Audit and Assurance

Annual Audit

The directors are responsible for preparing the financial statements in each financial year to comply with sections 380 and 383 (section 379(1) except dormant company. The financial statements must be audited by certified public accountants (Practising) in Hong Kong. All records must be retained for seven years from the transaction date.

A Company can apply one of the 3 reporting standards issued by the Hong Kong Institute of Certified Public Accountants (HKICPA) namely Hong Kong Financial Reporting Standard (HKFRS), HKFRS for Private Entities (HKFRS for PE) and The Small and Medium-sized Entity and Financial Reporting Standard (HK SME-FRS).