The latest from China & Hong Kong

Every Hong Kong company faces the same annual reckoning: financial statements prepared, audit completed, tax return filed. The obligation is fixed. What is not fixed is how much it costs you, in money and in stress. Directors who ignore their books until year-end discover the true price of that neglect all at once, in a single painful lump sum. Those who maintain their accounts across the year pay less, sleep better, and never get caught out. Why the lump sum hurts so much Wh

If you are a director of a Hong Kong company, the law holds you personally responsible for its financial statements. Not your accountant, not your auditor, not the person who keeps the books. You. This is one of the most misunderstood points in Hong Kong company law, and misunderstanding it is exactly how directors end up exposed. Where the responsibility comes from The Companies Ordinance places the duty to prepare annual financial statements squarely on the directors. Under

In Hong Kong, preparing annual financial statements is not a matter of good practice or investor preference. It is a legal duty written into the Companies Ordinance, and it falls on the company’s directors personally. Many founders treat the accounts as something the auditor produces once a year. The law sees it differently: the accounts are your responsibility, and the auditor merely reports on them. The legal basis: section 379 Under section 379 of the Companies Ordinance (

A Hong Kong company is easy to keep in good standing and surprisingly easy to let slip. The obligations are not onerous, but they are non-negotiable, and they run on a calendar that does not wait for you. Good housekeeping means staying ahead of that calendar rather than reacting to it. Here is what your company needs to keep in order, and how to make it routine. The statutory records you must maintain Every Hong Kong company is required to keep certain records current and av

Hong Kong is widely recognised as one of Asia’s leading international financial centres. A key pillar supporting its position is a transparent, internationally aligned financial reporting framework. For companies operating in or expanding into Hong Kong, understanding local accounting standards is fundamental to maintaining compliance, investor confidence, and effective corporate governance. This article provides a structured overview of Hong Kong accounting standards, their

For companies operating in Hong Kong, staying compliant with legal, tax, and corporate governance obligations is not only a regulatory...

Hong Kong continues to be one of Asia’s most dynamic and attractive markets for international business. With its pro-business...

Hong Kong remains a key player in the global economy, consistently ranked as one of the most competitive and open financial hubs....

In Hong Kong’s fast-paced business world, effective financial management is crucial for success, not just an administrative duty....

In Hong Kong’s vibrant business scene, success for Small and Medium-sized Enterprises (SMEs) hinges on one crucial factor: maintaining...

Effective financial management is crucial for the success of any small business or startup, especially in Hong Kong's dynamic market. Properly managing your finances prepares you to handle the ups and downs of entrepreneurship, and cloud accounting software can play a pivotal role. One of the best solutions available today is Xero. What is Xero Accounting Software? Xero is a cloud-based accounting software designed specifically for small businesses. Launched in 2006, Xero pro

In Hong Kong’s dynamic business world, excellent financial management is not just an administrative task; it’s crucial for success....

In Hong Kong’s dynamic business landscape, accurate financial record-keeping is essential for the success of Small and Medium-sized...

Hong Kong, as one of China's Special Administrative Regions (SARs), possesses the autonomy to establish its accounting standards...

Multinational corporations operating in China often share information with their subsidiaries or headquarters outside the country....

The Company Law in China, which rules over all registered companies including foreign invested enterprises (FIEs), mandates a two-tier...

Hong Kong is one of the world’s top financial centers with a large capital markets industry. It is also known as the top destination for...

Listed companies reward their shareholders by paying out a portion of their profits. Though cash dividends are the most common form of...

Foreign companies doing business in China are most likely familiar with the term fapiao, which refers to the Chinese invoice system. This...