In Singapore’s vibrant business ecosystem, companies of all sizes require expert accounting services for compliance, strategy, and growth. Choosing an accounting service provider in Singapore can be a defining decision for your business’s growth and compliance strategy. From globally renowned Big 4 firms to agile local firms and modern outsourced solutions, each option offers distinct benefits and considerations.
Over 70% of SMEs in Singapore now rely on outsourced or local accounting firms to manage financial compliance and scalability. Whether you’re a startup, an SME, or a multinational corporation, understanding the distinctions between the Big 4 accounting firms, local accounting providers, and outsourced service solutions is critical to making the right financial decision. This comprehensive blog will help you evaluate your choices with clarity and confidence.
Content Outline
Key Summary
Understand the Landscape
Explore the structural differences, service capabilities, and business models across the Big 4, local firms, and outsourced accounting providers.
Evaluate Service Levels
Big 4 firms excel in complex, multi-jurisdictional compliance and advisory, whereas local firms and outsourced solutions suit SMEs and startups seeking agility.
Prioritise Cost, Customisation & Compliance
Your business stage, budget, regulatory obligations, and need for customisation should guide your decision.
What are the Big 4 Accounting Firms in Singapore?
The Big 4, KPMG, PWC, EY, and Deloitte, are internationally renowned for their comprehensive audit, tax, and consulting services. These firms have established operations in Singapore and cater primarily to large corporations, publicly listed entities, and multinational organisations.
Also Read: The Ultimate Guide to Offshore Accounting
KPMG Singapore
KPMG Singapore is known for its audit and tax expertise. It also leads in areas such as:
- Risk and regulatory compliance
- Digital transformation consulting
- ESG advisory for sustainable reporting
- Mergers and acquisitions
KPMG often supports government-linked companies and financial institutions, providing end-to-end advisory services.
PWC Singapore
PWC Singapore offers services in assurance, tax, deals, and consulting. It is particularly strong in:
- Digital assurance and data analytics
- Cybersecurity and risk management
- IPO readiness and corporate restructuring
- Transfer pricing and tax compliance
PwC is often the go-to for companies preparing for regional expansion or seeking investor relations support.
EY Singapore
Ernst & Young (EY) excels in innovation-led services. EY provides:
- Digital strategy and performance improvement
- International tax and mobility services
- Transaction advisory
- Blockchain and fintech consulting
Its focus on emerging technologies makes EY a strong partner for start-ups and tech firms.
Deloitte Singapore
Deloitte Singapore delivers:
- Audit and enterprise risk services
- Financial advisory and restructuring
- Forensic and analytics services
- Digital supply chain and operations consulting
It is preferred by large-scale enterprises looking for robust operational optimisation and global scalability.
Also Read: Case Study: How a Singapore Accounting Firm Set Up a Remote Team in Malaysia
Local Accounting Firms in Singapore
Local accounting firms provide targeted support for small and medium enterprises (SMEs), startups, and family-owned businesses. They are often led by experienced CPAs and former Big 4 professionals.
Also Read: Benefit of Outsourcing Accounting to Malaysia
Common Traits of Local Firms:
- Deep understanding of Singapore’s local tax system (IRAS)
- Multilingual services in Mandarin, Malay, Tamil, and English
- Affordable packages tailored to startups and SMEs
- Industry-specific expertise in sectors like retail, F&B, eCommerce, and logistics
Notable firms include:
- OA International Holdings – Known for audit and compliance for SMEs
- Ackenting Group – Focused on cloud-based accounting and payroll
- KC Ha Consulting – Strong in local tax advisory and incorporation services
Services Provided by the Big 4 Singapore
The Big 4 firms typically provide integrated professional services including:
Audit & Assurance
- Financial statement audits
- Internal controls and regulatory audits
- Public company audit support
Tax Services
- Corporate tax compliance and planning
- Cross-border tax structuring
- Transfer pricing documentation
- Indirect taxes (GST, withholding)
Advisory & Consulting
- Financial due diligence and valuation
- Risk management and compliance
- Technology strategy and systems integration
- ESG advisory and climate risk
These services are ideal for publicly traded companies, regional HQs, or firms with international operations.
Also Read: Offshore Accounting: Top 10 Offshore Roles For Accounting
An array of Services by Local Accounting Firms
Local firms offer a more tailored and accessible approach. Services often include:
- Bookkeeping & Cloud Accounting – Using platforms like Xero or QuickBooks
- Corporate Secretarial Services – Annual filings, AGM documentation, ACRA compliance
- Payroll Services – CPF calculations, payslips, IR8A/IR21 preparation
- Tax Filing – Corporate Income Tax (Form C/C-S), GST returns, and withholding tax
- Compilation of Unaudited Financial Statements – In line with SFRS
Some local firms also specialise in grants application (like PSG or EDG) and startup incorporation services.
Pros and Cons of Working with the Big 4 Singapore
Pros:
- High credibility and assurance for investors or IPOs
- Access to vast industry knowledge and technical resources
- Global network for cross-border support
- Enhanced corporate governance and internal controls
Cons:
- Higher cost of engagement
- Complex onboarding process
- May not cater effectively to SME needs
- Less flexible or personalised service approach
Pros and Cons of Working with Local Accounting Firms
Pros:
- Competitive pricing and transparent packages
- Personalised client relationships
- In-depth knowledge of local compliance needs
- Quicker turnaround and direct access to consultants
Cons:
- Limited service offerings in areas like M&A or global tax
- Smaller teams may impact scalability
- Limited international support or network
Outsource Accountants with FastLaneRecruit
Outsourcing your accounting functions to FastLaneRecruit combines reliability, cost-efficiency, and scalability, all while leveraging local expertise and cloud technology.
Why Choose Outsourced Accounting?
