Is a Hong Kong Certified Public Accountant permitted to sign an auditor's report on behalf of a foreign limited company?

Yes, Hong Kong practicing accountants can issue audit reports for non-Hong Kong companies, but one key prerequisite must be met:

1. Confirm the Specific Legal Requirements of the Place of Registration

   • This is the first and most crucial step. Although the laws of jurisdictions like the BVI and the Cayman Islands generally permit this, the safest approach is to verify the latest Companies Law and related regulations of that jurisdiction and check the company's articles of association for any special provisions regarding auditor qualifications or auditing standards. Some countries (for example, Mainland China) may explicitly require that audits must be performed by locally registered accountants.

2. Clarify the Intended Use of the Audit Report

   • Who is the audit report being prepared for? Is it to satisfy:

     • Annual compliance filings in the company's place of registration? → It is necessary to confirm whether the government of the place of registration accepts IFRS reports issued by Hong Kong accountants.

     • Regulatory disclosures for the Hong Kong Stock Exchange? → It is mandatory to use HKFRS/IFRS, and the audit must be performed by a qualified practicing firm (which includes Hong Kong accounting firms).

     • Applying for a bank loan? → The specific requirements put forward by the bank must be met.

   • Clarifying the purpose helps ensure the final report is compliant and effective.

Summary

The professional qualifications and international perspective of Hong Kong practicing accountants enable them to provide high-quality audit services for multinational corporations. Provided that the laws of the non-Hong Kong company's place of registration allow it, entrusting a Hong Kong practicing accountant to perform the audit is not only feasible but is often the preferred solution in many cases (especially those involving international capital markets).