At MSA, we appreciate the importance of delivering assurance that empowers clients and their stakeholders to make decisions grounded in accurate and dependable information. Our audit and assurance professionals serve a broad base of industries in Hong Kong, helping them fulfill statutory obligations, perform internal audits, and go above standard requirements to strengthen organizational performance and support long-term development.
Our team is well-versed in Hong Kong’s statutory protocols, group reporting systems, group component audits, and worldwide reporting guidelines such as IFRS, IAS, and GAAP. We place great emphasis on adhering to local requirements while offering guidance relevant to a broader international framework.
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Our Assurance Services
In collaboration with our licensed MS Advisory audit partner, we assist foreign-funded businesses across Hong Kong (and occasionally in other regions) through these key assurance offerings:
Support with year-end statutory audits in Hong Kong
Guidance on the annual Profits Tax filing
Preparation and filing of the annual return
Internal audit, compliance assessments, and due diligence – see our Review & Due Diligence Services for further details
International Audit
With extensive experience working alongside multinational clients and leveraging our global affiliations, we are uniquely positioned to meet audit demands for operations in both Hong Kong and foreign jurisdictions.
By partnering with a qualified local CPA firm, alongside our team of certified accountants and tax consultants, we can convert Hong Kong-based audit findings to align with group audit needs, participate in group component audits, and perform internal reviews following international compliance principles.
Statutory Audit in Hong Kong
All foreign-controlled enterprises in Hong Kong must complete an annual audit carried out by a certified Hong Kong CPA firm. The primary goal is to confirm that the financial statements accurately portray the enterprise’s financial health, operational outcomes, and cash flows, in alignment with Hong Kong Financial Reporting Standards (HKFRS) or other recognized frameworks.
Many Hong Kong companies select December 31 or March 31 as their fiscal year-end, prompting the statutory audit to commence early in the subsequent year. This audit must be finished in time to satisfy all mandatory filing deadlines.
By collaborating with licensed CPA partners, we ensure punctual completion of each annual audit in line with Hong Kong rules and regulations. Our team provides comprehensive support to foreign-owned businesses, clarifying every stage of the audit process, and assists in adapting final audit results to fulfill broader group reporting obligations.
Corporate Credit Report
Though not strictly required in all cases, some entities or third parties in Hong Kong may request formal verification or additional financial data. As a comprehensive service provider, MS Advisory can secure any necessary reports or certifications so that organizations remain consistent with both local and global best practices.
Corporate Credit Report
Though not strictly required in all cases, some entities or third parties in Hong Kong may request formal verification or additional financial data. As a comprehensive service provider, MS Advisory can secure any necessary reports or certifications so that organizations remain consistent with both local and global best practices.
Annual Profits Tax Filing in Hong Kong
In Hong Kong, Profits Tax is generally reported once per year following a chosen fiscal period. Variances between global accounting methods and local tax regulations can lead to differences in calculated taxable profits versus those recorded in financial statements. Therefore, companies must file Profits Tax Returns reconciling declared results and taxable income, settling any outstanding tax or requesting tax refunds if warranted.
We support clients in navigating this process, clarifying the impact of local tax rules versus established accounting principles, and handling all computations and filings related to the annual Profits Tax declaration.
Annual Return in Hong Kong
Under local regulations, businesses in Hong Kong must submit an Annual Return to the Companies Registry, which documents the company’s up-to-date particulars, including directorships and share structure. This filing typically occurs within 42 days following the anniversary of incorporation (or another timeframe based on entity type). We relieve clients of administrative strain by managing all aspects of the annual return preparation and ensuring timely submission to the relevant authorities.
Engage MSA for a Full Hong Kong Assurance Service
Companies expanding into or investing in Hong Kong need to ensure that their Hong Kong operations satisfy all the standard market and compliance requirements. Get in touch with MSA Hong Kong’s assurance services to find out how we can help.
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