Hong Kong Statutory Audit Services

Yes. All active companies incorporated under the Companies Ordinance must undergo an annual statutory audit. Only companies that have passed a special resolution and formally declared their dormant status with the Companies Registry are exempt.

Statutory audits must be performed exclusively by an independent, external Certified Public Accountant (CPA) holding a valid practicing certificate from the Accounting and Financial Reporting Council (AFRC).

Present at the AGM within 9 months of the year-end (6 months for public companies) and submit to the IRD with the Profits Tax Return.

Yes. Private companies that satisfy at least two of the three statutory size criteria (annual revenue ≤ HKD 100 million, total assets ≤ HKD 100 million, and employees ≤ 100) can opt for the simplified Small and Medium-Sized Entity Financial Reporting Standard (SME-FRS).