Annual requirement · every foreign-invested entity
Every foreign-invested company in China closes a financial year and then has to prove it: audited financial statements behind a combined annual report filing due 30 June. We run the audit, issue the report in English, and get you the documents list early enough to actually hit the date.
Timing
Most of the panic we see comes from discovering these dates in May. We plan backwards from them.
The corporate income tax annual settlement for the previous year is due. It needs the year-end figures settled, not draft.
The combined annual report filing, which carries the audited financial statements, is due through the national enterprise credit system.
Books closed, fieldwork done, adjustments agreed. This is when the audit is cheap and calm. After April it is neither.
Scope of services
Written out in detail on purpose. If you are comparing firms, this is the list to put side by side with theirs.
Deliverables
The full set under PRC GAAP, in English, in Chinese, or bilingual in one bound document.
Signed by the engagement partner and carrying our practice licence number. Explains exactly what the opinion covers.
Every control weakness and accounting issue we found, ranked by severity, with what to do about it.
PRC GAAP to your reporting basis, every adjusting entry explained and evidenced.
What to file, where, and by when — including the combined annual report step.
Invoice and engagement letter in English, so it can be processed at head office without translation.
Also worth knowing
The audit confirming distributable profit that your bank will want before a dividend leaves China.
The annual corporate income tax settlement prepared on the back of the audited figures.
We deal with your group auditor directly, in English, and provide the working papers they ask for.
Indicative fee
The statutory audit is priced off a published band table: we take your revenue or your total assets, whichever is larger, and read the fee off the scale. Nothing is priced per enquiry, and the figure is fixed in writing before fieldwork starts.
Enter your revenue or total assets above and the price appears here.
Process
Entity type, what has been requested, and when it is due. One email is enough to start.
We come back within one business day with a written scope, a fixed fee and dates.
One document request list. We work from it, and visit site only where the work genuinely needs it.
Signed output in English or bilingual, plus support through whatever filing follows.
Fees
Fixed, in writing, before fieldwork starts. The drivers below are the ones that actually move the number — we tell you which of them apply to you in the first reply, not after you have signed.
FAQ
In practice yes. The combined annual report filing carries the audited financial statements, and banks, tax bureaus and parent-company auditors all expect a signed PRC audit. Whether a specific entity is caught depends on its industry and scale, so ask us and we will tell you plainly.
Yes. English, Chinese, or bilingual in a single bound document. It is written by the auditor signing the report rather than translated afterwards, and there is no surcharge.
Yes. We prepare a reconciliation from PRC GAAP to your reporting basis with every adjusting entry explained and evidenced, in a format your group auditor can use directly.
That is common and it is not a problem to raise. We tell you what needs rebuilding before the audit starts, quote it separately, and agree it with you before doing the work.
Usually not. Most of the work runs on documents and remote access to the accounting system. Where a site visit or an inventory count is genuinely required, it is quoted in advance.
Tell us the entity type, the financial year and when the filing is due. You will have a written scope, a fixed fee and a document list within one business day.