Accounting & HK Audit services in Hong Kong made simple.
What is Statutory Audit?
Statutory Audit is one type of compulsory auditing as mandated by Hong Kong’s Law and it is one of the on-going compliance requirements for Hong Kong companies. Every Hong Kong-incorporated company must appoint qualified and independent auditors to perform yearly statutory audits on their accounts.
Who can perform the Audit?
The auditor must be a Certificated Public Accountant (“CPA”) qualified under the Professional Accountants Ordinance and must hold a Practicing Certificate issued by the Hong Kong Institutes of Certified Public Accountants (“HKICPA”).
Note: The HKICPA is the sole licensed entity that is able to register and certify public accountants in Hong Kong.
Process of Auditing.
- Draft the auditing plans
- Understand and make remarks/suggestions on the internal controlling system of the company,
- Assemble and record relevant information
- Compliance testing
- Substantive control
- Draft the auditing report and forward to the company (that has been audited)
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