The accounting services provided by accounting firms help companies calculate, supervise their cash flow and related accounting information, visualize financial accounting reports, and allow corporate decision makers to have a more comprehensive understanding of the financial status. Companies will continue to optimize and plan future financial strategies and improve risk management to ensure fruitful operations. Moreover, through the help of professional practicing accountants in “bookkeeping, settlement and reporting”, as well as providing relevant analysis and suggestions, it can greatly improve the profitability and management ability of the company. At the same time, accounting services represented by a HK CPA firm save costs and ensure compliance with accounting standards.

Regardless of whether you have filed a tax return or not, as long as you have a company, the IRD will collect taxes from your company. If the company fails to file tax returns after repeated reminders from the IRD, the IRD will conduct an estimated tax assessment based on the nature of the company's business. There was a customer who only needed to pay a few thousand HKD in taxes, but because he forgot to file a tax return, it was estimated that he would have to pay nearly one million HKD in taxes after the tax assessment. It is also worth mentioning that if it is found that the tax assessment result on the tax return is wrong, such as the calculation method is wrong, the taxpayer can object to the tax assessment. Taxpayers are required to submit a notice of objection and the reasons for objection to the IRD within 1 month of the date of issue of the notice of assessment.

Many people confuse accounting with auditing/auditing. In fact, the nature of the work of the two is not the same, and it can be said that they are completely different professions. Generally, the accounting department in a company is mostly employee or a third-party accounting company, responsible for preparing financial documents, monitoring the bookkeeping of the company's daily operations, and even preparing the company's accounting and tax returns. Auditors are mostly third-party professionals, both auditing and accounting. After collecting evidence, they are responsible for fairly auditing and analyzing the accuracy of company accounts and taxation, and try to explain or question some figures in the form of reports. Where the expression is not clear, or to ensure that the information in the audit report is true and fair. Usually the frequency of audit work is once a quarter or once a year. Therefore, accounting and auditing complement each other. Accountants handle daily financial bookkeeping so auditors can work smoother.

According to the Hong Kong Companies Ordinance, every company established or registered in Hong Kong must provide an address in Hong Kong as the company’s registered address.

Besides, the company’s registered address must be the actual address in Hong Kong, and the PO Box address cannot be used as the company’s registered address, and it is also acceptable to register the residential address as the company’s address.

However, it should be reminded that many people use their home address as their company’s registered address, which may cause privacy issues because others can access relevant information through online searches.