancy agreement includes a turnover-rent clause, the lease itself obligates you to submit an audited GTO statement, usually by a firm the landlord recognises as an ACRA-registered public accounting practice.

Why Do Landlords Require a GTO Audit?

Many Singapore malls structure tenant rent as a base rent plus a percentage of monthly gross sales above an agreed threshold. Since the landlord’s revenue is directly tied to your reported turnover, an independent audit gives them (and you) assurance that the figure used to calculate rent is accurate — protecting both sides from under- or over-reporting disputes.

Who Needs a GTO Audit in Singapore?

GTO audits are most common among:

  • Retail tenants in shopping malls with percentage-rent lease structures
  • F&B operators — restaurants, cafes, bakeries, and food kiosks — in mall or food-court settings
  • Any tenant whose lease specifies an audited turnover statement as a condition of the tenancy

If your lease includes a turnover-rent clause, check the submission deadline carefully: most landlords require the audited GTO statement within 30 to 90 days of your lease year-end (commonly 3 months), so the audit itself needs to be scheduled well before that cut-off.

Documents You’ll Need to Prepare

To keep your GTO audit on schedule, have the following ready before your audit start date:

  • Point-of-sale (POS) transaction reports for the full lease year
  • Monthly sales summaries and till reconciliation records
  • Bank statements showing sales-related deposits
  • Stock movement or inventory reports, where relevant to reconciling reported sales
  • Any prior GTO audit reports or landlord correspondence on reporting requirements

The more complete and organised these records are going in, the faster your audit moves — well-prepared tenants typically clear the process in a matter of days rather than weeks.

Our GTO Audit Process

We built our GTO audit process to fit inside a tenant’s tight turnover-rent deadlines:

  1. Scoping call. We confirm your lease’s GTO reporting requirements and your landlord’s submission format before fieldwork starts.
  2. Document collection. You provide POS data, sales summaries, and bank records; we flag any gaps immediately rather than mid-audit.
  3. Reconciliation and testing. We reconcile your reported turnover against POS and banking records, testing for completeness and accuracy.
  4. Draft findings review. We walk you through any discrepancies or adjustments before finalising the report, so there are no surprises at sign-off.
  5. Audited GTO statement issued. You receive a signed statement of audited gross turnover, ready for submission to your landlord, along with our compliance declaration.

This process typically runs 3 to 10 working days depending on document readiness, well within our broader 30-Day Completion Protocol commitment across all audit engagements.

How Much Does a GTO Audit Cost in Singapore?

GTO audit fees in Singapore usually reflect the transaction volume and complexity of your point-of-sale systems. AG prices sales (GTO) audits on a fixed fee starting from S$800, confirmed upfront after a short scoping call — no hourly billing, no surprise line items tied to how long reconciliation takes.

For tenants who also need statutory audit services or other compliance work in the same filing season, we can scope both engagements together under one fixed-fee quote.

Why Choose Ackenting Group for Your GTO Audit

  • ACRA-registered, ISCA-certified auditors. Your GTO statement is signed off by a public accounting practice landlords recognise, not an unregistered bookkeeping service.
  • Fast turnaround. Most GTO audits complete in 3 to 10 working days with organised records, so you’re not scrambling to beat your landlord’s deadline.
  • Fixed, upfront pricing. Fees start from S$800 and are agreed before fieldwork begins — no hourly surprises.
  • One team for all your audit needs. Beyond GTO audits, our full range of audit services covers statutory, grant, and group audits, so multi-location retailers and F&B groups can consolidate every audit requirement with one firm.

Frequently Asked Questions

What is a GTO audit and why does my landlord require one?
A GTO (Gross Turnover) audit independently verifies the sales revenue you report to your landlord. It’s required when your lease ties rent to a percentage of your turnover, giving both parties assurance that the rent calculation is based on accurate figures.

How much does a GTO audit cost in Singapore?
AG prices GTO audits on a fixed fee starting from S$800, confirmed upfront based on your transaction volume and record complexity, with no hourly billing.

How long does a GTO audit take?
Most GTO audits take 3 to 10 working days depending on how complete and organised your POS and sales records are when the audit begins.

What documents do I need for a GTO audit?
Commonly required documents include POS transaction reports, monthly sales summaries, bank statements, stock movement reports, and any prior GTO correspondence from your landlord.

When is my audited GTO statement due?

Most Singapore landlords require the audited GTO statement within 30 to 90 days (commonly 3 months) of your lease year-end. Check your tenancy agreement for the exact deadline.

Can AG handle my GTO audit alongside my statutory or other audits?
Yes. Many retail and F&B clients engage AG for GTO audits alongside their statutory audit or other compliance work, so one team handles every audit requirement for the filing season.

Ready to get your GTO audit done before your landlord’s deadline? Get a fixed-fee quote from AG’s audit team.