Advenz gives me good advice on complex accounting

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About the client

Richmond Associates is an executive search firm which specialises in recruiting professionals for fundraising and advancement roles (i.e. alumni relations, stewardship, marketing communications). Founded in 1999 in London, the company went on to work with global education, arts and cultural, health, and charitable organisations. In 2011, the second office was set up in Sydney.

Richmond Associates operates in London, UK and Singapore

From uncertainty to a smooth incorporation process

In 2019, Richmond Associates sought to expand to Singapore in partnership with Ms Chua Beng Hwee, an expert in supporting fundraising professionals. The next step was to set up a local company with the London entity and Beng Hwee as shareholders. However, while Singapore is an open and easy place to set up businesses, there were various important areas to constantly stay on top of – from setting up a company with foreign shareholders and directors, complying with statutory regulatory requirements, to keeping up with annual tax compliance.

Partner & Director of Richmond Associates Singapore, Ms Chua Beng Hwee

I needed professional help, and Advenz came highly recommended,” says Beng Hwee. I had a conversation with Jaslin [Managing Partner of Advenz], found her reliable and very thorough.” Shortly, she appointed Advenz to ensure a smooth incorporation process in Singapore.

Expanding the partnership

A year later, with rising demand for the services offered by Richmond Associates in Singapore, Beng Hwee realised that working with a reliable accounting firm would allow her to focus all her time and energy on running the business. As she had a seamless and hassle-free experience with Advenz in the past when incorporating her company, it was an easy decision to deepen the partnership by engaging them for accounting services.

I am not trained in accounting, and Jaslin has been able to give us good advice on complex accounting, such as recording intra-company expenses for three entities in different countries,” says Beng Hwee. “In the two years we have worked together, Jaslin’s team has been very patient and clear in instructions. They also give me a monthly management report, which I’ve never received previously. And if I’m late in submitting something, they will always remind me!”

For business owners who are not trained in bookkeeping, Advenz provides support and timely reminders to clients, so as to ensure that all the boxes are ticked for statutory regulatory requirements and tax compliance. By leaving bookkeeping to the professionals, you can focus on scaling the business.