What is the difference between an accountant and a CPA in Hong Kong?

Anyone can call themselves an accountant or bookkeeper. A certified public accountant is a member of the Hong Kong Institute of Certified Public Accountants, and a CPA (practising) holds a practising certificate issued by the Accounting and Financial Reporting Council. Only a CPA (practising), a CPA firm or a corporate practice registered with the AFRC may sign a statutory audit report under the Companies Ordinance.

How do I check a CPA firm is registered?

Use the AFRC's public registers: 'Find a CPA (Practising)' for individuals and 'Find a CPA firm or corporate practice' for firms, on afrc.org.hk. The record shows the firm name, registration number and status. A firm not on the register cannot legally audit your company.

How much does an accountant cost in Hong Kong?

Published 2026 price lists put a statutory audit for a simple small company at HK$8,000 to HK$20,000, bookkeeping at HK$1,500 to HK$5,000 a month depending on transaction volume, profits tax return preparation at HK$3,000 to HK$8,000, and company secretarial retainers at HK$3,000 to HK$8,000 a year. Complex groups, high volumes and late records cost more.

Do I need a CPA for bookkeeping and tax?

No. Bookkeeping and tax computations can be done by any competent accountant or a corporate services firm, and many small companies use one provider for bookkeeping, company secretary and tax and a separate CPA firm for the audit. Auditor independence rules mean the auditor should not also be keeping the books.

What should I ask a CPA firm before engaging them?

Their AFRC registration number; who will actually do the work and who signs the audit; the fee basis and what triggers extra charges; turnaround time against the profits tax filing deadline; whether they hold a TCSP licence if they also act as company secretary; and how they handle Inland Revenue queries after filing.

When do I need to engage an auditor?

Before your first financial year end. The audited financial statements must be laid before the annual general meeting within nine months of year end for a private company, and the Inland Revenue expects them with the profits tax return, which for most companies is due between May and November under the block extension scheme.

How to Choose a CPA Firm in Hong Kong (2026 Guide)

Every active Hong Kong company needs an auditor, and only a firm registered with the Accounting and Financial Reporting Council may do that work. Everything else, bookkeeping, tax returns, payroll, company secretarial filings, can come from a wider pool of accountants and corporate services firms. Choosing well means knowing which is which, checking the register, and getting a clear fee basis. This guide explains the licensing, what the work costs in 2026, and what to ask. Browse Hong Kong CPA firms on Portal Hong Kong, hundreds of them, from Central to Kowloon.

Who is allowed to do what?

Service	Who can provide it	Regulator
Statutory audit and audit report	Only a CPA (practising), CPA firm or corporate practice registered with the AFRC	Accounting and Financial Reporting Council; HKICPA for membership
Bookkeeping and management accounts	Any accountant, bookkeeper or corporate services firm	None specific
Profits tax return and tax computation	Any accountant; a firm acting as tax representative files under the IRD block extension scheme	Inland Revenue Department
Company secretary and registered office	Any resident individual or a body corporate; a firm doing it as a business needs a TCSP licence	Companies Registry under the Anti-Money Laundering Ordinance
Payroll and MPF administration	Any provider	Mandatory Provident Fund Schemes Authority for the scheme itself

The AFRC took over registration of practising CPAs, CPA firms and corporate practices from the HKICPA on 1 October 2022. Its registration overview states that only a CPA (practising), a CPA firm or a corporate practice registered with it may hold an appointment or render a service as an auditor under the Companies Ordinance.

How do you check a firm?

Go to the AFRC's public registers: "Find a CPA (Practising)" and "Find a CPA firm or corporate practice" at afrc.org.hk.
Search the firm name as written on its engagement letter, or the registration number on its letterhead.
Check the status is current and the address matches. A CPA firm's audit report must be signed by a CPA (practising) named on the individual register.
If the firm is a corporate services provider that also offers company secretary services, check its TCSP licence on the Companies Registry's TCSP register.

Portal Hong Kong listings such as Kenneth Ip & Co., Vincent Kwok & Co., ST Lo & Co. and Rich Moral CPA Limited show the firm's address and contact details; the AFRC register is where you confirm the licence.

What does it cost in 2026?

