Professional bookkeeping service may enable a company to ensure compliance with accounting standards. In addition, such service may help to improve business management and decisions making.
According to Section 51C of the Inland Revenue Ordinance (IRO), every person carrying out a business in Hong Kong shall keep sufficient records of its income and expenditures for a period of 7 years after the completion of the transactions to enable the assessable profits of such business to be readily ascertained.
Every Hong Kong Limited Company is also required to conduct annual statutory audit by an independent auditor under the Hong Kong Companies Ordinance (Section 122) regardless of whether the company has conducted its business activities within our outside Hong Kong, unless the company concerned had officially applied as a dormant company.
The audited accounts must be presented to the members of the company at an annual general meeting and submit together with the company’s Profit Tax Return within a certain time frame.
Kernel will be able to assist our clients for accounting and audit arrangement with independent auditor who has been qualified under the Professional Accountant Ordinance and holds a Practicing Certificate issued by the Hong Kong Institute of Certified Public Accountants (HKICPA) to perform the service.