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Does the newly established company in Hong Kong need to check the cash at the end of the period?

Released Date: Aug 24,2022 Article Source: HUANZE

New companies in Hong Kong may not know that at the end of the period if there is cash to be counted,Why do you need an inventory?

inNewly established company in Hong KongThe enterprise may not know, at the end of the period if there is cash is to be counted,Why do you need an inventory?

Because auditors cannot confirm the real value of cash without taking inventory, they will have reservations about the cash, so inNewly established company in Hong KongEnterprises must pay attention to, if there is a certain amount of cash at the end of the period, inform the auditor early, the auditor should reasonably arrange the time of inventory.

Recently, our company has an old customer. At the beginning of every year, he will communicate with us and make an appointment to take cash inventory in his company to confirm his actual value. Therefore, it is very simple to set up a Hong Kong company, but when it comes to auditing, we still need to find professional companies to carry out services. Otherwise, if we accidentally step on the thunder point, it is likely to bring tax risks to the company, increase the tax cost of the enterprise, and run counter to our intention to set up a Hong Kong company.

Does the newly established company in Hong Kong need to check the cash at the end of the period?

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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