Choosing the right accounting firm is one of the most important decisions for any Singapore SME, as it can impact your business’s financial health, compliance, and long-term growth. This guide compares the top accounting firms in Singapore using objective criteria such as expertise, services, technology, and SME focus—not paid placements or sponsorships.
Introduction
Choosing the right accounting firm is a crucial decision for every small and medium-sized enterprise (SME) in Singapore. Beyond preparing financial statements and filing tax returns, a reliable accounting firm can help you maintain accurate financial records, improve cash flow management, stay compliant with regulatory requirements, and provide valuable financial insights to support business growth.
As businesses grow, so do their compliance obligations. Singapore companies are required to meet various statutory requirements, including maintaining proper accounting records, preparing financial statements, filing annual returns, submitting corporate income tax returns, and, where applicable, complying with Goods and Services Tax (GST) regulations. Failing to meet these obligations can result in penalties, unnecessary stress, and reputational risks. Working with an experienced accounting firm helps ensure your business remains compliant while allowing you to focus on running and growing your business.
Not all accounting firms are the same. Some specialise in serving startups, while others focus on established SMEs or large multinational corporations. The best accounting firm for your business should understand the unique challenges faced by SMEs, offer scalable solutions, leverage modern cloud accounting technologies, and provide responsive, proactive support as your business evolves.
In this guide, we compare the top accounting firms in Singapore using a consistent and objective evaluation framework. Factors such as industry experience, range of services, SME expertise, technology adoption, customer service, and overall reputation are considered to provide a balanced comparison. Whether you’re starting a new business or looking to switch accountants, this guide will help you identify the accounting firm that best suits your business needs and long-term goals.
How We Selected the Top 10 Accounting Firms
With hundreds of accounting firms operating in Singapore, choosing the right one can be challenging. To provide a fair and balanced comparison, we evaluated each firm using consistent criteria that are most relevant to Singapore SMEs. Rather than relying on paid placements or advertising, our assessment focuses on factors that influence the quality, reliability and value of the services provided. While every business has unique requirements, the following criteria can help you identify an accounting firm that best aligns with your needs.
Experience and Industry Reputation
An accounting firm’s track record is often a good indicator of its expertise and reliability. We considered how long each firm has been operating, the professional qualifications of its accountants, and its experience serving Singapore SMEs across different industries. Firms with a strong reputation, experienced professionals, and a proven history of helping businesses navigate financial and regulatory challenges were rated more favourably.
Range of Services
As businesses grow, their accounting needs become more complex. We assessed whether each firm offers a comprehensive suite of services, including accounting and bookkeeping, payroll processing, GST filing, corporate tax compliance, company incorporation, company secretarial services, preparation of financial statements, and cloud accounting solutions. Firms that provide a wider range of integrated services can often become long-term business partners, reducing the need to engage multiple service providers.
Technology and Cloud Accounting
Modern accounting increasingly relies on cloud technology to improve efficiency and collaboration. We evaluated whether firms support leading cloud accounting platforms such as Xero, offer cloud bookkeeping services, automate routine accounting processes, and provide secure digital document sharing. Firms that embrace technology can help businesses access real-time financial information, streamline workflows, and reduce manual administrative tasks.
Client Experience
Technical expertise is important, but so is the quality of client service. We considered factors such as responsiveness, communication, client reviews, and whether businesses are assigned dedicated account managers. An accounting firm that provides timely advice, proactive communication, and personalised support can make managing your finances significantly easier as your business grows.
Comparison of the Top 10 Accounting Firms in Singapore
The following table compares the leading accounting firms in Singapore based on their primary strengths, target clients, and areas of expertise. While most established accounting firms offer core services such as bookkeeping, accounting, GST filing, payroll, and tax compliance, their experience, industry focus, and service approach can vary significantly.
