Services
Audit Arrangement
An audit provides a rigorous and independent examination of an organization’s financial records, processes, or systems. Its primary purpose is to verify accuracy and ensure compliance with applicable standards and regulations. By delivering this objective assurance, an audit significantly enhances an organization’s credibility and reputation, fostering trust among stakeholders, investors, lenders, and regulatory bodies.
Requirements in Hong Kong:
For limited companies incorporated in Hong Kong, an annual audit is a statutory obligation. Specifically:
Section 122 of the Hong Kong Companies Ordinance (Cap. 622) mandates that the financial statements of every Hong Kong limited company must be audited by a Certified Public Accountant (Practising) registered in Hong Kong.
Furthermore, the Hong Kong Inland Revenue Department (IRD) requires companies to submit their Profits Tax Returns accompanied by the audited financial statements within specified deadlines for tax assessment purposes. Failure to comply can result in penalties.
Our Comprehensive Assurance Services:
We provide a full suite of professional audit and assurance services tailored to meet your specific needs and regulatory requirements, including:
Statutory Audit: Compliance with the Hong Kong Companies Ordinance and relevant accounting standards
Internal Audit: Independent reviews of internal controls, risk management, and governance processes
Project Audit: Examination of specific projects for cost control, adherence to budget, and contractual compliance
Government Funding & Special Project Audit: Assurance for grants, subsidies, and government-mandated projects
Turnover Certificate Reports: Independent verification of declared turnover.
Broker Compliance Audit: Limited assurance for compliance with the Insurance (Financial and Other Requirements for Licensed Insurance Broker Companies) Rules
Retirement Scheme Related Audit: financial statements audit of an occupational retirement scheme ordinance (ORSO) scheme and employer’s auditor’s statement (Form A)
Owners’ Corporation Financial Reporting: Audit and reporting services for building management bodies.
Financial Due Diligence: In-depth financial analysis for mergers, acquisitions, and investments.