Auditing is the process of determining whether the recorded informaiton properly reflects the economic transactions occurred during the bookkeeping procedures.
Companies which are incorporated under companies ordinance of Hong Kong are required to have an annual financial statement audit as well as statutory audits.
It is essential that an audit is carried out on the reports that they comply with companies ordinance requirements. It may be one of the monitoring mechanism and the safeguard for the interest parties parties such as shareholders and creditors.
Other assurance services such as review of interim financial reports and information system review.