Acc. & Arrange of Auditing
|Section 51C of the Inland Revenue Ordinance requires|
|every person carrying on a trade, profession or business in Hong Kong to keep sufficient records in the English or Chinese language of his income and expenditure to enable the assessable profits to be readily ascertained.|
|Such records shall be retained for a period of not less than 7 years.|
|Failure to comply with the requirements of the Ordinance without reasonable excuse may be liable to a maximum fine of $100,000.|
|The records prescribed in the Ordinance include books of accounts recording receipts and payments, vouchers, bank statements, invoices, receipts; records of the assets and liabilities; statements of trading stock, etc.|
|ARRANGEMENT OF AUDITING SERVICE|
Auditing services including statutory audit and non-statutory audit.
According to Hong Kong Company Ordinance Sec. 122, the annual financial statements of Hong Kong limited company should be audited by Hong Kong Certified Public Accountants (Practising), for the purpose of presenting for shareholders’ review in annual general meeting. Apart from that, Hong Kong Inland Revenue Department also requires the Hong Kong limited company to submit the profits tax return with the audited financial statements for the purpose of tax assessment.