The Definitive Guide to hong kong company audit requirement
The Definitive Guide to hong kong company audit requirement
Blog Article
‘The Audit Commission is like an external auditor with a few of the functions of an internal auditor, nevertheless the auditing subjects are government departments and the general public sector,’ Lam points out.
Timely and accurate submission from the PTR, along with the essential financial statements and audit report, is crucial for preserving compliance with Hong Kong’s tax laws and averting penalties.
The precise kinds of paperwork that companies really should sustain for the goal of formulating correct financial statements is outlined during the desk beneath.
A Accredited accountant reviews the files and sends the financial report to the company for approval — 2 months.
Report uncovered Chinese University had not carried out adequate to safeguard national safety, prompting a governing council member to say it focused on ‘petty and trivial concerns’
Nonetheless, like some other point out, Hong Kong has many necessary regulatory requirements needed for the prosperous performing of your enterprise. Permit’s evaluate the main ones in this post.
Acquiring feedback through the auditor and clarifying any thoughts or lacking documents to sustain the knowledge submitted during the Financial Assertion.
A shareholder Conference is mandatory for compliance with Hong Kong corporate regulation. It is held following the end on the financial year in nine months for private companies or 6 months for general public companies.
Share Money. The invested capital is shown in the quantity and worth of shares, representing the contributed capital of your company.
The price could be relatively higher, which could make their services Price tag-prohibitive for some smaller organizations
Concurrently, the auditor will conduct analytical procedures to detect any irregular transactions or designs which could recommend problems or fraudulent things to do.
To boost the transparency and believability on the company during the eyes of partners and counterparties.
This training course really served me acquire information concerning IS audits, controls and assurance. Professors rationalization was great and simply easy to understand. Guest job interview produced me receive useful awareness.
With the increase of engineering, lots of accounting firms in Hong Kong are now delivering services related their explanation to digital transformation, for example cloud accounting, cybersecurity, and details analytics.