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TCSP licence TC009022Limited companies need a yearly audit by a practising CPA, arranged by SetupHK.
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2014 years in business
TC009022 Trust or Company Service Provider licence
Yes. Companies must be audited yearly by a practising CPA, unless dormant under section 5.
Each financial year, a company must appoint an auditor to audit its accounts.
Companies Ordinance (Cap. 622), section 394
Only a practising CPA or CPA practice can act as a company's auditor.
Companies Ordinance (Cap. 622), section 393
A small private company may prepare simplified statements, but they must still be audited by a practising CPA.
Section 359; Companies Registry FAQ no. 9
A "small private company" meeting two of three tests in the table, with all members' written consent, may prepare simplified statements and a directors' report. Simplified reporting reduces disclosure, but the statements must still be audited.
WhatsApp usFrom accounts to audit report and tax filing, SetupHK follows up the whole process.
We write up and reconcile the books to the bank before the audit. Outstanding bookkeeping can be covered by our accounting service.
We prepare the profit and loss account and balance sheet for the auditor.
We pass the accounts to our partner CPA practice for audit.
Legal requirementIf the auditor needs more documents or explanations, we follow up.
We obtain the signed audit report for directors to review and sign.
We file the profits tax return with the audited statements.
Will SetupHK do the audit for me?Only a practising CPA can act as auditor, and must be independent. SetupHK prepares the accounts and statements, passes them to our partner CPA firm and follows up the whole process, so you need not find an auditor.
Priced on turnover, accounts and complexity: pick four items for your WhatsApp quote.
Higher turnover and more transactions widen the scope the auditor must check.
The auditor checks finished accounts and statements. If bookkeeping is not done, accounting comes first.
If books need doing first, we can quote with accounting services.See accounting services →
These affect the auditor's workload. Select all that apply.
Year-end date sets the audit and tax deadlines.
Pick a year-end date to see how far the 2025/26 tax return can be extended.
Audit between year-end and the tax deadline, as the return needs audited statements.
Organise accounts
Year-end; bookkeeping, reconciliation and financial statements
Audit by a practising CPA
After year-end; the auditor checks and raises queries.
Directors sign
Audit complete; auditor issues the audit report.
With audited statements
Before the deadline; Code N, D and M extensions are in the table below.
Every financial year
Every year, including a new company's first year.
Tax representatives apply in bulk for clients, in three groups by year-end date. The Inland Revenue Department has yet to announce 2026/27 arrangements; we will update once published.
Same steps for a new company's first audit and clients moving from another firm.
WhatsApp or call with your turnover, year-end date and accounts status. We will quote for your case.
Send accounts, bank statements, invoices, contracts, etc. Outstanding bookkeeping goes to our accounting team first.
Our partner CPA practice carries out the audit. We follow up any queries and provide extra documents.
Directors review and sign the audit report and financial statements, then we file them with the return to the IRD.
Timing depends on whether accounts are complete and how complex the business is. We explain this in the quote.
These are reviews left by clients on Google, published as written.
Many thanks to SetupHK, especially during this first year of running my business. Even today, whenever I contact the accounting staff, they are very professional, conscientious and attentive. Finding SetupHK was our good fortune.
YL LAW
Fast, efficient, trustworthy, careful and reliable!
Ginni Lun
Highly recommended, very efficient and well organised
Michael
Yes. The Companies Ordinance requires an auditor each financial year, and only a practising CPA can act. Audit is required regardless of size or profit; the only exception is a company declared dormant under section 5.
Must a Hong Kong company be audited?SetupHK quotes by turnover, whether accounts are done, business complexity and deadlines. There is no standard price list. WhatsApp us your company's situation for the services needed and a quotation.
Usually: full-year bank statements, sales and purchase invoices, receipts, contracts, fixed asset records, staff salary records, and last year's financial statements and audit report (if any). We list what your business needs before we start.
A "small private company" meeting two of three tests (revenue and total assets each up to HK$100 million; up to 100 employees) may prepare simplified statements and a directors' report with all members' written consent. Simplified reporting reduces disclosure; a practising CPA must still audit the statements.
Generally yes. Only a company that passes a special resolution under section 5 of the Companies Ordinance and is registered with the Companies Registry as dormant is exempt. Any accounting transaction ends dormant status.
The auditor must be independent and a practising CPA. SetupHK prepares the accounts and financial statements, passes them to our partner CPA practice and follows up throughout.
Accounting vs auditIt depends on whether accounts are complete, transaction volume and business complexity. The quote states the estimated time, arranged around the tax deadline.
Audit requirements, accounting vs audit, and what accounting services cover.
Tell us your turnover, year-end date and accounts status. SetupHK will arrange our partner CPA practice and quote for your situation.
