AUDIT SERVICE
Preparing and maintaining accounts are mandatory. Every year, company must audit their accounts by Certified Public Accountants (CPA) in Hong Kong and file the audited accounts together with tax return to the Inland Revenue Department (IRD). An independent CPA should be hired, which should separate from the CPA/Accountant who is hired for book-keeping, in order to ensure the audit report is an independent and professional report.
Financial auditing include a review of the company’s financial accounting processes and measure how well the company is recording and reporting its financial information based on Financial Reporting Standards set by IRD.
Auditing including the following procedures:
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Assess the size of the audit
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Identify potential mistakes
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Build an audit strategy
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Give advance notice
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Verify that outgoing checks were properly signed, accounted for and posted to the correct accounts.
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Ensure that deposits were properly posted.
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Review all financial statements
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Ensure compliance with all IRD requirements
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Complete the financial review worksheet
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Determine the audit opinion
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Submit the signed document
Dealing with auditors can be a pain because it does require tedious work on the part of those being audited. Prism’s accounting team will arrange a professional CPA firm to conduct audit for your company. We will reply all questions which are raised by the auditor and provide the supporting documents to auditor. We manage the time and schedule to ensure the audited financial report will be delivered before the tax deadline.