Accounting Firm | Best For | SME Focus | Company Size | Key Strength | Cloud Accounting |
Accounting Consultancy Pte Ltd | SMEs looking for personalised, full-service support | ⭐⭐⭐⭐⭐ | Startups to Medium-sized Businesses | Outsourced accounting, payroll, GST, Xero, dedicated support | Xero |
RSM Singapore | Growing local and international businesses | ⭐⭐⭐⭐☆ | Medium to Large Businesses | Audit, tax, advisory and business consulting | Multiple Platforms |
Forvis Mazars Singapore | Businesses with regional operations | ⭐⭐⭐⭐☆ | Medium to Large Businesses | International accounting, tax and advisory | Multiple Platforms |
BDO Singapore | Established SMEs and larger enterprises | ⭐⭐⭐☆☆ | Medium to Large Businesses | Audit, assurance and corporate advisory | Multiple Platforms |
CLA Global TS | Fast-growing companies | ⭐⭐⭐⭐☆ | SMEs to Large Businesses | Business advisory, tax and regional expansion | Multiple Platforms |
Nexia Singapore | Businesses requiring audit and compliance | ⭐⭐⭐⭐☆ | SMEs to Large Businesses | Audit, tax and corporate advisory | Multiple Platforms |
Precursor Group | Technology startups and venture-backed companies | ⭐⭐⭐⭐⭐ | Startups & SMEs | Startup ecosystem expertise and outsourced finance | Xero |
Rikvin | Foreign entrepreneurs setting up in Singapore | ⭐⭐⭐⭐☆ | Startups & SMEs | Company incorporation and corporate services | Xero |
BoardRoom Singapore | Regional businesses with HR and payroll needs | ⭐⭐⭐☆☆ | Medium to Large Businesses | Payroll outsourcing and corporate secretarial services | Multiple Platforms |
PKF Singapore | Family-owned businesses and established SMEs | ⭐⭐⭐⭐☆ | SMEs to Large Businesses | Audit, tax and business advisory | Multiple Platforms |
Every business has different priorities, so there is no single accounting firm that is the best choice for every SME. A startup may value affordable monthly accounting and cloud bookkeeping, while a larger company may require audit, international tax planning, or corporate advisory services. Rather than focusing solely on brand recognition, consider each firm’s experience, industry expertise, technology capabilities, responsiveness, and ability to support your business as it grows.
Top 10 Accounting Firms in Singapore
The following accounting firms are listed in alphabetical order and not in order of ranking. Each firm has its own strengths, areas of expertise, and target clientele. The best accounting firm for your business depends on factors such as your company’s size, industry, budget, and specific accounting requirements.
1. Accounting Consultancy Pte Ltd
Overview
Established in 2009, Accounting Consultancy Pte Ltd is a Singapore-based accounting firm dedicated to helping startups and SMEs manage their accounting and compliance obligations. The firm focuses on delivering personalised support and practical business advice, enabling business owners to spend more time growing their businesses.
Key Services
- Accounting and bookkeeping
- GST filing
- Payroll services
- Xero accounting solutions
- Company incorporation
- Company secretarial services
- Financial statement compilation
Strengths
Accounting Consultancy combines personalised service with modern cloud accounting technology. Clients benefit from dedicated support, transparent pricing, and a comprehensive range of services under one roof.
Things to Consider
The firm specialises primarily in SMEs and may not be the preferred choice for large multinational corporations requiring complex global advisory services.
Best Suited For
Startups, small businesses and growing SMEs looking for a reliable long-term accounting partner.
2. BDO Singapore
Overview
BDO Singapore is one of Singapore’s largest professional services firms and a member of the global BDO network. It serves businesses ranging from SMEs to large corporations across various industries.
Key Services
- Audit and assurance
- Accounting
- Tax advisory
- Corporate secretarial
- Payroll
- Business advisory
Strengths
BDO offers extensive industry expertise, international resources, and a broad range of professional services suitable for growing businesses.
Things to Consider
Its extensive service offerings may be more comprehensive than necessary for very small businesses with straightforward accounting needs.
Best Suited For
Established SMEs, large local companies, and businesses planning regional expansion.
3. BoardRoom Singapore
Overview
BoardRoom Singapore provides corporate services throughout Asia, offering integrated accounting, payroll, corporate secretarial, and advisory services.
Key Services
- Payroll outsourcing
- Accounting
- Corporate secretarial
- Tax compliance
- Share registry services
Strengths
BoardRoom has strong regional capabilities and is particularly recognised for payroll outsourcing and corporate governance services.
Things to Consider
Businesses seeking highly personalised SME advisory may prefer boutique accounting firms.
Best Suited For
Companies with regional operations and businesses requiring outsourced payroll and corporate secretarial support.
4. CLA Global TS
Overview
CLA Global TS is a Singapore-headquartered professional services firm providing audit, tax, accounting, and business advisory services to companies across multiple industries.
Key Services
- Accounting
- Audit
- Tax advisory
- Business consulting
- Corporate finance
Strengths
The firm combines local expertise with international capabilities, making it well suited for businesses with regional ambitions.
Things to Consider
Some advisory services may be more suitable for larger organisations than smaller startups.
Best Suited For
Growing SMEs, mid-sized businesses, and regional enterprises.
