Hong Kong Audit Services: Statutory, Accurate, and Delivered on Time
Statutory audit and financial statement services for Hong Kong private limited companies, foreign-owned subsidiaries, and multi-jurisdictional groups.Â
HKFRS-compliant. IRD and Companies Registry ready.Â
Statutory Audit in Hong Kong What Every Company Director Must Know
Every private company incorporated in Hong Kong under the Companies Ordinance (Cap. 622) is required by law to have its financial statements audited annually by a Certified Public Accountant (CPA) holding a practising certificate issued by the Hong Kong Institute of CPAs (HKICPA).Â
This applies regardless of company size, revenue level, or whether the company traded during the year. A dormant company, a newly incorporated entity, a holding company with a single intercompany loan — all require a statutory audit.Â
The audited financial statements must be presented to shareholders, filed with the Companies Registry as part of the annual return process, and submitted to the Inland Revenue Department (IRD) as part of the Profits Tax return. Three separate obligations, three separate deadlines — all flowing from one set of properly prepared, audited accounts.Â
For foreign-owned subsidiaries and groups with Hong Kong entities, the audit also serves a critical function at the group level: providing a reliable, independently verified set of accounts that can be consolidated into onshore group reporting without adjustment or challenge.Â
Our Comprehensive Services Include
The Legal Obligation Under the Companies Ordinance (Cap. 622)
all Hong Kong incorporated companies — with the exception of companies that have been granted a dormant company exemption under Section 447 — must appoint an auditor and have their annual financial statements audited. The auditor must be a practising CPA registered with HKICPA.
Financial Reporting Standard
HKFRS Financial statements must be prepared in accordance with Hong Kong Financial Reporting Standards (HKFRS), which are substantially converged with IFRS. Smaller entities may apply the HKFRS for Private Entities, which is based on IFRS for SMEs. The applicable standard is determined by the company's size and public interest status.
Annual General Meeting & Shareholder Approval
Audited financial statements must be presented to shareholders at the Annual General Meeting (AGM). Private companies may dispense with holding a physical AGM by passing a written resolution. The financial statements must be approved and signed by a director before the auditor issues their report.
Companies Registry Filing
Hong Kong companies must file an annual return with the Companies Registry. For private companies, this must be filed within 42 days of the anniversary of incorporation. While full financial statements are not publicly filed (unlike in the UK), the annual return confirms key company information and must be accompanied by the required fee.
Inland Revenue Department
Profits Tax Return The IRD issues Profits Tax Returns annually, typically on 1 April. Companies must submit their return — accompanied by audited financial statements and a tax computation — within the prescribed deadline. Extensions are available through the Block Extension Scheme for tax representative firms. Failure to file results in estimated assessments and potential penalties.
Dormant Companies
A company may apply for dormant status under the Companies Ordinance if it has had no significant accounting transactions during the financial year. Dormant companies are exempt from the audit requirement for the period of dormancy but must still file an annual return with the Companies Registry and notify the IRD.
Our Hong Kong Audit & Reporting Services
Statutory Audit
We coordinate the full statutory audit process for Hong Kong private limited companies — from preparing audit-ready financial statements through to issuance of the auditor's report by our HKICPA-affiliated audit partners. The result is a signed set of audited accounts ready for AGM, IRD submission, and Companies Registry purposes.
HKFRS Financial Statement Preparation
We prepare annual financial statements in full compliance with HKFRS or HKFRS for Private Entities — including the statement of financial position, profit or loss, changes in equity, cash flow statement, and all required notes. Statements are prepared to audit-ready standard before handoff to auditors, minimising audit queries and turnaround time.
Profits Tax Computation & IRD Filing
We prepare the tax computation accompanying the Profits Tax return and coordinate submission to the IRD within the applicable deadline — including via the Block Extension Scheme where applicable. We ensure alignment between the tax and statutory positions, avoiding discrepancies that attract IRD attention.
Group Consolidation Support
For Hong Kong holding companies or subsidiaries forming part of a wider group, we prepare the financial information and consolidation schedules needed to feed into UAE, UK, Singapore, or other onshore group accounts — on a timeline that supports the group reporting calendar.
Audit Readiness Review
For companies whose accounts have historically been poorly maintained or where prior year audits were delayed, we conduct an audit readiness review — reconciling records, identifying gaps, and preparing a clean set of accounts before the auditor engages. This significantly reduces audit time and cost.
Intercompany & Related Party Documentation
Hong Kong auditors pay close attention to intercompany transactions, director loans, and related party balances. We prepare the supporting documentation — loan agreements, transfer pricing summaries, related party disclosures — that auditors require and that IRD may request.
Dormant Company Maintenance
For dormant Hong Kong entities, we manage the annual return filing with the Companies Registry, maintain the statutory books, and ensure the company remains in good standing — ready to be reactivated when needed.