Service	Typical 2026 fee (HK$)	What moves the price
Statutory audit, small private company	8,000 to 20,000; 8,000 to 30,000 for a simple company with a single activity	Transaction volume, group structure, inventory, quality of bookkeeping, deadline
Bookkeeping	1,500 to 5,000 a month, or a lump sum per year for low-volume companies	Number of transactions, bank accounts, currencies, software
Profits tax return and computation	3,000 to 8,000	Offshore claims, related-party transactions, IRD queries
Company secretary retainer	3,000 to 8,000 a year plus government fees	Number of changes filed; registered office included or not
Payroll and MPF	From a few hundred dollars per employee per month	Headcount, benefits, expatriate payroll

Ranges are from providers' published 2026 price pages, for example PAT CPA, HKICS and Peak Corporate. Fees at Big Four and mid-tier firms are several times higher and are usually reserved for groups, listed companies and regulated businesses.

What should you ask?

Registration. "What is your AFRC registration number, and who will sign the audit report?"
Independence. If the same firm keeps your books, ask how it separates the audit team. Many small companies use one firm for bookkeeping and another for the audit for exactly this reason.
Fee basis. Fixed fee or hourly; what counts as an extra (late records, IRD queries, consolidation, prior-year adjustments).
Timetable. When they need your records to meet the profits tax deadline, and what happens if you are late. See our guide to profits tax filing in Hong Kong for the dates.
Scope. Whether tax computation, IRD correspondence, annual return and company secretary filings are inside the quote. Our company secretary guide covers that side.
Communication. Who you call, in what language, and how quickly they answer. Test it before signing.

Which kind of firm fits which company?

Sole trader or one-person company with a few dozen transactions a month: a small CPA practice in Kowloon or Sheung Wan, or a corporate services firm with a partner CPA for the audit. The lowest fees and the most personal service.
Trading or e-commerce company with inventory and foreign currency: a mid-sized CPA firm with experience of your sector; ask for client references in the same trade.
Group with subsidiaries, investors or an eventual listing: a mid-tier or Big Four firm whose name bankers and investors recognise.
Company needing an offshore profits claim: a firm with a tax partner who has handled IRD enquiries on offshore claims; the paperwork decides the outcome.

Start with the CPA firm listings, filter by district (the Central, Wan Chai and Tsim Sha Tsui clusters are the densest), and shortlist three to quote. For what the audit itself involves, read Hong Kong statutory audit requirements for small companies.

Frequently asked questions

What is the difference between an accountant and a CPA in Hong Kong?: Anyone can call themselves an accountant or bookkeeper. A certified public accountant is a member of the Hong Kong Institute of Certified Public Accountants, and a CPA (practising) holds a practising certificate issued by the Accounting and Financial Reporting Council. Only a CPA (practising), a CPA firm or a corporate practice registered with the AFRC may sign a statutory audit report under the Companies Ordinance.
How do I check a CPA firm is registered?: Use the AFRC's public registers: 'Find a CPA (Practising)' for individuals and 'Find a CPA firm or corporate practice' for firms, on afrc.org.hk. The record shows the firm name, registration number and status. A firm not on the register cannot legally audit your company.
How much does an accountant cost in Hong Kong?: Published 2026 price lists put a statutory audit for a simple small company at HK$8,000 to HK$20,000, bookkeeping at HK$1,500 to HK$5,000 a month depending on transaction volume, profits tax return preparation at HK$3,000 to HK$8,000, and company secretarial retainers at HK$3,000 to HK$8,000 a year. Complex groups, high volumes and late records cost more.
Do I need a CPA for bookkeeping and tax?: No. Bookkeeping and tax computations can be done by any competent accountant or a corporate services firm, and many small companies use one provider for bookkeeping, company secretary and tax and a separate CPA firm for the audit. Auditor independence rules mean the auditor should not also be keeping the books.
What should I ask a CPA firm before engaging them?: Their AFRC registration number; who will actually do the work and who signs the audit; the fee basis and what triggers extra charges; turnaround time against the profits tax filing deadline; whether they hold a TCSP licence if they also act as company secretary; and how they handle Inland Revenue queries after filing.
When do I need to engage an auditor?: Before your first financial year end. The audited financial statements must be laid before the annual general meeting within nine months of year end for a private company, and the Inland Revenue expects them with the profits tax return, which for most companies is due between May and November under the block extension scheme.