According to the provisions of the Companies Ordinance and Inland Revenue Ordinance of the Hong Kong Companies Registry, limited liability companies need to be audited every year. According to Section 122 of the Companies Ordinance, the annual financial statements of all limited liability companies registered in Hong Kong are required to be inspected and audited by certified public accountants.

Limited companies in Hong Kong will receive a profits tax return form issued by the Inland Revenue Department every year, and must submit an audit report and tax return form reviewed by a Hong Kong certified public accountant to the Hong Kong Inland Revenue Department within the deadline. Generally, a company will receive its first profits tax return 18 months after its establishment and needs to submit the form within 3 months. If there is a profit, the tax bureau will issue a notice to pay profits tax. If a company fills in incorrect information on the tax form, omits to report certain items, or submits the tax return late, it may violate tax regulations. The company concerned may be prosecuted and fined by the tax bureau.