How much does it cost to engage an accounting firm for my company’s annual audit?

In Hong Kong, the fees charged by a practising accountancy firm for a company’s annual audit mainly depend on the scale of its business and the complexity of its transactions. For a small or medium-sized pharmaceutical wholesaler or retailer with annual turnover of several million Hong Kong dollars and a simple business model, the annual audit fee is usually between HK$8,000 and HK$20,000. If your company is larger, with annual turnover reaching tens of millions of Hong Kong dollars, or engages in complex international trade or transactions in multiple currencies, the audit fee may rise to tens of thousands or even more than HK$100,000. The fee usually also includes preparing and submitting your profits tax return.