C o n t a c t

Audit & Assurance

A professional and reliable audit is not only an important part of fulfilling a company’s statutory obligations, but can also provide management and shareholders with greater clarity over the company’s financial position and performance.

WST CPA & CO. provides professional audit and assurance services to businesses and organisations across different industries and of varying sizes. Beyond reviewing financial information and accounting records, our audit approach also considers relevant operational and financial reporting risks identified during the audit process, helping clients enhance financial transparency and strengthen their financial management.

Preparation of Financial Statements for Each Financial Year

Under Section 379 of the Hong Kong Companies Ordinance (Cap. 622), company directors are required to prepare financial statements for each financial year in accordance with the applicable requirements.

WST CPA & CO. assists businesses with their annual audit requirements by reviewing financial statements, accounting records and relevant supporting information and providing independent and professional audit services.

Our work goes beyond reviewing financial figures. During the audit process, we also consider matters that may be relevant to the company’s financial reporting and operations.

Appointment of an Auditor

Under Section 394 of the Hong Kong Companies Ordinance (Cap. 622), a company is required to appoint an auditor in accordance with the statutory requirements.

During the audit, the professional team at WST CPA & CO. performs audit procedures on the company’s financial statements and relevant accounting records in accordance with applicable auditing standards. We also consider the accounting policies, systems and financial reporting practices adopted by the company as part of the audit process.

Upon completion of the required audit procedures, we issue an audit report in accordance with applicable professional and statutory requirements.

Audit & Tax Filing

The Hong Kong Inland Revenue Department (IRD) issues tax returns to taxpayers, which are required to be completed and submitted within the prescribed timeframe.

For Hong Kong limited companies, audited financial statements are also important documents for profits tax filing and related tax compliance matters. Businesses should therefore maintain proper accounting records and arrange for their annual accounts and audit work in a timely manner, rather than waiting until a Profits Tax Return is received before preparing their annual accounts.

WST CPA & CO. can coordinate the audit process with your accounting and tax arrangements, helping your business complete its annual audit and related financial reporting requirements more efficiently.

Uses of an Audit Report

Depending on the circumstances, a professionally prepared audit report may be required or useful for:

  • Tax Filing — Supporting profits tax filing and related tax compliance matters
  • Bank Financing & Loans — Providing financial information to banks and financial institutions
  • Government Funding & Subsidy Applications — Meeting audit or financial reporting requirements under various government funding programmes
  • Protection of Shareholders’ Interests — Enhancing financial transparency and providing shareholders with greater visibility into the company’s financial position
  • Business Management & Decision-Making — Helping management identify financial reporting and internal management matters that may require attention

Audit Services by WST CPA & CO.

We provide a range of audit services tailored to the requirements of different businesses and organisations, including:

  • Statutory Annual Audits
  • Special Purpose Audits
  • Government Funding Programme Audits
  • School Audits

At WST CPA & CO., our focus goes beyond completing the audit process. Through professional, independent and rigorous audit services, we aim to help our clients better understand their financial position and address their relevant compliance requirements.

Free Professional Consultation

If you would like to understand your company’s audit requirements, the documents required for an audit, or our service fees, please contact the professional team at WST CPA & CO.

We will be pleased to understand your requirements and provide a free initial consultation together with an audit solution tailored to your business.