Not long ago, fears are already lifted as being the Office has been used as being a governmental Instrument to “handle” departments that have not been “cooperative” to the government. Controversies happen to be drawn in the direction of how the accounts of your Radio Tv Hong Kong are actually audited.

Merely examining the precision of enter info utilized by the auditor's specialist, without the need of evaluating if the details was related, comprehensive and exact

For accounting responsibility, you have to Stick to the Hong Kong accounting standards to offer a “legitimate and honest” look at within your company’s financial condition.

Inserting inappropriate reliance on the results of other audit methods and lowering the extent of checks of particulars

Failure To guage administration's judgement about the entity's ongoing financial covenants compliance Even with breach indicators through the forecast time period

PKF Hong Kong is usually a member firm of PKF World wide, the community of member firms of PKF Worldwide, Every of and that is a independent and unbiased legal entity and does not acknowledge any responsibility to the steps or inactions of any personal member or correspondent firm (s ).

Renewing the BRC includes spending a government price and getting an current version on the certification annually.

In April 2023, the Audit Commission reported that there was a "[n]eed to phase up efforts in examining library elements for safeguarding nationwide safety and talking comply with-up actions.

All companies legally operating in Hong Kong are required to file Annual Return (kind NAR1) (obtain sort) While using the Companies Registry. In easy terms, This can be an annual notification on the point out with regard to the changes that have occurred inside your company throughout the yr. 

Insufficient knowledge of customer's small business, resulting in results in audit threat assessment and also the inappropriate style of audit methods

Due to complexity of the standards, some companies locate it challenging to stay compliant and preserve very good financial standing. A lot of them concur that employing an accounting firm is a solution to help keep the business running effortlessly and legally.

As internal auditors, we really try to balance human reference to the strength of harnessing details.”

You have only to pay one particular monthly service price for access to the accounting knowledge of a complete team, reducing concerns about selecting charges and staff turnover, so you can save time and sources to take a position in other parts of your company.

Founded possibility evaluation system, policies and treatments based upon the HKICPA Quality Management Manual with only constrained modifications; did not appropriately detect all the standard view publisher site risks particular to their firms or have been unable to clarify why specific excellent dangers ended up relevant to them And the way their procedures and procedures could deal with All those risks