5. Forvis Mazars Singapore
Overview
Forvis Mazars Singapore is part of the global Forvis Mazars network, serving multinational corporations, family-owned businesses, and SMEs.
Key Services
- Accounting
- Audit
- Tax
- Financial advisory
- Outsourcing
Strengths
The firm offers strong international expertise and multidisciplinary services supported by a global network.
Things to Consider
Its broad service portfolio may exceed the requirements of businesses seeking only basic accounting support.
Best Suited For
Businesses with cross-border operations and companies expanding internationally.
6. Nexia Singapore
Overview
Nexia Singapore is an established accounting and advisory firm that serves businesses ranging from startups to listed companies through the global Nexia network.
Key Services
- Accounting
- Audit
- Tax
- Corporate advisory
- Business consulting
Strengths
Nexia provides comprehensive compliance and advisory services backed by international expertise.
Things to Consider
Businesses seeking highly customised SME-focused accounting packages may wish to compare several providers.
Best Suited For
SMEs requiring audit, tax, and business advisory support.
7. PKF Singapore
Overview
PKF Singapore is part of the global PKF network and has many years of experience providing accounting, audit, tax, and advisory services.
Key Services
- Accounting
- Audit
- Tax
- Business advisory
- Corporate finance
Strengths
PKF has strong technical expertise and serves businesses across a wide range of industries.
Things to Consider
Its comprehensive corporate services may be more suitable for established businesses than very small startups.
Best Suited For
Established SMEs, family-owned businesses, and companies seeking integrated professional services.
8. Precursor Group
Overview
Precursor Group is well known within Singapore’s startup ecosystem, supporting entrepreneurs and fast-growing businesses with outsourced finance and accounting services.
Key Services
- Accounting
- Bookkeeping
- Payroll
- CFO advisory
- Corporate secretarial
- Xero support
Strengths
The firm has extensive experience working with startups, venture-backed companies, and technology businesses.
Things to Consider
Businesses outside the startup sector may prefer firms with broader industry specialisation.
Best Suited For
Startups, technology companies, and high-growth SMEs.
9. Rikvin
Overview
Rikvin specialises in company incorporation and corporate services, helping local and foreign entrepreneurs establish and manage businesses in Singapore.
Key Services
- Company incorporation
- Accounting
- Payroll
- GST
- Corporate secretarial
- Tax filing
Strengths
Rikvin offers convenient one-stop corporate solutions, particularly for new business owners.
Things to Consider
Businesses requiring specialised advisory or complex financial consulting may wish to evaluate additional firms.
Best Suited For
Foreign investors, startups, and newly incorporated businesses.
10. RSM Singapore
Overview
RSM Singapore is one of Singapore’s leading accounting firms and part of the global RSM network. It provides audit, accounting, tax, and consulting services to businesses of all sizes.
Key Services
- Accounting
- Audit
- Tax
- Payroll
- Business consulting
- Risk advisory
Strengths
RSM combines strong local knowledge with international resources, making it a trusted adviser for growing businesses.
Things to Consider
Smaller businesses looking for highly personalised support may also wish to consider boutique accounting firms.
Best Suited For
Growing SMEs, medium-sized enterprises, and businesses expanding into overseas markets.
Disclaimer: This list is provided for general information only and is not an official industry ranking. The descriptions are based on publicly available information at the time of writing. Businesses should conduct their own due diligence and evaluate each accounting firm based on their specific requirements before making a decision.
How to Choose the Right Accounting Firm
Selecting the right accounting firm is about more than simply comparing prices or choosing the biggest name. The right accounting partner should understand your business, provide timely advice, and support your company’s growth at every stage. Whether you’re a startup or an established SME, taking the time to evaluate your options can save you time, money, and unnecessary compliance risks in the long run.
Choose a Firm That Understands SMEs
SMEs have different accounting needs from large corporations. Beyond maintaining accurate financial records, an experienced accounting firm should understand the day-to-day challenges faced by business owners, including managing cash flow, controlling costs, and planning for future growth.
A good accountant can provide meaningful financial insights that help you make informed business decisions rather than simply preparing year-end accounts. They should also recommend practical solutions to improve operational efficiency, identify opportunities to reduce unnecessary expenses, and ensure your business remains compliant with Singapore’s regulatory requirements. Choosing a firm with extensive SME experience means you’ll receive advice that is tailored to your business size, industry, and growth objectives.
Consider More Than Price
While cost is an important consideration, choosing the cheapest accounting firm may not always deliver the best value. Lower fees can sometimes mean limited service scope, slower response times, or less experienced staff.
