Please note that our company is specialised in the creation and follow-up of companies (Company Secretary mandate). Our specialisation has made our reputation and our professionalism for more than 20 years. The accounting of our clients is therefore not done by our services but by a partner.
What is Accounting?
Accounting is the keeping of financial accounts for businesses. This involves recognizing all of the company’s financial transactions over a period of one year (usually from January 1 to December 31 of each year) as well as measuring its assets and liabilities over the same period.
What documents are submitted following the completion of the Accounting?
You are given:
- Profit & Loss /or Income Statement
- Balance Sheet
- Cash Flow Statement
All the accounting elements transmitted (in digital or paper format).
Is it compulsory?
Yes, it is mandatory. The company director is held responsible for this.
Who does it?
The accounting is done by an accountant applying the IFRS accounting standard. We provide accounting services through a firm outside of our company. The coordination in French between the accountant and your company is done by us free of charge.
What is the cost?
The cost is min. USD 123 per month. Our customers receive a 32% discount, which is min. USD 84 per month.
We take care of providing the accountant with all the required documents and answering all his questions. Coordination in French with the accountant is offered to our clients.
Annual Audit of Accounts
Please note that our company is specialised in the creation and follow-up of companies (Company Secretary mandate). Our specialisation has made our reputation and our professionalism for more than 20 years. The auditing of our clients’ accounts is therefore not carried out by our services but by a partner.
What is Auditing?
This is an audit of the company’s accounting reports as required by the Hong Kong Authorities. The purpose of the audit is to give an opinion on the reports prepared by the company and to validate that these reports are free from any errors.
Which documents are submitted following the Auditing?
You are given an audit report signed by the auditor.
Is it compulsory?
Yes, it is mandatory. The company director is held responsible for this.
Who does it?
The audit is carried out by a person independent of the accountant. It is therefore carried out by an auditor outside our company. The coordination in French between the auditor, the accountant and your company is done by us free of charge.
What is the cost?
The cost depends on the complexity of the accounting and the total volume of paperwork, but costs typically start from 1,000 USD per year. The auditor always sends a quote before starting their work.
Audit of Your Company in Hong Kong
Accounting and auditing are two essential and compulsory points in Hong Kong. If you create your company in Hong-Kong with the aim of tax optimisation, auditing and accounting are two ways of guaranteeing to the competent authorities that you respect the rules, your project thus gains in durability and transparency. The audit of your company can be assured by an external auditor that we will advise you, this contractual audit will see all its terms defined in advance in the estimate provided by the auditor.
Who Audits Your Company?
Our long presence in Hong Kong has given Merritt a strong network of partners. We can confidently recommend to you an auditing and reporting service provider. This external and independent auditor will help you to certify your accounts without any hassles or surprises. The audit process may have variable costs depending on the configuration of the company and the activity. You are free to choose your own auditor, or we can arrange one for you. In either case, the auditor should provide a quote defining the terms of service in advance.
Contact us to know more and analyze your business set up process in more detail.