- Eliminate the need for in-house finance staff
- Access to experienced professionals without full-time costs
- Real-time reporting through platforms like Xero
- Timely compliance with IRAS and ACRA deadlines
- Scalable packages for growing companies
FastLaneRecruit’s outsourced solutions are suitable for SMEs, startups, and businesses exploring expansion in Asia without increasing overhead. Explore our accounting services to learn more.
Also Read: How Remote Accounting Services Can Improve Your Business
Factors to Consider When Choosing Between the Big 4, Local Firms and Outsourcing
1. Complexity of Your Business Structure
If you operate across multiple jurisdictions or have a complex corporate structure, Big 4 firms may offer the depth of expertise you need.
2. Budget Allocation
SMEs often benefit more from outsourcing or local firms to maintain lean financial operations without sacrificing quality.
3. Stage of Growth
Startups can rely on outsourced services for flexibility, while IPO-ready companies may need audit services from a Big 4 provider.
4. Regulatory Requirements
For regulated industries such as finance or healthcare, choose providers with demonstrated compliance expertise.
5. Technological Integration
Outsourced accounting with FastLaneRecruit offers cloud integration, enabling remote financial management and real-time insights.
| Feature / Service | Big 4 Firms (KPMG, EY, PwC, Deloitte) | Local Firms (Singapore-based SMEs) | Outsourced Accounting (FastLaneRecruit) |
|---|---|---|---|
| Target Clients | MNCs, Listed Companies, IPO Candidates | Startups, SMEs, Family Businesses | Startups, SMEs, Regional Businesses |
| Cost | $$$ – High | $$ – Moderate | $ – Affordable & Flexible |
| Service Scope | Full suite incl. audit, M&A, consulting | Core compliance, tax, and secretarial | Core accounting, tax, payroll, reporting |
| Personalised Attention | Low – Account Managers, layered teams | High – Direct access to senior staff | High – Dedicated team with responsive support |
| Regulatory Compliance (IRAS / ACRA) | Strong | Strong | Strong |
| Cross-Border Support | Extensive global network | Limited | Regional expansion support (Asia-focused) |
| Technology Integration (e.g. Xero) | Moderate to advanced (varies by firm) | Varies – Some use cloud solutions | Advanced – Xero-certified and cloud-native |
| Scalability | High but costly | Moderate | High – Scalable packages for growth |
| Turnaround Time | Slower due to complexity | Faster due to lean structure | Fast – Real-time updates, automation |
| Industry Specialisation | Broad, especially regulated sectors | Strong in niche industries (F&B, retail) | Tailored for tech, eCommerce, service sectors |
| Best For | Complex, regulated, or listed companies | Budget-conscious local businesses | Agile, growing companies seeking efficiency |
Conclusion: What’s Best for Your Business?
There is no one-size-fits-all approach when it comes to choosing accounting services in Singapore. Each option – Big 4, local firms, and outsourcing has distinct advantages. The right choice hinges on your business size, compliance needs, international exposure, and budget. For SMEs and startups looking for cost-effective, technology-driven, and flexible solutions, outsourcing with FastLaneRecruit offers an ideal balance of value and expertise.
Outsource with FastLaneRecruit Now!
If your business is looking for a reliable, scalable, and cost-efficient accounting solution, outsourcing with FastLaneRecruit is the ideal choice. Our team of experienced accountants delivers high-quality financial services tailored to your specific needs, ensuring compliance, accuracy, and strategic financial planning.
By partnering with FastLaneRecruit, you gain access to:
- Dedicated Accounting Experts – Skilled professionals well-versed in Singapore’s financial regulations.
- Customizable Solutions – Services that scale with your business growth.
- Cost Savings – Eliminate the overhead of hiring full-time accountants.
- Efficiency & Accuracy – Streamlined processes to enhance financial reporting and tax compliance.
Whether you’re a startup, SME, or expanding enterprise, outsourcing your accounting functions allows you to focus on core business operations while leaving financial management to the experts.
Take the next step toward financial efficiency, Contact FastLaneRecruit today to learn how our outsourced accounting services can empower your business.
Frequently Asked Questions (FAQs)
1. What are the Big 4 accounting firms in Singapore?
The Big 4 firms in Singapore include KPMG, PwC, EY, and Deloitte. These global firms offer audit, tax, advisory, and consulting services and are typically chosen by multinational corporations and listed companies.
2. When should I choose a local accounting firm in Singapore?
Local accounting firms are ideal for SMEs, startups, and family-run businesses that need affordable, localised expertise in Singapore’s tax and regulatory landscape, often with more personalised service.
3. Is outsourcing accounting to Malaysia a viable option for Singapore businesses?
Yes. Outsourcing with a provider like FastLaneRecruit gives you access to cost-effective, scalable, and cloud-enabled accounting solutions, with teams well-versed in Singapore’s compliance needs, without the high overhead costs of hiring in-house.
4. How does FastLaneRecruit differ from a traditional local firm?
FastLaneRecruit combines local compliance expertise with cloud accounting technologies like Xero, offering real-time reporting, automated workflows, and cost-saving packages tailored to startups and SMEs.
5. Is my company’s data secure when outsourcing accounting?
Absolutely. FastLaneRecruit prioritises data privacy and security, using encrypted platforms and secure document workflows to protect client information in compliance with Singapore’s PDPA regulations.
6. Can outsourced accounting support my business as it grows?
Yes. FastLaneRecruit offers scalable packages that evolve with your company’s growth stage—whether you’re starting out, expanding regionally, or preparing for funding rounds.
7. Which is more cost-effective: local firm or outsourcing?
Generally, outsourcing is more cost-effective as it eliminates the need for full-time staff, office space, and admin overheads—while still providing expert-level services and compliance support.
