Statutory Audit

Statutory Audit is a kind of compulsory auditing required by law, for example, the auditing conducted by the Chinese Certified Public Accountants for the foreign investment enterprises or listed companies every year. Also, in accordance with Hong Kong “Companies Ordinance”, the limited company registered in Hong Kong shall appoint Certified Public Accountants to conduct auditing every year. The auditor shall conduct auditing on the profit and loss statement, balance sheet, and relevant receipts according to the auditing standards. They shall also comment on whether the accounting system formulated by the enterprise complies with the GAAP and its effectiveness in the actual application process.

Guided by the principle of independence, the audit team of Conpak provides annual auditor’s reports that meet the auditing standards for the enterprise, and provides audit opinions on the authenticity and equity of financial statements and accounting records, as well as the consistency of accounting process. We can provide management proposal in which to list out the existing critical problems, with improvement plan, references and suggestions, if required.

Information Needed for Auditing

• Audit the annual financial statements (including the income statement, balance sheet and cash flow statement)
• The accounting record in the fiscal year (including bank statements, contracts, expense invoices and receipts, etc.)
• The list of affiliated company and affiliated persons
• Other relevant information

Process of Auditing

• Draft the auditing plans to ensure the auditing targets
• Understand and comment on the internal controlling system of enterprise
• Gather and record or copy relevant information
• Compliance testing and comment on the result
• Substantive control and comment on the result
• Draft auditing report and forward to the company being audited

Should you have any enquires about Statutory Audit, please complete the form below and we will reply to you soon.