A company remain dormant since incorporation and throughout the period is not require to be audited whether it is PIE or not.
And a small company is exempted from audit if it is a private company (not a PIE) and satisfies the criteria as small company, the two out of three conditions.
1) Revenue <10m
2) Total assets <10m
3) employees <50
Per FRS 109, para 5.1.1, financial assets such as equity instruments shall be initially measured at fair value. And subsequently measured...
In Singapore FRS 36, paragraph 96 ”The annual impairment test for a cash-generating unit to which goodwill has been allocated may be...
When there was a judgement made in prior year without concrete evidence of support. The audit should have qualified it. When in...
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