Audit Arrangement

We provide practical solutions of statutory audit and non-statutory audit arrangement services for our clients.

Statutory Audit Services:

According to the Hong Kong Companies Ordinance (Cap. 622), every company which is incorporated under Hong Kong Companies Ordinance, the company’s director(s) must, in respect of each financial year, lay before the company in annual general meeting, audited financial statements for the financial year.

Such audit report must be signed by a Hong Kong Certified Public Accountant who possess a valid practicing certificate. The first audit report shall be presented to the shareholders in Annual General Meeting within 18 months after incorporation.

Our CPA business partner are experienced in handling various business audits. Our referred accountant will support in the preparation of statutory audited financial statements according to legal requirements in Hong Kong.

Inland Revenue Department also requires the Hong Kong limited company to submit the profits tax return (Form BIR51) with the audited financial statements for the purpose of tax assessment.

For newly incorporated private companies, the first audited accounts shall be submitted to shareholders for review at the annual general meeting within 9 months (other companies: 6 months) after the end of the financial year for their review at the annual general meeting, the date of which shall not exceed 15 months after that.

The statutory audit is conducted in accordance with Hong Kong Companies Ordinance and Hong Kong Standards on Auditing issued by the Hong Kong Institute of Certified Public Accountants. In the process of auditing, accountants will understand the characteristics of the customer’s industry, the enterprise’s operation mode and management structure, so as to discover potential management and operation problems and provide professional solutions to customer.

CPA provide professional opinions on the true and fair presentation of the clients’ financial statements in audit report, and guide the directors of the Company to fulfill their due responsibilities in accordance with relevant regulations.

Non-statutory Audit Services:

Audit on Technology Voucher Programme (“TVP”)
TVP aims to support local enterprises/organisations in using technological services and solutions to improve productivity, or upgrade or transform their business processes.

An audited statement of income and expenditure for the project from an independent auditor is required if the requested funding exceeding HK$50,000.

Audit on Dedicated Fund on Branding, Upgrading and Domestic Sales (“BUD Fund”)
The Hong Kong Special Administrative Region Government set up a “Dedicated Fund on Branding, Upgrading and Domestic Sales” (“the BUD Fund“) to assist enterprises in exploring and developing the Mainland market through developing brands, upgrading and restructuring their operations and promoting domestic sales in the Mainland.

The Government extended the geographical coverage of the BUD Fund to also include other economies with which Hong Kong had signed Free Trade Agreements (“FTAs”) and all economies with which Hong Kong has signed Investment Promotion and Protection Agreements (“IPPAs”) to assist enterprises in taking the economic opportunities.

i) Applicants opting not to receive initial payment for projects exceeding 18 months in duration:
Mid-term payment will only be made after the progress report and annual audited accounts are accepted by the Government.

ii) Projects with duration of no more than 18 months:
Final payment will only be made after the final report and final audited accounts are accepted by the Government.