When you're facing a changing global economy, it's important to have someone next to you who will help navigate through the evolving accounting standards and changing regulatory environment. We can guide you through the uncertainties of change and risk.
The pressures and responsibilities of financial reporting and corporate governance for companies in Hong Kong has reached unprecedented levels with new standards becoming more complex. This includes the adoption of the new and revised HKFRSs and the introduction of SME for private enterprises which are intended to improve the transparency and of financial information for both shareholders and regulators. For companies in Hong Kong like you, new standards mean enhanced access to international capital, funding, and investment opportunities.
Why do we need audit?
The main purpose of audit is to express an opinion to a company's financial statements whether if they are fairly stated or not. An audit involves testing of financial transactions, evaluating internal accounting controls, and confirming account balances with third parties. Generally, we perform audits not just because they are required to be filed to the Inland Revenue Department together with the Tax Return for tax filing purpose, but statutory audit is indeed mandatory for all incorporated businesses under the provisions of Section 122 of the Hong Kong Companies Ordinance. Besides, audited financial statements are also required by third-party lenders while evaluating loan applications, shareholders of the company while making investment decisions, and/or bylaws of the company or organization.
How do our personalized services work for you?
In our opinion, an audit is not designed to catch all errors, irregularities, or fraud, but it may help deter fraud. At Amax & Co. our audit approach is therefore focus on the most significant areas of a company’s financial statements. This method not only strengthens our audits’ effectiveness but also allows us the opportunity to identify a company's weaknesses and construct management recommendations that can help to strengthen a company’s position within their industry.
We also believe that accurate and timely financial information is the cornerstone to any successful business. Our audit team will work well with you and your shareholders to maximize the value of your financial statement.
At Amax & Co. our personnel always participate in continuing professional education. This assures our staff are well equipped to handle the many ongoing changes to the financial reporting and auditing requirements.
What kind of audit services we can provide?
Ø Statutory audit for incorporated business
Ø Special purpose audit for incorporated and unincorporated business:
- Investigation of irregularities and misconduct
- Valuation of the business
- Merger & Acquisition or listing; or
- Assessment of management’s performance
Ø Audit for sole proprietor or partnership business:
- Such audit is normally conducted for certain professional/business such as solicitors’ firm, securities company and travel agency not simply because it will enhance the reliability of these companies’ financial statements, but it is required by the Regulatory Bodies and/or Laws of Hong Kong.
Ø Audit for Non-Profit making organization such as Government aided School, Religious and Charitable organization.
Ø Audit of financial statements for Owners' corporation of buildings
- Such audit is normally conducted for Owners' corporation of buildings Incorporated in Hong Kong and registered in the Land Registry under section 8 of the Building Management Ordinance.
Ø Internal Audit:
- Such audit is sometimes requried to improve the financial and operational performance of the company.
Ø Pre-listing Advice