Why Companies Choose Helvetios for Hong Kong Audit Services
Hong Kong’s mandatory audit requirement catches many foreign business owners and group finance teams off guard.Â
A company incorporated in Hong Kong “just for holding purposes” or “not really trading yet” still needs a statutory audit.Â
And because every company needs one, the quality and efficiency of the process depends entirely on who manages it.Â
Helvetios manages the process so it doesn’t become a bottleneck.Â
We prepare accounts to audit-ready standard before auditors are engaged.
The single biggest cause of audit delays and cost overruns is financial statements that aren't ready when auditors arrive. We prepare your accounts fully before handoff — reconciled, documented, and formatted to HKFRS — so the audit proceeds smoothly and on schedule.
We work with HKICPA-registered audit partners.
Hong Kong's statutory audit must be signed by a practising CPA registered with HKICPA. We work with established, reputable audit partners in Hong Kong and manage the entire process on your behalf — you don't need to source, brief, or chase an auditor yourself.
We understand Hong Kong in the context of a wider group.
Most of our Hong Kong clients have entities in the UAE, UK, Singapore, or offshore jurisdictions as well. We prepare Hong Kong accounts with the group structure in mind — consistent with intercompany positions, aligned to the group calendar, and ready for consolidation without rework.
IRD compliance is built in, not bolted on.
We prepare the Profits Tax computation alongside the financial statements — not as a separate afterthought. The result is full alignment between the statutory and tax positions, reducing the risk of IRD queries and ensuring on-time filing.
One relationship, all jurisdictions.
For clients maintaining entities across Hong Kong, UAE, UK, Singapore, and offshore — Helvetios is a single point of contact. No coordination between separate firms in each market. No version mismatches. No gaps.
Helvetios manages the entire process, from financial statement preparation through to confirmed IRD filing, so your Hong Kong entity stays compliant without consuming your time.Â
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How We Manage Your Hong Kong Audit
We’ve designed our process to be as straightforward as possible —Â
so you can focus on running your business while we handle the complexity.Â
Step 1: Free Scoping Call
We assess your company's structure, financial year-end, trading status, and any prior audit history. We confirm the applicable HKFRS standard, identify IRD filing deadlines, and provide a fixed-fee quote for the full scope.Â
Step 2: Document Request
We send a structured document checklist — typically including trial balance, bank statements, fixed asset schedules, intercompany loan documentation, and director information. For holding companies with limited activity, this is a brief process.Â
Step 3: Preparation & XBRL Tagging
We prepare your HKFRS-compliant financial statements, Profits Tax computation, and all audit supporting schedules. You receive a draft for director review alongside a plain-English summary of key figures and any items requiring attention.
Step 4: Directors' Review & Sign-Off
We hand off the complete audit pack to our HKICPA audit partners and manage the process through to issuance of the signed auditor's report. We handle all auditor queries directly — your team is not pulled into the back-and-forth.
Step 5: AGM & Filing
We prepare AGM documentation, coordinate shareholder approval, submit the Profits Tax return to the IRD, and ensure the annual return with the Companies Registry is filed within the 42-day window. You receive confirmation of all filings and a complete archive.
Step 6: Ongoing Compliance Monitoring
We note your next financial year-end, IRD filing window, and Companies Registry anniversary date — and reach out proactively when preparation needs to begin for the following year.
Ready-made companies available
Fast-track your business journey with a ready-made company.
Hong Kong Audit: Frequently Asked Questions
Yes. Unlike the UK, Singapore, and many other jurisdictions, Hong Kong has no audit exemption for small or dormant private companies. Every active Hong Kong private limited company must have its annual financial statements audited by a practising CPA registered with HKICPA.Â
The IRD issues Profits Tax returns on 1 April each year. The standard filing deadline is one month from the date of issue. However, companies represented by a tax representative firm can benefit from the Block Extension Scheme, which extends deadlines significantly — often to November or the following April depending on the company's financial year-end.
Only a Certified Public Accountant holding a valid practising certificate issued by HKICPA can sign a statutory audit report for a Hong Kong company. Helvetios works with HKICPA-registered audit partners to fulfil this requirement.Â
Most Hong Kong private companies prepare financial statements under HKFRS for Private Entities, which is based on IFRS for SMEs. Larger or more complex entities may apply full HKFRS, which is substantially identical to IFRS. We determine the appropriate standard based on your company's size and circumstances.Â
If the company has not been formally granted dormant status under the Companies Ordinance, it still requires a statutory audit. We can assess whether your company qualifies for dormant status and, if appropriate, assist with the application — which would remove the audit requirement going forward.Â
Yes — this is one of the most common scenarios we handle. We prepare the Hong Kong subsidiary's financial statements on a timeline that aligns with the group reporting calendar, coordinate the audit, and prepare consolidation schedules for the parent company's use.Â
For a well-prepared set of accounts, the audit typically takes 4–6 weeks from handoff to the auditors. The total process from initial document collection to signed auditor's report is usually 8–12 weeks. We build timelines that ensure all statutory deadlines are met comfortably.Â
