The smart Trick of hong kong standard of auditing That Nobody is Discussing

The smart Trick of hong kong standard of auditing That Nobody is Discussing

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5. Tax Appeals: In case of disagreement with the assessment, taxpayers can item to your IRD in a specified period of time. Applicable documentation and grounds for your charm should really guidance the complaint.

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Not sufficiently documenting the willpower of KAMs, such as the rationale for issues demanding substantial auditor focus and which of Those people issues are of most importance in the audit and so are KAMs

Failure to identify or check JE with fraudulent qualities, for example unauthorized or abnormal transactions or abnormal account mixtures Failure To guage the appropriateness of applying a monetary threshold to choose JE

Companies will have to put together financial statements in accordance with HKFRS and file them Using the Companies Registry. The financial statements should really supply a true and reasonable see of your company's financial placement, overall performance, and dollars flows.

Our Homepage gives info on our get the job done, like our vision, mission and values, the purpose in the Director of Audit, our organisation, regularity audit and price for funds audit, as well as latest developments throughout the Commission. It also delivers the full Reports in the Director of Audit as well as their summaries.

Deloitte’s accounting services are primarily designed for large companies with sophisticated financial needs and major financial methods. Subsequently, their services may very well be a lot more appropriate for consumers with bigger budgets and much more complicated accounting requirements.

Failure to critically take into account what situations or problems could Forged major doubt over the entity's means to continue being a going issue and procure sufficient correct audit evidence

Companies must prepare the many financial paperwork for audit no less than a couple of months prior to the deadline of your PTR filing—preferably early June for companies that has a financial yr-conclusion of December 31 and early September for companies whose financial yr-finish is March 31. 

You will have heard about financial auditing, Are you aware the difference between IS auditing and financial auditing? You are going to discover more about IS auditing through the dialogue between Prof.

In addition to the audits related to filing the PTR, Hong Kong calls for companies to go through annually statutory audits and appoint a Qualified auditor every year. 

Planning in the Financial Statement management reports with the help of the accountant with accounting working experience.

An auditor has to be appointed for each financial 12 months (Hong Kong’s financial 12 months runs from April 1 to March 31). The company administrators can appoint the main auditor Anytime prior to the annual common meeting (AGM) of their to start with directory financial calendar year.

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