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Gross Sales Audit

Retail tenants and commercial real estate professionals should be aware of a common provision in leases known as gross turnover. This provision relates to extra rent paid based on a percentage of gross sales. Gross turnover provision can be found in leases of certain commercial spaces such as shopping malls and other multi-tenant retail spaces.

At the end of each of the tenant’s financial year, a statement of the tenant’s gross turnover duly audited by the tenant’s auditor is normally required to submit to the landlord.

The certification of the tenant’s auditors shall be accepted by the parties as conclusive of the amount of the gross turnover of the relevant period. Monthly rent payable is determined from the base rent component as well as the amount calculated in accordance with gross sales provision.

If your landlords are asking that you have your sales figures certified by a public accountant, we provide sales audit services for the purpose of presenting audited financial statements to landlords.

We require the following documents to complete the audit:-

  • Bank statements and bank deposit slips
  • Monthly reports submitted to landlords
  • System-generated sales reports

Please feel free to call us at +65 6871 4272 or drop us an email to for a quote. For further inquiries, please contact us for a non-obligatory consultation.