audit commission hong kong - An Overview
audit commission hong kong - An Overview
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The time period "Hong Kong standards on excellent management, auditing, assurance and associated services" contains:
Bestar can provide complete guidance to corporations in Assembly their obligations beneath the Companies Ordinance.
Audit Report: A mandatory audit with the financial statements is necessary. This audit involves analyzing financial paperwork and manufacturing an audit report, which must be attached towards the annual financial statements and submitted on the Hong Kong Tax Office along with the PTR.
two. The following step is screening, which consists of getting and analyzing audit proof to guidance the financial statements. This features tests the company’s internal controls and verifying the precision and completeness with the financial information and facts.
Companies will have to put together financial statements in accordance with HKFRS and file them Using the Companies Registry. The financial statements should really offer a accurate and good look at of the company's financial place, overall performance, and hard cash flows.
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Companies really should get ready all the financial paperwork for audit no less than a few months before the deadline in the PTR submitting—if possible early June for companies which has a financial calendar year-stop of December 31 and early September for companies whose financial 12 months-conclusion is March 31.
In accordance with the Companies Ordinance (Cap. 622), it is actually obligatory for all companies running in Hong Kong to get a corporate secretary. It is the company secretary who delivers the company by using a registered Business office for any period of one 12 months (until finally another renewal).
Moral principles underpin the get the job done from the commission, in addition to a high standard of workmanship, factors out Lam. ‘We copyright independence and professionalism, and give auditing services of good quality to The federal government and the general public sector,’ he says.
As one of many prime accounting firms, the cost for selecting PwC will not be affordable, specifically for modest companies with a good price range
The present BRC need to be prominently exhibited with the small business or department locale. It ought to be available for official inspection upon request. In the event the BRC is issued as an electronic document, a printed copy must be displayed in a visible area.
The HKICPA sets standards for auditing and accounting and ensures that its users adhere to those standards. The audit system usually includes preparing, screening, analyzing internal controls, examining success, and reporting. It consists of these ways: