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Do Hong Kong companies need relevant documents to support the audit?

Released Date: Jan 19,2023 Article Source: HUANZE

Hong Kong company audit will encounter a variety of problems, for different problems also need to do different analysis.

Hong Kong corporate auditWill encounter a variety of problems, for different problems also need to do different analysis.

For example, inHong Kong corporate auditIn the process, there was a company in Hong Kong that did the financing sale and leaseback business in one year, which was receivedUSD1000Ten thousand dollars. The finance lease agreement has also been offered by the company, which looks like a finance sale and leaseback business.

But we are reviewing itHong Kong corporate auditDuring the information process, it was found that the fixed assets of the finance lease could not be proved to be the assets of the Hong Kong company, that is, there was no purchase agreement and no property right certificate. Therefore, the final audit results determined that the trade could not be a financing sale and leaseback business. If we book as a financed sale and leaseback business, as our clients say, there is likely to be a significant tax risk.

So inHong Kong corporate auditWhen, the company's business must have relevant data to support, so as to reasonably explain the company's business, in order to avoid their own risks.

Do Hong Kong companies need relevant documents to support the audit?

CycloseThe company is committed to providing domestic and foreign customers with corporate audit, tax declaration, registration, annual inspection, tax planning and other services in Hong Kong, Singapore, Dubai and other regions. Efficient, rigorous, intimate service has been favored by many private enterprises, listed companies and large state-owned enterprises.

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