Instead of focusing solely on price, consider the overall value the firm provides. Ask whether they offer proactive advice, dedicated support, transparent pricing, and a comprehensive range of services. An experienced accounting partner can help you avoid costly compliance mistakes, improve financial reporting, and identify opportunities to enhance business performance—benefits that often outweigh a lower monthly fee.
Look for Cloud Accounting Expertise
Modern accounting has evolved significantly with the adoption of cloud-based accounting software. Firms that embrace cloud accounting can provide faster, more efficient, and more collaborative services than those relying solely on traditional manual processes.
Platforms such as Xero enable business owners to access real-time financial reports, automatically import bank transactions through secure bank feeds, and automate repetitive accounting tasks such as bank reconciliations and invoice processing. Digital document sharing also makes it easier to collaborate with your accountant, reducing paperwork and ensuring your financial information is always up to date. Choosing an accounting firm with strong cloud accounting expertise can improve productivity while providing greater visibility over your business finances.
Ensure They Can Grow With Your Business
Your accounting needs will change as your business expands. A startup may initially require only bookkeeping and annual financial statements, but as revenue grows, additional services such as payroll processing, GST compliance, tax planning, management reporting, and company secretarial support may become essential.
Choosing an accounting firm that offers scalable services allows you to continue working with the same trusted adviser as your business evolves. Rather than changing providers every few years, look for a firm that can support your growth, adapt to your changing requirements, and provide strategic financial guidance throughout your business journey.
Why Professional Accounting Matters for Singapore Businesses
Professional accounting plays a vital role in helping Singapore businesses remain financially healthy, make informed decisions, and meet their statutory obligations. While many SMEs begin by managing their own accounts, growing businesses often benefit from the expertise and guidance of qualified accounting professionals.
One of the key benefits of professional accounting is accurate financial reporting. Timely and reliable financial statements provide business owners with a clear understanding of their company’s profitability, cash flow, and financial position. With accurate financial information, business owners can make better decisions on budgeting, pricing, investments, and future expansion rather than relying on assumptions or outdated records.
Effective cash flow management is equally important. Even profitable businesses can experience cash flow challenges if income and expenses are not monitored closely. An experienced accounting firm can help track receivables and payables, prepare regular management reports, and identify potential cash flow issues before they become serious problems.
Professional accounting also helps reduce compliance risks. Singapore businesses are required to maintain proper accounting records, prepare financial statements, comply with Inland Revenue Authority of Singapore (IRAS) corporate income tax obligations, submit GST returns if they are GST-registered, and meet Accounting and Corporate Regulatory Authority (ACRA) annual filing requirements. Failure to comply with these obligations may result in penalties, additional administrative costs, or unnecessary delays.
Although modern accounting software has made bookkeeping more efficient, software alone cannot replace professional judgement and expertise. Cloud accounting platforms such as Xero can automate routine tasks and provide real-time financial information, but experienced accountants add value by interpreting financial data, identifying tax planning opportunities, ensuring regulatory compliance, and providing practical advice tailored to your business. Combining the efficiency of technology with professional accounting expertise enables SMEs to operate more confidently while focusing on sustainable business growth.
Common Services Offered by Accounting Firms
Most accounting firms in Singapore offer a broad range of services designed to help businesses manage their finances, meet regulatory obligations, and improve operational efficiency. While the exact service offerings may vary between firms, the following are some of the most common services that SMEs can expect.
Bookkeeping
Bookkeeping forms the foundation of every business’s accounting system. It involves recording daily financial transactions, including sales, purchases, receipts, and payments. Accurate bookkeeping ensures that financial records remain organised and up to date, making it easier to monitor business performance and prepare tax returns and financial statements.
Financial Reporting
Accounting firms prepare financial statements such as the Statement of Financial Position (Balance Sheet), Statement of Comprehensive Income (Profit and Loss Statement), and Cash Flow Statement. These reports provide business owners with valuable insights into profitability, cash flow, and overall financial health while supporting statutory reporting and business decision-making.
GST Filing
For GST-registered businesses, accounting firms can prepare and submit GST returns accurately and on time. They help ensure that GST collected and paid is correctly recorded, reducing the risk of filing errors and penalties. Professional accountants also keep businesses informed of Inland Revenue Authority of Singapore (IRAS) GST filing requirements, filing deadlines, and changes to GST regulations.
Payroll Processing
Managing payroll involves more than simply paying employees. Accounting firms can calculate salaries, overtime, bonuses, and statutory deductions, prepare itemised payslips, process Central Provident Fund (CPF) contributions, and help businesses comply with Singapore’s employment and payroll regulations. Outsourcing payroll also helps minimise administrative workload and reduce payroll errors.
