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FAQ > Accounting and Auditing > P01

Q: Why is accounting work required? View : 146
A:

Accounting work is required for several major reasons:

• required by Inland Revenue Department (“IRD”);
• required by management;
• required by fund provider, such as shareholder and banker.

Only the requirement from IRD is mandatory. Hong Kong incorporated companies are required to file tax return annually. Therefore, many SMEs prefer to having formal accounting work.

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