Document background
An Intercompany Balance Confirmation Letter is a crucial document used to verify and document financial positions between related corporate entities. This document is particularly important in Singapore's robust financial reporting environment, where it helps ensure compliance with the Companies Act and Financial Reporting Standards. It serves multiple purposes: supporting audit requirements, maintaining accurate financial records, and facilitating group consolidation processes. The letter typically includes current balance positions, transaction summaries, and may be required quarterly or annually, depending on corporate policies and regulatory requirements.
