How We Work
We assure compliance with applicable reporting standards and identification of internal control issues
Xero Based Audit
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What We Do
Mandatory audits of financial statements to ensure compliance with local regulations and accounting standards
Special Purpose Audit
Audits for specific purposes such as forensic investigations, fraud detection, or agreed-upon procedures tailored to meet unique client needs
Audit of Non-Profit Organizations
Audits for non-profit organizations to ensure accountability, transparency, and compliance with applicable regulations
Consolidated Financial Statements Audit
Auditing consolidated financial statements for groups of companies to verify their accuracy, intercompany transactions, and elimination of any duplication or errors
What Do Our Clients Say About Us
Frequently Answered Questions
A financial audit is carried out by an auditor to offer an assessment adhere to Accounting Standards. Through the collection of evidence, the auditor aims to ascertain the presence of significant errors or other misstatements in the statements, ensuring that the information is verified to a reasonable extent.
Every limited company formed in Hong Kong, including those operating overseas, must undergo an annual audit of their company accounts. Compliance with this requirement is mandatory for all limited companies in Hong Kong according to the Hong Kong Companies Ordinance and Inland Revenue Ordinance. Thus, it is necessary to file a Statutory Audit in accordance with the Hong Kong Financial Reporting Standards.
An independent CPA (Practising) will audit the financial statements and accounting records. Sufficient audit evidence will be gathered to enable the CPA to form an opinion on the accuracy of the financial statements in accordance with Accounting Standards, ensuring they are free from material misstatement with a reasonable level of assurance.
The auditor needs the company’s management accounts, which include
- Trial balance
- Balance sheet
- Profit and loss statement
- General ledger
Once these accounts have been gathered, the auditor can begin auditing the company’s financial records. Along the way, the auditor will need to collect supporting documents to verify the entries in the management accounts.
Supporting documents that the auditor may need:
- Bank statements
- Other documents that support the entries in the management accounts
An auditor is an independent Certified Public Accountant (Practising) registered with HKICPA. Their expertise lies in providing audit services to companies in Hong Kong. After completing the audit, the auditor prepares an audit report and provides an audit opinion based on their findings. This ensures the highest level of professionalism and accuracy in financial assessments.