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Management generally prepares accounts for proper understanding of enterprise's operations. The financial statements also act as an indicator of commercial decision for management by financially comprehension. Companies incorporated in Hong Kong with limited liability, as stipulated by Companies Ordinances (Chapter 32, Law of Hong Kong), should appoint an external auditors to perform statutory audit. The report is required to be presented to shareholders for approval in Annual General Meeting (AGM). Besides, Inland Revenue Department (IRD) also request the submission of audited financial statements with profits tax return for the assessment purpose. |
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Statutory
Audit
