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Accounting Advisory
Our accounting advisory team help businesses meet their complex financial reporting requirements. The team can support in applying new financial reporting standards, IFRS/ US GAAP conversions, financial statement preparation, consolidation and more.
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Payroll
Our team can handle your payroll processing needs to help you reduce cost and saves time so that you can focus on your core competencies
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Managed accounting and bookkeeping
Outsourcing the financial reporting function is a growing trend among middle market and startup companies, as it provides a cost-effective way to improve the finance and accounting function. Our team can help with financial statement preparation, consolidation and technical on-call advisory.
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Accounting Advisory
Our team helps companies keep up with changes to international and domestic financial reporting standards so that they have the right accounting policies and operating models to prevent unexpected surprises.
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Crypto Accounting Advisory Service
Our team can help you explore appropriate accounting treatment for accounting for holdings in cryptocurrencies, issuance of cryptocurrencies and other crypto/blockchain related accounting issues.
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ESG Reporting and Accounting
As part of our ESG and Sustainability Services, our team will work with you on various aspects of ESG accounting and ESG reporting so that your business can be pursue a sustainable future.
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Expected Credit Loss
Our team of ECL modelling specialists combine help clients implement provisioning methodology and processes which are right for them.
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Managed Accounting and Bookkeeping Services
Outsourcing the financial reporting function is a growing trend among middle market and startup companies, as it provides a cost-effective way to improve the finance and accounting function. Our team can help with financial statement preparation, consolidation and technical on-call advisory.
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Business Tax Advisory
Our business tax team can help you navigate the international tax landscape, grow through mergers and acquisitions, or plan an exit strategy.
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Corporate Finance
Our corporate finance team helps companies with capital raising, mergers and acquisitions, private equity, strategic joint ventures, special situations and more.
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Financial Due Diligence
From exploring the strategic options available to businesses and shareholders through to advising and project managing the chosen solution, our team provide a truly integrated offering
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Valuations
Our valuation specialists blend technical expertise with a pragmatic outlook to deliver support in financial reporting, transactions, restructuring, and disputes.
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Sustainability with the ARC framework
Backed by the CTC Grant, businesses can tap on the ARC Framework to gain access to sustainability internally, transform business processes, redefine job roles for workers, and enhance productivity. Companies can leverage this grant to drive workforce and enterprise transformation.
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Business Tax Advisory
Our business tax team can help you navigate the international tax landscape, grow through mergers and acquisitions, or plan an exit strategy.
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Corporate Tax Compliance
Our corporate tax teams prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and realise tax benefits.
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Tax Governance
Our Tax Governance Services are designed to assist organisations in establishing effective tax governance practices, enabling them to navigate the intricate tax environment with confidence.
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Goods and Services Tax
Our GST team supports organisations throughout the entire business life-cycle. We can help with GST registration, compliance, risk management, scheme renewals, transaction advisory and more.
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Transfer Pricing
Our Transfer Pricing team advises clients on their transfer pricing matters on and end-to-end basis right from the designing of policies, to assistance with annual compliance and assistance with defense against the claims of competing tax authorities.
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Employer Solutions
Our Employer Solutions team helps businesses remain compliant in Singapore as well as globally as a result of their employees' movements. From running local payroll, to implementing a global equity reward scheme or even advising on the structure of employees’ cross-border travel.
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Private Client Services
Our private client services team provides a comprehensive cross section of advisory services to high net worth individuals and corporate executives, allowing such individuals to concentrate on their business interests.
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Welfare and benefits
We believe that a thriving team is one where each individual feels valued, fulfilled, and empowered to achieve their best. Our welfare and benefits aim to care for your wellbeing both professionally and personally.
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Career development
We want to help our people learn and grow in the right direction. We seek to provide each individual with the right opportunities and support to enable them to achieve their best.
From September 2023, new Employment Pass (EP) applications not only have to meet higher salary thresholds, but also score enough points under the Ministry of Manpower's (MOM) new points-based Complementarity Assessment Framework (COMPASS).
For more information on the higher salary threshold, read our commentary on the Singapore Budget 2022.
Get the introduction to COMPASS in a handy printable PDF format
How does COMPASS work?
Applications are scored on 4 foundational criteria and applicants and employers will earn points if they meet/exceed expectations.
Additionally, they can earn additional points on bonus criteria under skill shortage list and strategic economic priorities. Applicant will require 40 points to pass.
Please refer to table by the MOM below on how the scoring works.
Key points to take note of
The current Fair Consideration Framework (FCF) job advertising requirement will continue to apply.
Candidates are exempted from COMPASS if they fulfil any of these conditions:
- Earning at least SGD20,000 fixed monthly salary
- Filling a short term role of one month or less
- Applying as an overseas intra-corporate transferee under the WTO’s General Agreement on Trade in Services or an applicable Free Trade Agreement that Singapore is party to
Firms with less than 25 Professionals, Managers, Executives and Technicians (PMET) will automatically score 10 points on the Diversity and Support for Local Employment attributes by default.
MOM will pilot the Global Rotation Scheme to address employers’ concern on bringing in young, high-potential employees to Singapore under their global leadership program.
The scoring rubric will be published on MOM’s website, allowing employers to obtain the indicative scores for each application before submission. MOM will progressively roll out educational materials and further details on specific criteria.
COMPASS will only apply to renewal cases starting from September 2024 to give sufficient time for employers to adjust and plan.
Adrian Sham, Employer Solutions Partner at Grant Thornton Singapore says, "We welcome the introduction of a points-based COMPASS system to bring more clarity and transparency when looking to bring foreign talent into Singapore.
"MOM’s previously assessment was intentionally vague to prevent applicants from “gaming” the system but it also provided uncertainty and challenges to employers and employees.
"The new COMPASS system means that employers will be able to identify areas where the employer can improve to increase the certainty of bringing their foreign talent into Singapore."
Get the introduction to COMPASS in a handy printable PDF format
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