鍾錦光會計師事務所
K K CHUNG & CO.
Certified Public Accountants

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Audit

   Why do you need an Audit?

   What types of Audit do you need?

  Why is a Certified Public Accountant necessary?


Why do you need an Audit?

  • Performing independent audits on accounts of companies incorporated under the Companies Ordinance as required by law.

  • Recommending improvements that could be made in the procedures for controlling or safeguarding a company's resources.

  • Assisting entrepreneurs to achieve their corporate growth strategies by carrying out operational audits.

  • Increasing the credibility of a company's accounts in that interested third parties will be reassured by the knowledge that the accounts have been audited.

  • Enhancing the confidence of shareholders in the management of a company since its accounts have been reviewed by a Certified Public Accountant.

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What types of Audit do you need?

The types of audit services which a Certified Public Accountant can make available to clients are as follows: -

  • Audits of annual accounts of companies in compliance with the Companies Ordinance.  The audited accounts have to be approved by shareholders at the Annual General Meeting.  A copy is also required to be submitted to the Inland Revenue Department for tax reporting purposes.  Banks frequently require a copy for credit evaluations.

  • Audits of accounts of companies under other legislation such as banks, insurance and securities companies.

  • Investigations into irregularities and making recommendations to clients.

  • Special reports for specific purposes, e.g. valuation of companies and operational assessments.

  • Special audits for acquisitions, mergers and stock exchange listings.

  • Special audits for litigation cases.

  • Audits of annual accounts of organizations such as trade unions, owners' associations and some unincorporated bodies to increase credibility and to maintain accountability.

  • Advice to clients on a full range of accounting and auditing matters.

  • Advice to company directors on their statutory obligations and responsibilities.

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Why is a Certified Public Accountant necessary?

In Hong Kong, by law, the accounts of a limited company must be audited by a Certified Public Accountant (CPA).  In contrast to unqualified and self-proclaimed accountants, we are Certified Public Accountants, who are professionally qualified and duly recognized by law.

Our work follows the accounting and auditing standards as promulgated by the Hong Kong Society of Accountants (HKSA), the only statutory body in Hong Kong governing all Certified Public Accountants practicing in Hong Kong.  We are also bound by the ethical standards laid down by HKSA, which emphasize an auditor's independence and his duty to keep client information strictly confidential.

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Room 308, Honwell Commercial Centre, 119 Connaught Road Central, Hong Kong
Tel: 2815 1555    Fax: 2815 1383    E-mail: kkchungcpa@kkchung.com