Professional audit services
By law all limited companies registered in Hong Kong are required to undertake an annual audit by a certified public accountant. The Inland Revenue Department in Hong Kong also requires companies must include an auditor’s report, produced by a certified public accountant(CPA) when tax returns are filed.
MarbleConsultants provide the expertise for clients to comply with all Hong Kong’s legislative audit requirements. Our independent audit service identifies possible compliance issues and provides advice on responding to Inland Revenue Department queries.
Our services
MarbleConsultants provide professional audit services. Our accounting staff bring years of audit experience and broad knowledge of industry characteristics, structure and operations to provide you with effective solutions. We help organizations identify potential risks and difficulties and give guidance to directors on how to fulfill their responsibilities and comply with all relevant legislation.
We produce true and fair financial statements and complete the following duties:
- Statutory audit in accordance with Hong Kong law, auditing standards and financial statement arrangements
- Arrange company special audits as required, provide corporate profit tax returns and filing other Inland Revenue Department returns
- Develop internal audit controls ensuring that operations and monitoring improve company efficiency
- Train internal audit staff
- Organize year-end inventory and monitoring for audit purposes
- Provide professional financial management tools to organize general ledger and other accounting systems
Why choose MarbleConsultants?
MarbleConsultants have expert knowledge and experience in their dedicated audit team. We work with clients to fully understand their particular requirements and create a bespoke audit service. Our fees are determined by the amount of audit work required to meet Hong Kong legislative requirements. Our company fees are not structured around the scale of clients’ company profits. In general fees increase with the complexity of documents and processes that clients require.
Please contact us to arrange an appointment to discuss your audit requirements.
Frequently asked questions
Q: What are the penalties for failing to pay tax on time?
A: Under the Inland Revenue Ordinance, Section 71 (1), in accordance with the provisions of the Inland Revenue Ordinance to levy taxes tax should be paid on or before the specified date in the notice. If this is not done it is deemed that there has been a delay in tax payment.
If taxpayers have not met the date specified for the first provisional payment the second tax installment is considered due immediately. If the notice of assessment is not paid within the specified time the Inland Revenue Department may take immediate action to recover the tax in full. The Commissioner of Inland Revenue, under the Inland Revenue Ordinance (Chapter 112) Section XII allows the department to take immediate legal action to recover the outstanding taxes. This includes a 5% surcharge levied to third parties issued a notice of tax recovery and legal actions.