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Get through your audit
Audit in Hong Kong
You will learn when you need an audit, who can do it, and what happens if you skip it.
- 9 courses
- 50 lessons
- Each lesson about a minute
Course 1
Do you need an audit
6 lessons · 8 min
- 1Does every Hong Kong company need an audit every year?
- 2Is there an audit exemption for small companies in Hong Kong?
- 3Does a Hong Kong company with no business or no revenue still need an audit?
- 4Does a newly incorporated Hong Kong company need an audit in its first year?
- 5Does a loss-making Hong Kong company need an audit, and does going concern matter?
- 6My Hong Kong company claims its profits are offshore. Do I still need an audit?
Course 2
Use the small company shortcut
4 lessons · 4 min
Course 3
Skip the audit when dormant
5 lessons · 7 min
- 1What is the dormant company audit exemption in Hong Kong?
- 2How do I make a Hong Kong company dormant? (Steps under s.5)
- 3What ends a Hong Kong company's dormant status, and what are the risks?
- 4Does a dormant Hong Kong company still have to file a profits tax return?
- 5Should I make my company dormant or deregister it (NDR1)?
Course 4
Choose your auditor
6 lessons · 6 min
- 1Who is allowed to audit a Hong Kong company?
- 2What is the difference between AFRC and HKICPA for auditors?
- 3How do I check that my auditor is properly registered in Hong Kong?
- 4Can an overseas auditor audit my Hong Kong company?
- 5Who is disqualified from being the auditor of my company?
- 6Can the same firm do my bookkeeping, tax and the audit?
Course 5
Appoint or change your auditor
5 lessons · 5 min
Course 6
Get ready for the auditor
6 lessons · 7 min
- 1Must directors give the auditor information, and what if they refuse?
- 2What does a statutory audit involve, step by step?
- 3How long does an audit take in Hong Kong?
- 4What documents will the auditor ask my Hong Kong company for?
- 5How much does a Hong Kong company audit cost, and what affects the fee?
- 6What is the difference between an audit, a review and a compilation?
Course 7
See what the auditor checks
7 lessons · 7 min
- 1What are audit confirmations, and why does the auditor write to my bank?
- 2Will the auditor attend our stock count and check our fixed assets?
- 3How does an audit treat director loans and related-party transactions?
- 4Will an audit check payroll and MPF contributions?
- 5Does the audit cover the Significant Controllers Register?
- 6Why does my auditor ask for ID and source-of-funds information?
- 7Do I need consolidated accounts for my Hong Kong holding company?
Course 8
Sign off the results
6 lessons · 6 min
- 1What is the management representation letter, and must I sign it?
- 2What are audit adjustments, and why would the auditor change my accounts?
- 3What are the types of audit opinion in Hong Kong and what do they mean?
- 4How does a qualified audit report affect bank loans and IRD?
- 5What is going concern in an audit and what happens if there is doubt?
- 6What are the directors' responsibilities for the accounts, and the auditor's?
Course 9
Meet your audit deadlines
5 lessons · 7 min
- 1Do I have to submit audited accounts with my profits tax return (BIR51)?
- 2Hong Kong profits tax return deadline 2025/26 and block extension
- 3What is the deadline for completing audited accounts and sending them to members?
- 4What happens if my Hong Kong company does not get audited?
- 5What does IRD do if I do not file the return or audited accounts?
