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Tel：+86 400 118 5939According to the Hong Kong Companies Law and Inland Revenue Ordinance, Hong Kong limited companies must conduct annual accounting audits (also known as Hong Kong company audits) to report the company's financial status to shareholders, directors, and the Inland Revenue Department, regardless of whether they have profits. This is the basic responsibility of the company. An audit report, in addition to being accountable to the tax bureau, has a good promoting effect on the company's dealings with the government. It is also the most important evidence for future financing, borrowing, etc., which is sufficient to explain the financial situation of your company to the financing target. So what are the main contents of accounting audit for Hong Kong companies?
In fact, accounting and auditing for Hong Kong companies is not only about bookkeeping and auditing, but also includes tax reporting. After bookkeeping and auditing, tax reporting is also necessary. These three steps are indispensable. Let's take a look together.
1. Hong Kong company bookkeeping:
2. Hong Kong company audit:
Hong Kong certified public accountants determine which corporate standards a company is suitable for based on its structure, size, requirements, etc. They strictly follow necessary audit procedures and issue audit reports according to the appropriate corporate standards.
3. Hong Kong company tax reporting:
Hong Kong certified public accountants confirm the transaction situation, calculate the profit situation of the business entity, and truthfully report the profit situation and tax payable amount to the Hong Kong Inland Revenue Department.
Throughout the entire process, the most important thing is to organize detailed accounting and auditing materials. Hong Kong companies need to provide vouchers for accounting and auditing, mainly including business-related expense documents, purchase and sales contracts, shipping documents, bank receipts, and other information that occurred during the corresponding accounting period. Next, let's take a look at the materials that Hong Kong companies need to provide for accounting audits:
1. Basic information of Hong Kong company:
Including company registration certificate, business registration certificate, articles of association, latest annual declaration form, all company change documents (if any), etc;
2. Documents and information related to business within the accounting period of the Hong Kong company:
(1) All monthly bank statements, as well as bank receipts for payment to suppliers, bank receipt receipts, bank receipt notifications, cash deposit and withdrawal receipts, etc;
(2) Orders, contracts, and sales invoices between customers;
(3) Purchase orders, contracts, and purchase invoices issued to suppliers;
(4) Logistics documents involved in the transportation process, such as bills of lading, customs declarations, delivery notes, etc;
(5) Receipts and bank receipts for the receipt and payment of funds to and from the company's directors and shareholders;
3. Expense related receipts:
Investment related documents, contracts and receipts for purchasing fixed assets, tools, cash payment receipts, salary, rent, office expenses, entertainment expenses, transportation expenses, and other related documents.
4. Other documents:
The audit report of the Hong Kong company for the previous year (not required if it is the first accounting) and the tax declaration form issued by the Hong Kong Inland Revenue Department to the Hong Kong company.
It should be noted that the audit report of a Hong Kong company needs to be issued by a third-party licensed Hong Kong accountant, and the audit report issued by them should be submitted as an attachment to the tax return to the Hong Kong Inland Revenue Department for tax declaration.
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