At Global CPA, we understand the importance of maintaining proper accounting records and complying with statutory auditing requirements in Hong Kong. As a professional Certified Public Accountants firm registered under No.S80 of the Hong Kong Institute of Certified Public Accountants (HKICPA), we have extensive experience in providing accounting and auditing services to businesses of all sizes.
Hong Kong has a reputation for being a business-friendly environment with a low tax rate and a simple tax system. However, it is important for companies to ensure that they comply with the accounting and auditing requirements set by the Hong Kong government. Failure to comply with these requirements can result in penalties and fines.
Every company registered in Hong Kong must maintain proper accounting records, which can be kept outside Hong Kong. However, records sufficient to enable a profit and loss account and balance sheet to be prepared should be sent and kept in Hong Kong. The accounting records with all supporting vouchers and supporting documents must be kept for at least seven years from the end of the financial year in which the transactions or operations to which they relate are completed. These records must also be made available for inspection by the Inland Revenue Department (IRD) upon request.
In addition, Hong Kong limited companies, including private and public companies and branches of foreign companies, are required to perform statutory audits by independent certified public accountants of Hong Kong. Statutory audits are a legal requirement in Hong Kong, and they are designed to provide an independent opinion on the accuracy and completeness of a company's financial statements.
At Global CPA, we have a team of experienced and qualified accountants who can assist companies in meeting their accounting and auditing requirements in Hong Kong. Our team is familiar with the local regulations and requirements and can provide tailored solutions to meet the specific needs of each client.
Moreover, as a firm with special experience in international business since China opened its doors in 1991, we have extensive knowledge and expertise in providing services to companies with international operations. We understand the complexities and challenges of doing business in different jurisdictions and can provide guidance and support to ensure that companies comply with local regulations and laws.
We also offer a range of other accounting and finance services to support our clients' business needs. These include tax planning and compliance, business advisory, financial due diligence, and risk management. Our aim is to create opportunities and enhance not only the management efficiency and effectiveness but also the business competitiveness of our clients in this world of globalization.
In summary, compliance with accounting and auditing requirements is critical for companies operating in Hong Kong. At Global CPA, we have the expertise and experience to assist companies in meeting these requirements while also providing tailored solutions to support their business needs. Our team is committed to delivering high-quality services that create value for our clients and help them achieve their long-term goals.