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What should a Hong Kong company do when audited?

Released Date: Jun 30,2022 Article Source: HUANZE

Many people in the mainland do international trade, and most of them will set up companies in Hong Kong, and Hong Kong companies need to be audited every year. However, in addition to the letter of confirmation, there are other procedures in auditing. In particular, some trading companies will have inventory on the closing day, which needs to be paid attention to when doing the audit of Hong Kong companies.

Many people in the mainland do international trade, and most of them will set up companies in Hong Kong, and Hong Kong companies need to be audited every year. But auditing requires other procedures besides confirmation, especially for some trading companies that have inventory on closing dayBe doingHong Kong corporate auditYou need to pay attention to it.

First of all, if the Hong Kong company has a local warehouse in Hong Kong and has inventory on the closing date, it is better to make an appointment with the auditor at the beginning of the year for on-site inventory supervision, so that the inventory will not be corrected after the inventory is takenHong Kong corporate auditThe report's opinion had an adverse effect.

Secondly, the Hong Kong company has warehouses in other regions and has inventory on the closing date, so it needs to distinguish the situation. If the Hong Kong auditor has audit cooperation units in the local area, the relevant audit firm can be entrusted to supervise the order.

Finally, if the Hong Kong company has an inventory on the closing date and the inventory is stored in a third-party warehouse (such as Cainiao Logistics warehouse, Jingdong Logistics warehouse, etc.), in this case, the customer can communicate with the company in charge of the warehouse and ask the company in charge of the warehouse to accept the letter of confirmation from the auditor in Hong Kong, which can also proceed smoothlyHong Kong corporate audit.

What should a Hong Kong company do when audited?

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