Arrangement of Audit
According to the Company Law, the annual financial report of Hong Kong Limited Company must be audited by a certified public accountant who holding a practising certificate, and the accountant must possess professional qualifications and be recognized by relevant laws.
At the same time, in accordance with one of the requirement of the Hong Kong Inland Revenue Ordinance, a Limited Company registered in Hong Kong must submit its profits tax return, together with financial statements signed and audited by an accountant. In addition, in accordance with Sections 111 (1) and 122 (1) of Chapter 32 of the Hong Kong Companies Ordinance, a Limited Company shall prepare audited financial statements and submit them at the annual general meeting. Therefore, a newly established Limited Company must prepare the first audited financial statements within 18 months from the date of establishment.
In addition, in order to protect interests of shareholders, some clients' shareholders will also require the auditors to properly audit the financial statements of the Company in the following situations:
- Investigation of Mismanagement
- Sale of business and related valuation
- Mergers or acquisitions
- Operational efficiency and management performance assessment
The auditing work we arrange is fully complies with the auditing guidelines of the Hong Kong Institute of Certified Public Accountants (HKICPA), however, we will also follow the client's business characteristics and special requirements and adopt a risk-led approach to achieve an efficient auditing work.