Why Is It Better to Consult an Accounting Firm in Singapore

Advancements in technology have helped many businesses in cutting operation time and cost. Many business operations today are being automated for those reasons. One of the known business functions that are automated nowadays is accounting. With the presence of AI auditing solutions, accounting firms see a decline in terms of customer count. But can we rely solely on AI for our audit and financial advisory services? Here’s why we believe that an accounting firm will still prevail.

AI is too objective and can miss human nuances

Objectiveness is essential in preparing audit reports. However, human subjectivity can still make a lot of positive influence in generating insightful reports. What an AI can miss can be seen or observed by an experienced audit firm in Singapore. It is also much easier to communicate with humans than with computers, especially if you are still new to accounting.

An Audit Firm Can Offer Insights

AIs are designed to collect, store and generate data. They may be insufficient when formulating insights out of the data being derived. Thus, you will still need to interpret the data to come up with solutions to certain problems or to take appropriate actions. With the help of an experienced accounting firm, your contingency, financial and sustainability reporting will be more insightful and less taxing.

Accounting Firms Can Help You With IPO

Unlike an AI application, an accounting firm can help you with business registration in Singapore. Most audit firms are offering IPO advisory services to help businesses in tax compliance and other legal matters. Apart from this support, an accounting firm can also give you sound financial advisory that you can use for decision-making.

Nexia TS is an established accounting firm in Singapore that has helped many businesses in IPO listings and other commercial law compliances. We have various services to help you grow your business and find a stable footing in the industry. Visit us today!