Audit Services in Hong Kong
We provide statutory audit solutions for limited companies in Hong Kong. Trust Osome to take care of your entire company audit process and ensure your company meets accounting standards and compliance in line with government regulations.
How it works
Get an instant quote from us
Speak to our experts and provide basic documents for getting a quote based on your company's yearly revenue.
Submit documents
After confirming the audit engagement, we will collect your documents via the Osome platform to initiate the audit process.
Audit process starts!
We will process your company audit within the required timescales.
We take care of the reporting
Our auditor will prepare the audit reports, obtain your company director's signature and arrange tax reporting for you.
Audit and Tax Filing Requirements in Hong Kong
What is a financial audit and how does it work?
Every limited company in Hong Kong has to go through the annual audit process. Your financial statements have to be audited by an external, independent, registered Certified Public Accountant (Practising). This expert would express an opinion on whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework.
What are the audit requirements for small businesses or SMEs in Hong Kong?
Here’s a list of documents you will need to provide for an audit:
- Income statement
- Statement of financial position
- Trial balance
- General ledger
- Bank statements
- Sales, purchase and expenditure invoices
- Agreements or contracts
- Corporate documents
What steps should I take to complete the audit for my company?
The audit reports have to be filed together with your Profits Tax Return (PTR) to the Inland Revenue Department (IRD). Typically, the government sends you the first PTR 18 months after your incorporation. That’s when you need to respond with the company's audit report, tax computation and PTR.
You can and should start preparing it earlier, though. Make sure you have chosen a reliable accounting audit agency to deliver the job.
It is required by the Hong Kong law that the auditor is an external and independent body, who is a Certified Public Accountant (Practising).
Make sure you check that the cost of the financial audit covers everything you need, and there won’t be any additional charges you haven’t discussed.
Hassle-free Audit Services
We handle all of the admin and paperwork, answer your queries quickly, and provide advice at every stage. Our audit services come at a flat fee, so no need to worry about any extra charges out of the blue.
Audit Pricing
Our audit pricing is generally based on your company’s yearly revenue. Pricing may vary depending on factors such as the business industry, primary activities or special requirements. To ensure you get a more accurate quotation tailored to your company, speak to our experts.
What’s your average annual revenue?
Get a quote for your audit
You are required to provide these documents for an audit quotation:
- Trial balance
- Income statement
- Statement of financial position
- General ledger
- Prior year audit report, if any
- Corporate secretary document
- TC006825
- Certified Public Accountants
- Chartered Secretaries
- Association of Chartered Certified Accountants
Profits Tax Return
Deadlines in Hong Kong
Based on your company's year-end date, take note of the deadline that your company needs to submit your audit documents. Speak to our experts and get advice on when and how you need to start the audit process.
| Company year-end date | Standard deadline for submitting audit documents to the government (IRD) | Extended due date |
|---|---|---|
| April 1 - November 30 (N code) | May 2 in the next year | No extension |
| December 1 - 31 (D code) | August 15 in the next year | No extension |
| January 1 - March 31 (M code) | November 15 in the same year | January 31 in the next year for companies which suffered statutory loss (application must be lodged on or before October 31) |
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FAQ
What is a financial audit?
A financial audit is conducted by an auditor to provide an opinion on whether financial statements (the information is verified to the extent of reasonable assurance granted) are stated in accordance with Accounting Standards. The auditor gathers evidence to determine whether the statements contain material errors or other misstatements.
Is an audit mandatory in Hong Kong?
Yes, all limited companies formed in Hong Kong, including those operating overseas, need to go through the annual process to audit their company accounts. This is a legal requirement for all limited companies in Hong Kong (according to Hong Kong Company Ordinance and Inland Revenue Ordinance), so it's mandatory to file a Statutory Audit in accordance with the Hong Kong Financial Reporting Standards.
What does a statutory audit involve?
The management reports and accounting records would be audited by an independent CPA (Practising) supported by sufficient audit evidence for the CPA to give an audit opinion whether financial statements (the information is verified to the extent of reasonable assurance granted) are stated in accordance with Accounting Standard and free from material misstatement.
What steps are involved when completing a financial audit for my Hong Kong company?
The auditor would start the audit by understanding the business of the company. Follow by collecting the documents as audit evidence such as invoices, goods delivery and receipt notes, sales and purchases contracts, purchase orders, sales orders, rental agreements, bank-in slips, bank statements, bank loan agreements, financial breakdowns to support the figures disclose in the financial statements. In addition, audit confirmation would be performed with a bank, account receivable and payables to verify year-end balances. Of course, some other auditing testing and audit procedures would be performed as well. Enquiries would be made to the management during the audit. The auditor would give an audit opinion in the audit report whether financial statements are fairly stated in accordance with Accounting Standards, and whether the statements contain material errors or other misstatements.
After completing the audit, an auditor would prepare an audit report with tax computation and complete profits tax return for company directors’ review and confirmation. The company directors will then sign the audit report. This, along with your PTR, is sent to the government – Hong Kong Inland Revenue Department (IRD) to keep on record.
Who are the auditors?
An auditor is an independent Certified Public Accountant (Practising) registered in HKICPA, who is qualified to provide the audit services for companies in Hong Kong. An audit report would be prepared by the auditor and audit opinion would be given there based on their findings after completing the audit.
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