Tam Cheung Lai Sheung & Co.
Certified Public Accountants (Practising)
Tam Cheung Lai Sheung & Co Certified Public Account (Practising) was founded in Hong Kong in 1998.
With the most reasonble prices, we strive to provide our clients with comprehensive one-stop services which include:
1. Auditing services;
2. Taxation services;
3. Bookkeeping services;
4. Registration of a Hong Kong limited company;
5. Corporate secretary.
1. Auditing services
Auditing services includes statutory audit and non-statutory audit.
A) Statutory Auditing
According to Hong Kong Companies Ordinance Sec. 122, the annual financial statements of a limited company in Hong Kong must be audited by a Hong Kong Certified Public Accountant (Practising) before being presented for shareholders’ review in the annual general meeting. The Hong Kong Inland Revenue Department also requires the company to submit its profits tax return with the audited financial statements for the purpose of tax assessment.
Statutory Auditing is conducted in accordance with the Hong Kong Standards on Auditing issued by the Hong Kong Institute of Certified Public Accountants and the Companies Ordinances. During the audit, we strive to understand our client's industry, business operation, management structure and risks management, in order to discover the potential management and operational threats and provide professional solutions.
We express professional opinion regarding the trueness and fairness of the financial statements in our auditor's report, and to make recommendations as to how financial performance and competitive power can be improved and enhanced. We also focus on the fiduciary duties held by the company directors, as set out by relevant statutory requirements.
B) Non-Statutory Auditing (Special Auditing)
Apart from performing statutory auditing, we also provide special auditing services relating to:
2. Taxation services
Taxation is an important issue for both the individual and corporations. Improper tax management will cause significant loss of time and money.
We assist our clients to minimize their tax obligations legally. Through careful tax planning and a focus on our clients' specific needs and their unique circumstances, we periodically review our strategies to ensure that they enjoy optimal tax benefits.
As your Tax Representative, our services include:
3. Bookkeeping services
Section 51C of the Inland Revenue Ordinance requires every person carrying on a trade, profession or business in Hong Kong to keep sufficient records in the English or Chinese language of his income and expenditure to enable the assessable profits to be readily ascertained. Such records shall be retained for a period of not less than 7 years. Failure to comply with the requirements of the Ordinance without reasonable excuse may be liable to a maximum fine of $100,000. The records prescribed in the Ordinance include books of accounts recording receipts and payments, vouchers, bank statements, invoices, receipts, records of the assets and liabilities, statements of trading stock, etc.
A) Bookkeeping Services
We provide assistance for our clients to establish appropriate accounting software and the subsequent improvements and upgrades for the recording of transactions and the preparation of financial statements on a timely basis.
4. Registration of a Hong Kong limited company
Most enterprises in Hong Kong operate as limited companies and this is in view of the various advantages such as tax benefits and relief, greater flexibility and the limitation of shareholders' risk.
The Structure of Hong Kong Limited Company
5. Corporate secretary
Every enterprise incorporated in Hong Kong with limited liability is required to appoint directors and a company secretary in accordance with the Companies Ordinance (Chapter 32, Law of Hong Kong) in order to fulfill the statutory requirement and maintain the operations of the enterprise.
The post of company secretary is required by statute. His/Her duties include reporting to the Companies Registry about any change of the company's structure and key personnel. He/She is also responsible for preparing board minutes, arranging for annual meeting and providing professional advices in respect of the Companies Ordinances.
We provide company secretarial services relating to: