Accounting & Taxation
In accordance with section 405 of the Hong Kong Companies Ordinance, audited annual financial statements must be presented in the annual general meeting. Audited financial statements can also be provided for granting loans and other assurance services, etc.
Wingate CPA & Co. provides audited financial statements which comply with Hong Kong regulation by our professional accountants. Moreover, Wingate custom made reports can fulfill any other specific arrangement required such as grant loans for clients to uphold every shareholder’s right.
Detail of services:
- Statutory audit of limited companies
- Special purpose financial audits (Fund raising, loan-specific)
- Non-financial assurance services (Ballot assurance)
Documents to be provided for quotation:
- Management accounts with schedules (If no account has been opened, please refer to our Accounting Services)
Frequently asked questions:
- What types of supporting documents do I have to provide for audit purposes?
- Supporting documents listed below are generally required.
- Bank statements, bank books and cheque book stubs
- Sales contracts & invoices
- Purchase contracts & invoices
- Petty cash vouchers
- Fixed assets register (If applicable)
- Closing stock list (If applicable)
- Tenancy agreements (If applicable)
- Bank facility letters (If applicable)
- Loan agreements (If applicable)
- Filed employer’s return [Form IR56A and IR 56B] (If applicable)
- Tax assessments (If applicable)
- Is a sole proprietorship required to have accounts audited?
- No, sole proprietorship is not governed under the Hong Kong Companies Ordinance. However, the Inland Revenue Department will request certified accounts if gross income exceeds HK$2,000,000. Professional accounting service may be considered in this case.
- How to determine my financial year end date?
- In accordance with section 370 of the Hong Kong Companies Ordinance, directors may specify any date within 18 months after incorporation. Normally, companies in Hong Kong choose 31 December or 31 March.
- Should my corporation still have an annual audit even if it has a net loss?
- Having a net profit is not a condition specified in section 405 of the Hong Kong Companies Ordinance. Therefore, corporations with a net loss still need to have their accounts audited.