According to the Companies Ordinance, annual financial statements of a limited company incorporated in Hong Kong is required to be audited by a Certified Public Accountant with a practicing certificate issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”). Our work follows the Hong Kong Accounting Standards and Auditing Standards as required by the HKICPA and is under the governance of the institute’s ethical standards which emphasises on the independency of the reporting accountants and the confidentiality of clients’ information.

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We perform our audit engagements by reference to the auditing standards issued by the HKICPA while at the same time we will assess the business nature and the special situation of each client in order to carry out a risk-based approach for an efficient audit.

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• Audit Service

One of the statutory requirements under the Inland Revenue Ordinance states that a limited company incorporated in Hong Kong has to submit its Profits Tax Return together with the audited financial statements. Moreover, according to the Hong Kong Companies Ordinance Cap. 622 section 380 and section 610, limited company should prepare its audited financial statements and lay before its annual general meeting.

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According to Hong Kong Companies Ordinance Cap 622 section 379, Directors must prepare financial statements for each financial year statements. A director of the company wilfully fails to take all reasonable steps to secure compliance the with section 379, the director commits an offence and is liable to a fine of $300,000 and to imprisonment for 12 months.

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