Our Services
Accounting
Hong Kong legislation requires enterprises to maintain proper accounting records and fulfill tax filing obligations in a timely manner. This is not only a statutory requirement but also a fundamental pillar for monitoring financial health, supporting strategic decision-making, and optimizing resource allocation. Accurate and timely financial reports assist management in gaining deep insights into business performance, enabling informed judgments in an ever-changing commercial environment.
Scope of Services
- Systematic classification and recording of income, expenditures, and operating expenses
- Providing bookkeeping services to maintain up-to-date accounts
- Reporting in accordance with applicable accounting standards
- Preparation of financial information for presentation to bankers, financial institutions, immigration and potential investors, etc
- Review and advise on financial data for management analysis
- Presentation of Financial Resource Returns (FRR) for SFC licensed corporations
Our Workflow
- Understanding the client's business model and specific accounting requirements
- Guiding the client in organizing and providing the necessary financial documents and business information
- Classifying, recording, and preparing financial statements based on professional standards and information received
- Presenting draft reports to the client for verification to ensure the content reflects the actual business status
- Providing relevant assistance to facilitate tax filing, statutory audit, and management requirements
Audit and Assurance
Audit and Assurance is a professional verification procedure conducted by an independent Certified Public Accountant (Practising) to provide an opinion on whether a company’s financial statements reflect a true and fair view of its financial position. Under the Hong Kong Companies Ordinance, all limited companies incorporated in Hong Kong, regardless of their scale of operations, are required to appoint a practicing CPA to perform a statutory audit of their financial statements annually.
Who Requires a Statutory Audit?
- Hong Kong Companies Limited by Shares
- Hong Kong Companies Limited by Guarantee
- SFC Licensed Corporations
- Limited Partnership Funds (LPF)
Statutory Audit Process
- Companies confirm the accounting year-end date, ensuring the first financial period does not exceed 18 months.
- Organize bank statements, invoices, contracts and financial statements for auditor review
- Auditors evaluate the business model and identify potential risks to devise a tailored audit strategy
- Conduct sampling tests based on auditing standards, including external confirmations for banks/clients and verification of significant transactions
- Propose necessary accounting adjustments for identified errors to ensure the accuracy of financial data
- Issue the formal audit report for directors’ signature and facilitate submission to the Inland Revenue Department
Agreed-Upon Procedures Engagement
An Agreed-Upon Procedures (AUP) engagement is a specialized audit service designed to meet the specific needs of a client. It involves performing audit procedures on financial data, business processes, or compliance matters that have been pre-agreed between the practitioner and the client. Unlike a full-scope audit, the Certified Public Accountant does not express an audit opinion. Instead, a "Report of Factual Findings" is issued based on the results of the procedures performed. This service provides neutral and precise analytical data, effectively assisting management or third-party institutions in making critical professional judgments.
Common Examples of Agreed-Upon Procedures Engagements
- Government Funding Audits
- Organization or Programme Audits
- Sales Certifications
- Verification of Assets
- Mergers and Acquisitions Due Diligence
- Compliance Reviews for Licensed Corporations
Taxation
Hong Kong is renowned for its simple and low-tax system, primarily encompassing three major categories: Profits Tax, Salaries Tax, and Property Tax. Under the Inland Revenue Ordinance, corporations and individuals are required to report their income to the Inland Revenue Department within stipulated deadlines. Accurate tax filing not only ensures compliance and avoids penalties or legal risks arising from delays or errors, but also reflects a fair financial position through professional tax computation, establishing a robust credit record for both businesses and individuals.
Scope of Services
- Preparation of Profits Tax computations and submission of tax returns for corporations and individual clients.
- Provision of professional planning advice on Profits Tax, Salaries Tax, and Stamp Duty to optimize tax compliance costs.
- Representation for corporations or individuals in handling Inland Revenue Department investigations and field audits.
- Applying for advance rulings from the Inland Revenue Department to provide tax certainty for complex transactions or operational structures.
- Professional consultation on Transfer Pricing rules and regulations.
- Assistance in the submission of Country-by-Country Reporting notifications.
- Preparation of Master Files and Local Files in accordance with statutory requirements.
- Assistance in applying for the "Certificate of Hong Kong Tax Resident Status."
Business Advisory
Beyond providing essential support in accounting, auditing, and tax filing, we empower enterprises to navigate complex operational challenges and achieve long-term strategic objectives. Our comprehensive consultancy spans the entire corporate lifecycle—from initial licensing applications for startups and the implementation of Corporate Governance and ESG compliance during growth phases, to pre-IPO planning for mature enterprises, and professional liquidation services during business dissolution. We provide holistic advisory through a professional financial and taxation lens.
Scope of Services
- Environmental, Social, and Governance (ESG) Reporting
- Licensing Applications & Listing Support
- Tax Planning
- Corporate Governance & Compliance Advisory
- Liquidation Services
Corporate Services
We provide comprehensive administrative and compliance support throughout the entire corporate lifecycle. From initial structural setup and ongoing compliance maintenance to the eventual liquidation and dissolution phase, our primary objective is to simplify complex statutory procedures. We ensure that your enterprise operates steadily within the framework of the Companies Ordinance and other relevant regulations, empowering businesses to focus on growth without the burden of intricate compliance matters.
Scope of Services
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Hong Kong Company Formation
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Offshore Company Formation
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Company Secretarial Services
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Registered Office Address
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Certified True Copies
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Document Translation
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