As a new set-up, there are very few business transactions and my company do not require the services of a full time accountant. Can we outsource our accounting functions ?
There are many professional firm that can perform the accounting and administration functions for your company. Depending on the amount of financial transactions, you can choose to have the accounts prepared on a monthly, quarterly, half-yearly or yearly basis. The professional firm will usually assist in finalizing the accounts based on FRS and submit same to the authorities on your behalf after obtaining your concurrence on the accounts prepared. A good consultant will be able to advise you on tax planning opportunities available prior to finalizing the year end account.
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