Cloud Accounting
Many accounting firms now offer cloud accounting services using platforms such as Xero. Cloud accounting enables business owners to access real-time financial information from anywhere, automate bank transaction imports through secure bank feeds, generate invoices, capture receipts digitally, and collaborate seamlessly with their accountants. By combining cloud technology with professional accounting expertise, businesses can improve efficiency, enhance financial visibility, and make faster, more informed decisions.
Frequently Asked Questions
Which is the best accounting firm in Singapore?
There is no single accounting firm that is the best choice for every business. The right firm depends on your company’s size, industry, budget, and service requirements. Some firms specialise in startups and SMEs, while others focus on larger corporations or multinational businesses. When comparing accounting firms, consider their experience, range of services, industry expertise, use of cloud accounting technology, responsiveness, and client reviews rather than relying solely on brand recognition.
How much do accounting firms charge in Singapore?
Accounting fees vary depending on the complexity of your business and the services required. Factors such as transaction volume, number of employees, GST registration, payroll requirements, and the need for company secretarial or tax services all influence pricing. Some firms offer fixed monthly packages, while others charge based on the scope of work. It is advisable to compare quotations carefully and understand exactly what services are included before making a decision.
Should SMEs outsource their accounting?
Yes, many SMEs choose to outsource their accounting because it is often more cost-effective than hiring an in-house accountant. Outsourcing provides access to experienced professionals, reduces administrative workload, improves compliance, and allows business owners to focus on growing their business. Many accounting firms also offer scalable services that can expand as your business grows.
What services do accounting firms provide?
Most accounting firms offer a comprehensive range of services, including bookkeeping, accounting, financial statement preparation, GST filing, payroll processing, corporate tax compliance, company incorporation, company secretarial services, cloud accounting, and business advisory. Some firms also provide audit, tax planning, and outsourced Chief Financial Officer (CFO) services.
Can accounting firms handle GST filing?
Yes. Most accounting firms assist GST-registered businesses in preparing and submitting GST returns accurately and on time. They help ensure compliance with Inland Revenue Authority of Singapore (IRAS) GST filing requirements, maintain proper GST records, calculate output and input tax correctly, and advise businesses on GST-related matters to minimise the risk of filing errors and penalties.
Can accounting firms prepare annual financial statements?
Yes. Accounting firms prepare annual financial statements in accordance with the applicable financial reporting standards in Singapore. These financial statements support corporate tax filing, business reporting, and compliance with Accounting and Corporate Regulatory Authority (ACRA) annual filing obligations. Professional accountants also help ensure that financial information is accurate, complete, and presented in the appropriate format.
Do accounting firms provide payroll services?
Yes. Many accounting firms offer outsourced payroll services, including salary calculations, CPF contribution processing, preparation of itemised payslips, leave and overtime calculations, and payroll reporting. Outsourcing payroll helps businesses improve accuracy, reduce administrative work, and remain compliant with Singapore’s payroll regulations.
Do accounting firms use Xero?
Many accounting firms are experienced in using cloud accounting software such as Xero. Xero enables businesses to automate bookkeeping tasks, connect bank feeds, generate real-time financial reports, issue invoices, and collaborate more efficiently with their accountants. Some firms are also Xero-certified partners and provide implementation, migration, training, and ongoing support.
How do I choose the right accounting firm?
When selecting an accounting firm, consider its experience, qualifications, industry knowledge, service offerings, responsiveness, pricing transparency, and use of cloud accounting technology. It is also important to choose a firm that understands the needs of SMEs and can continue supporting your business as it grows. Requesting a consultation before making your decision can help you assess whether the firm is the right long-term partner for your business.
Final Thoughts
Choosing the right accounting firm is an important investment in your business’s long-term success. There is no one-size-fits-all solution, as every SME has different priorities, budgets, and growth plans. While some businesses may require only bookkeeping and annual financial statements, others may need comprehensive support covering payroll, GST compliance, tax planning, company secretarial services, and cloud accounting.
As you compare accounting firms, look beyond price alone. Consider each firm’s experience, expertise, service quality, technology capabilities, responsiveness, and ability to support your business as it grows. A trusted accounting partner should not only help you meet your compliance obligations but also provide valuable financial insights that enable better business decisions.
Before making your decision, compare several providers, ask about their experience working with businesses like yours, and understand exactly what services are included. If you’re looking for personalised advice tailored to your business, speak with an experienced accounting professional who can recommend the most suitable accounting solution for your current needs and future growth.