Global CPA understands that under the new company law in Hong Kong, all Hong Kong companies are required to prepare a financial statement annually. This is in line with the statutory requirement under the Companies Ordinance.
The preparation of annual financial statements is the responsibility of the company's director(s). The financial statements must be audited and presented at the annual general shareholder meeting, which must be held within nine months from the end of the accounting period covered by the audited accounts.
Failure to comply with this requirement is a serious offense, and the director(s) may be liable to a fine of HK$ 300,000 and imprisonment for up to 12 months. It is, therefore, important for companies to ensure that they are compliant with the legal requirements.
In addition to preparing annual financial statements, private companies that have a business in Hong Kong must also file an annual profits tax return with the Inland Revenue Department. An audited financial statement is also required to be filed with the profits tax return.
Global CPA has extensive experience in providing financial statement preparation and audit services to Hong Kong companies. Our team of qualified and experienced accountants can help ensure that your company's financial statements are prepared in compliance with the statutory requirements and are presented accurately and efficiently.
We understand that compliance with Hong Kong's financial reporting requirements can be complex and time-consuming. Therefore, we provide comprehensive and cost-effective services to help companies meet their obligations, while allowing them to focus on their core business activities.
By engaging Global CPA's financial statement preparation and audit services, companies can benefit from our professional expertise and knowledge in financial reporting standards and regulations. We also use the latest accounting technology to streamline the financial reporting process, saving companies time and money.
At Global CPA, we pride ourselves on delivering high-quality and personalized services to our clients. Our team of professionals is dedicated to helping clients achieve their financial goals and objectives while ensuring compliance with local regulations.
In summary, annual financial statement preparation and audit are essential requirements for all Hong Kong companies. Global CPA can help ensure that your company's financial statements are prepared accurately and efficiently, while ensuring compliance with the statutory requirements. Contact us today to learn more about our financial statement preparation and audit services.
