Audit Service for SMEs
Why do Hong Kong limited companies need audit?
From a legal perspective: According to Chapter 622 of the Companies Ordinance, Hong Kong limited companies are required to engage a practicing accountant to conduct an annual audit and submit the audited report, signed by the practicing accountant, to the Hong Kong Inland Revenue Department.
From a company's operational perspective: The purpose of audit and accounting is to assess the reliability of a company's financial condition, financial records, and financial-related information, culminating in the issuance of an audit report. The audit report serves not only for tax computation by the Inland Revenue Department but also as a validation of the legitimacy of the company's commercial activities.
City AI Accounting has a team of experienced accountants,
who can provide you with professional auditing service.
The work of audit is the process of systematically reviewing, evaluating and reconciling a company’s financial records and financial-related information. The purpose is to assess the reliability of a company’s financial position, financial records and financial related information, and to issue an audit report. The audit report is used by the Inland Revenue Department for tax calculation purposes and also provides evidence of the legitimacy of the company’s business activities.