Accounting Firm in Hong Kong: Accounting, Audit & Tax

Proper books of account are a statutory obligation with a seven-year retention period, and the audited financial statements that follow support the profits tax return. In practice the companies that find the year painless are the ones closing monthly rather than reconstructing twelve months in the fourth quarter.

Our accounting engagement covers transaction processing, bank and control account reconciliations, payable and receivable ledgers, fixed asset and inventory schedules, monthly management accounts, and HKFRS statutory financial statements prepared for signature.

We prepare the audit file, act as the auditor's point of contact and clear queries so that sign-off does not push the tax deadline. Confirmations (bank, legal and intercompany) are requested at the start of fieldwork rather than the end.

The tax computation adjusts accounting profit for non-deductible items and depreciation allowances, and supports any offshore claim with contemporaneous evidence. We file the profits tax return within the block extension for your year end and handle Inland Revenue Department correspondence.

Statutory accounts satisfy the regulator; they rarely answer the questions a board asks. Our monthly pack pairs the trial balance with the numbers behind the decisions: gross margin by revenue line, cash runway, debtor ageing and collection days, committed spend, and variance against budget with a short written commentary.

The reporting calendar is agreed at the start of the engagement: bank and control accounts reconciled by an agreed working day, draft pack for review, then the final pack. Cloud access means directors and investors can look at the underlying transactions rather than taking a summary on trust.

Profits tax returns are issued in bulk in April and the filing date depends on your accounting year end and block-extension eligibility. The usual timetable is mid-August for D code, mid-November for M code and early May for N code. For 2025/26 paper returns, D code was extended to 31 August 2026 and M code to 30 November 2026. Eligible M-code loss cases may receive a further extension. We confirm the applicable year’s deadline rather than treating these dates as permanent.

Working back from that date is what keeps the year calm: books closed monthly, the audit file ready before fieldwork, audit sign-off with time to spare, then the computation and return. Provisional profits tax is payable in two instalments, and where profits have fallen materially we file a holdover application within the statutory window rather than paying cash you do not owe.