Affordable GTO/Sales Turnover Audit Services Singapore
- ken lee
- Mar 26
- 2 min read
GTO/Sales Turnover Audit
In the competitive world of business, understanding and verifying your sales turnover is crucial for strategic decision-making and financial integrity. At Koh & Lim Audit PAC, we specialize in providing meticulous GTO Audit Services Singapore/Sales Turnover Audit services to ensure that your sales figures are accurate, reliable, and compliant with relevant standards. Our dedication to precision, transparency, and client satisfaction makes us the ideal partner for your audit needs.
What is a GTO Audit in Singapore?
A Gross Turnover Audit (GTO Audit) in Singapore is an independent financial verification process conducted to assess and confirm the gross turnover or gross sales revenue of a business, typically required by landlords, franchisors, or regulatory authorities. This type of audit is crucial for businesses operating in shopping malls, retail spaces, and franchised businesses where rental agreements, revenue-sharing contracts, or franchise fees are based on a percentage of the company’s turnover.
Purpose of a GTO Audit in Singapore
GTO audits serve several important purposes:
Ensuring Compliance with Lease AgreementsMany shopping malls in Singapore require tenants to pay rent based on a fixed fee plus a percentage of their gross turnover. A GTO audit ensures that tenants report their revenues accurately and fairly, preventing any underreporting that could lead to disputes with landlords.
Verification of Franchise RoyaltiesFranchise businesses often pay royalties based on a percentage of sales. A GTO audit ensures that the franchisor is receiving the correct payments and that the franchisee is complying with contractual obligations.
Enhancing Financial TransparencyA GTO audit helps maintain transparent financial reporting, reducing the risk of fraud or misrepresentation of revenue figures.
Facilitating Loan and Investment ApprovalsBusinesses seeking bank loans or investor funding often require a third-party validation of their sales revenue. A GTO audit provides financial credibility that enhances business valuation and trustworthiness.
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