A Gross Turnover Audit (GTO Audit) is an independent review of a business’s total revenue. It ensures that the reported turnover is accurate and in line with regulatory or contractual requirements. Many businesses need this audit for licensing, grant applications, franchise agreements, or tenancy contracts.
At TNPL, we specialise in providing GTO audits in Singapore. Our team ensures that your turnover records are verified, accurate, and compliant with regulations. Whether you run a small business or a large corporation, we make the audit process smooth and hassle-free.
Benefits of Gross Turnover Audit (GTO Audit)
A GTO audit is not just about compliance. It also helps businesses build trust and avoid financial risks.
1. Compliance with Regulations
Some businesses must submit audited turnover figures to landlords, franchisors, or government agencies. A GTO audit ensures that your records meet these requirements.
2. Greater Business Credibility
Stakeholders, investors, and financial institutions trust audited figures. A GTO audit adds credibility to your financial reports, helping you secure loans, grants, or partnerships.
3. Avoidance of Legal or Financial Issues
Incorrect turnover figures can lead to fines, contract breaches, or even legal action. A GTO audit protects you from these risks by ensuring accuracy in your revenue reporting.
4. Smooth Business Operations
With proper financial records, you can make informed business decisions. It also makes tax filing and financial planning easier, reducing the risk of errors.
5. Faster Loan and Grant Approvals
Lenders and grant providers often require audited turnover figures before approving applications. A GTO audit speeds up these processes, ensuring that you have the right documents in place.
What Documents Are Required for GTO Audit?
To conduct a GTO audit in Singapore, businesses must provide several key documents. These records help auditors verify revenue figures and ensure compliance.
1. Financial Statements
- Profit & Loss (P&L) statement
- Balance Sheet
2. Sales Invoices and Receipts
- Evidence of revenue transactions
- Supporting documents for cash and credit sales
3. Bank Statements
- To match revenue figures with actual cash inflows
4. Tax Filings
- GST returns (if applicable)
- Corporate tax filings
5. Contracts or Agreements
- Franchise agreements, rental agreements, or other relevant documents that impact turnover calculations
We provide a detailed checklist to help businesses prepare these documents before the audit begins. Our goal is to make the process as simple and efficient as possible.
Why Choose TNPL for Your GTO Audit?
There are many audit firms in Singapore, but TNPL stands out for its expertise, efficiency, and client-focused approach.
Expertise in Singapore’s Audit Standards: We have extensive experience in GTO audits and understand Singapore’s regulatory landscape. Our auditors ensure that your reports meet industry standards.
Simple and Hassle-Free Process: Our team handles the entire audit process, reducing the workload for business owners. We guide you through document collection, verification, and reporting.
Transparent and Competitive Pricing: We offer straightforward pricing with no hidden fees. Our audit services are cost-effective and designed to suit businesses of all sizes.
Personalised Support: Every business has unique needs. We take the time to understand your industry, revenue model, and compliance requirements to provide tailored solutions.
Fast Turnaround Time: Meeting deadlines is critical, especially for licensing and financial reporting. Our efficient process ensures that your GTO audit is completed on time without delays.
How to Get Started?
Getting your GTO audit in Singapore is easy with TNPL.
- Schedule a Consultation – Contact us to discuss your audit needs.
- Prepare the Required Documents – Our team will guide you through the process.
- Audit Process Begins – We verify your turnover records and complete the audit.
- Receive Your Audit Report – A clear and detailed report is provided upon completion.