International Finance Center with Simple Tax System
Hong Kong Accounting Services | Auditing Services Hong Kong
Hong Kong Accounting & Auditing service fees
From
US$ 370
- Coordination and advice for setting up bespoke accounting systems
- Bookkeeping and annual accounts preparation
- Periodic management accounts and reports
- Budget and cash flow preparation and forecasts
- Consolidated accounts for businesses in Hong Kong
Hong Kong Accounting Services and Auditing Services
When conducting business and dealing with numerous transactions, clients need clarity in their financial affairs. To ensure compliance with Hong Kong statutory requirements Multistream International is able to act as third party services provider or an internal financial administrator, controller or accountant in full co-operation with clients’ headquartered financial staff and third parties as needed.
Taking care of a company’s financial related tasks by experienced professionals, our services include:
- Coordination and advice for setting up bespoke accounting systems
- Bookkeeping and annual accounts preparation
- Consolidated accounts for businesses in Hong Kong or across multiple jurisdictions
- Periodic management accounts and reports
- Budget and cash flow preparation and forecasts
- Compliance with Hong Kong Inland Revenue Department (IRD), Securities and Futures Commission (SFC) reporting requirements if any
Process
Accounting process
How to apply Singapore Merchant Account
Transactions
Transactions include the sale or return of a product, the purchase of supplies for business activities, or any other financial activity that involves the exchange of the company’s assets, the establishment or paying-off of a debt, or the deposit from, or paying out of money to, the company’s owners.
Journal entries
The transaction is listed in the appropriate journal, maintaining the journal’s chronological order of transactions.
Posting
The transactions are posted to the account that it impacts, and are part of the general ledger, where you can find a summary of all the business’s accounts.
Trial balance
Calculate a trial balance at the end of the accounting period (quarter or year, depending on the business’s practices).
Worksheet and adjusting journal entries
Corrections or adjustments are tracked on a worksheet for the depreciation of assets and to adjust for one-time payments.
Post any corrections needed to the affected accounts once the trial balance shows the accounts will be balanced once the adjustments needed are made to the accounts.
Financial statements
Prepare the balance sheet and income statement using the corrected account balances.
Closing the books
Closing the books
Auditing process
How to apply Singapore Merchant Account
Planning
Initial planning activities include formal acceptance of the client, verifying compliance with independence requirements and performing other procedures to determine the nature, timing, and extent of procedures to be performed in order to conduct the audit in an effective manner.
Risk assessment
Use their knowledge of the business, the industry and the environment in which the company operates to identify and assess the risks that could lead to a material misstatement in the financial statements.
Audit strategy and plan
Auditors develop an overall audit strategy and a detailed audit plan to address the risks of material misstatement in the financial statements. The audit strategy and plan is continually reassessed throughout the audit and adjusted to respond to new information obtained about the business and its environment.
Gathering evidence
Apply professional scepticism and judgment when gathering and evaluating evidence through a combination of testing the company’s internal controls, tracing the amounts and disclosures included in the financial statements to the company’s supporting books and records, and obtaining external third-party documentation.
Finalisation
Finally, the auditors exercise professional judgment and form their overall conclusion, based on the tests they have carried out, the evidence they have obtained and the other work they have done. This conclusion forms the basis of the audit opinion.
Fee
Accounting fee
The Accounting fee is calculated based on the number of transactions and we assure to have the lowest fee compared to other companies in the market.
| Amount(Transactions) | Fee |
|---|---|
| Below 30 | US$ 370 |
| 30 to 59 | US$ 420 |
| 60 to 99 | US$ 480 |
| 100 to 119 | US$ 510 |
| 120 to 199 | US$ 630 |
| 200 to 249 | US$ 830 |
| 250 to 349 | US$ 1,120 |
| 350 to 449 | US$ 1,510 |
| 450 and Above | To be confirmed |
Auditing fee
Auditing fee is calculated based on the revenue of your Hong Kong company in a reporting period
| Turnover (Million HKD) | US$ Estimated Equivalent (*) | Fee |
|---|---|---|
| Below 0.5 M | Below 64,500 | US$ 939 |
| 0.5 M to 0.74 M | 64,500 to 95,999 | US$ 1,070 |
| 0.75 M to 0.99 M | 96,000 to 127,999 | US$ 1,280 |
| 1 M to 1.49 M | 128,000 to 191,999 | US$ 1,650 |
| 1.5 M to 1.99 M | 192,000 to 255,999 | US$ 1,810 |
| 2 M to 2.99 M | 256,000 to 383,999 | US$ 2,050 |
| 3 M to 3.99 M | 384,000 to 511,999 | US$ 2,420 |
| 4 M to 4.99 M | 512,000 to 640,999 | US$ 3,450 |
