Are there any fake accounting firm in Hong Kong? Of course there are. According to informal statistics, there may be more fake accounting firm than real ones in Hong Kong.
How to identify a real accounting firm? There are two ways,
First, a real accounting firm has Certified Practicing Accountant. There are many fake accountants on the market, named their company as "...accounting firms", "...accounting service companies" or "....tax reporting companies" and so on. Please note that if there is no Certified Practicing Accountant in charge. It is not a real accounting firm. The general public will be mislead if they don't understand the differences.
Another more direct way to distinguish a fake accounting firm is to see if the charges are unreasonably cheap. For example, if the charges are only two or three thousand dollars, then general public needs to be cautions.
The price of a real accounting firm will cost more, their cost reflect on their knowledge, training and experience. Since they have to undergo strict training and practice to obtain the qualification of an accountants, but the quality of their service is guaranteed.
As for the fake accounting firm, there are no requirements, anyone can do it. There is no supervision, and no guarantee of service quality provided, that's why the fees can be extremely low.
When filing tax returns, of course, you must rely on an Certified Practicing Accountant, who truly serving the best interest of the company. In recent complaints from the tax bureau, it can be seen that the tax bureau has become more strict enforcing the Tax law in Hong Kong, and there is a chance to go to jail for incorrectly filing tax returns.
Our company, Edward So, is a Certified Public Accountants. If you have any questions or inquiries about accounting, auditing, taxation, please feel free to contact us.
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