Our teams of Certified Public Accountants (practicing) in Hong Kong provide one-stop audit services for small businesses. the audit fee for companies that do not start a business or with a little transaction, the fee as low as HK$3,000, and the audit fee for rental companies and small businesses are HK$6,000. (For details, please refer to the following fee schedule)
Our Hong Kong Certified Public Accountants teams also provide various assurance services for Government's subsidies scheme, technology voucher program (TVP), Enterprise support scheme (ESS), and various government-funded schemes, and we also accept the engagement in accordance with Hong Kong Standard on Related Services 4400, “Engagements to Perform Agreed-upon Procedures Regarding Financial Information” issued by the Hong Kong Institute of Certified Public Accountants (HKICPA), and we will indicate so in our report. (i.e., gross taking turnover report), for this kind of report the fee will start at HK$3,000.
We also provide accountancy and taxation services for SMEs. Our professional accountants provide bookkeeping services to assist you in preparing financial records such as profit and loss statements, balance sheets, trial balance sheets, and vouchers, using our popular accounting system to prepare the financial records in compliance with Hong Kong accounting standards and for statutory audit purposes. We also provide, tax planning consultation, company registration, and secretarial services, our teams of Certified Public Accountant sincere served in Hong Kong for 20 years, we provide one-stop tax reporting, provide SMEs tax solutions, our fees are transparent and reasonable.
Every limited company registered in Hong Kong must have its financial accounts audited by auditors registered under the Professional Accountants Ordinance (PAO) annually. There is no mandatory year-end date for Hong Kong companies, but 31 March and 31 December are the more common ones.
The responsibilities of auditor and director show after the pricing table.
Turnover between $11M to $20M
Bank statement between five to eight pages for each month
with a large size of transactions
For turnover exceed $20M
- 21M to 30M $25K-$28K/yr.
- 31M to 60M $31-38k/yr.
- 61M to 90M $42-50k/yr.
- 91M to 150M $55-60k/yr.
- 160M to 200M $65k/yr.
- 200M or above $70k/yr. up
of auditor and director
Responsibilities of auditor
We have a statutory responsibility to prepare a report to the members to state whether in our opinion the financial statements of the Company for the financial year are prepared, in all material respects, in accordance with the SME-FRS and whether they have been properly prepared in compliance with the CO. We shall also state our opinion in the auditor's report if we are of the opinion that:
a. adequate accounting records have not been kept by the Company; or
b. the financial statements are not in agreement with the accounting records in any material respect; and
We shall also state the fact in the auditor's report if we have failed to obtain all the information and explanations that, to the best of our knowledge and belief, are necessary and material for the purpose of the audit.
In addition, where the financial statements do not contain information relating to directors' remuneration or loans to officers under section 383(1) of the CO, the CO requires us to include in our report, as far as we are reasonably able to do so, a statement giving the particulars that are required to be, but have not been, contained in the (consolidated)* financial statements.
We have a professional responsibility to report if the financial statements do not comply in any material respect with SME-FRS, unless in our opinion the noncompliance is justified in the circumstances. In determining whether or not the departure is justified, we consider:
a. whether the departure is required in order for the financial statements to give a true and correct view; and
b. whether adequate disclosure has been made concerning the departure.
We are required to read the information in the directors' report for the financial year to identify and report inconsistencies with the financial statements. As required by the CO, if we are of the opinion that the information in the directors' report for a financial year is not consistent with the financial statements for the financial year, we shall state that opinion in our auditor's report; and we may bring that opinion to the members' attention at a general meeting. However, we are not required to audit or review the directors' report and accordingly we will not express an opinion or review conclusion or any assurance on it.
Responsibilities of director
Our audit will be conducted on the basis that you acknowledge and understand that you have responsibility:
a. To ensure that the company satisfies the relevant requirements under section 359 of the Companies Ordinance ("CO") such that the company is eligible to take advantage of the reporting exemption;
b. To prepare financial statements of the Company for the financial year in accordance with the Small and Medium-sized Entity Financial Reporting Standard (SME-FRS) and the CO;
c. To take all reasonable steps to ensure the Company keeps sufficient accounting records which show and explain the transactions of the Company, and disclose with reasonable accuracy, at any time, the financial position and financial performance of the Company;
d. To ensure that the financial statements comply with section 383 (Notes to Financial Statements to Contain Information on Directors' Emoluments etc) of the CO which must contain in the notes to the financial statements, the information prescribed by the Companies (Disclosure of Information about Benefits of Directors) Regulation (Cap. 622G);
e. For such internal control as you determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error;
f. To provide us with:
(i) Access to all information of which you are aware that is relevant to the preparation of the financial statements such as Company's accounting records and all other relevant records and documentation, including minutes of all management and shareholders' meetings and other matters;
(ii) Additional information that we may request from you for the purpose of the audit; and
(iii) Unrestricted access to persons related to the Company from whom we determine it necessary to obtain audit evidence;
g. To provide us with (i) any proposed written resolution and (ii) any other document relating to the resolution that is required to be sent to a member of the Company, or before the circulation of written resolution to a member of the Company; and
h. To notify us in respect of any passed written resolution within 15 days after resolution is passed.
You are also responsible for the preparation and approval of the directors' report in accordance with the CO.
Key changes under the Companies Ordinance (Cap. 622)
What are the general requirements for financial statements under the new CO?
The general requirements are –
What is “reporting exemption”?
“Reporting exemption” means the exemptions available to private or guarantee companies (other than certain companies specifically excluded) that are qualified to prepare simplified accounts and directors’ reports. The exemptions are in respect of specific requirements relating to the preparation of financial statements, directors’ and auditor’s reports and they include –
(sections 3(3A), 4(3), 8(3) and 10(7) of Companies (Directors’ Report) Regulation, Cap. 622D (“Cap. 622D”));
Source: Companies Registry www.cr.gov.hk