Certified Public Accountants (Practising)

DEDICATED DEPENDABLE
Add 7/F., Hong Kong Trade Centre
161-167 Des Voeux Road CentraI Hong Kong
TeI (852)2541-6632
Fax (852)2541-9339
Email info@fungyucpa.com
Website www.fungyucpa.com

161-167 7
(852)2541-6632
(852)2541-9339
info@fungyucpa.com
www.fungyucpa.com
 OUR MISSION
Fung, Yu & Co. has been a dedicated firm of Certified Public Accountants, providing expertise

found in most international firms, with the individual attention and care that can only be found in

a smaller firm. We offer range of services from audit, taxation, accounting, business advisory and

company incorporation and support services. Our focus is to provide a close working partnership

with our clients in order to formulate strategies that assist them to grow as well as to comply with the

statutory requirements to fulfill corporate accountabilities.88888888888888888888888888888

Our teams of accountants and advisors consist of qualified professionals that have experience in

both the profession as well as commercial industry. Our professionals hold memberships with

various professional bodies, and demonstrate our commitment to the highest standard of services.

Throughout the years, we have concentrated in providing quality services to clients in Hong Kong,

China and other overseas countries. We continue to strive to maintain our high standard, in order

to serve our client and assist them to face the challenges ahead.88888888888888888888888

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 COMPANY PROFILE
Established in 1973, Fung, Yu & Company, Certified Public Accountants (Practising) has been serving
clients from every industry in Hong Kong. Our firm was previously practicing under the name of Fung
and Company, Chartered Accountants, which were registered under the Authorized Auditors Board,
the authority of the Hong Kong accounting profession by that time. Later, the firm merged with
Frederick Yu & Company that established in 1969 to become Fung, Yu & Company.888888888888

After years of practice, our firm has grown steadily from a small accounting partnership into a widely
known accounting firm in Hong Kong. Our clientele consist of hundreds of small and medium sized
enterprises, including manufacturers, merchandisers, property developers and also companies
trading as technology service providers, dealers in securities, insurance brokers, investment
companies, mutual fund, law firms, dental and medical clinics and other non-profit making
organizations such as schools, hospitals, charities and churches.88888888888888888888888888

We have devoted our services to assist clients in providing answers and solutions for the problems
that they face in the dynamic business world. Trying to understand our clients' needs and using our
professionalism to assist them while maintaining our independent role are our sole focus. Our
objective is to act as a valuable partner to the clients. After several decades of servicing our clients,
we believe that we have accumulated sufficient experience to assist our clients professionally and
efficiently in accounting, auditing and taxation matters. We minimize their burdens on administrative,
accounting, taxation and statutory issues which are costly and time-consuming if handled by
themselves.8888888888888888888888888888888888888888888888888888888888888888

Through developing loyalty and trust with our clients, we provide independent professional advice to
clients and assist them to go through the challenge ahead.888888888888888888888888888888

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 OUR PARTNERS
Mr. Fung Shiu Lam, Justice of the Peace, Bachelor of Arts, University of Hong Kong, fellow member
of the Institute of Chartered Accountants in England and Wales, member of the Institute of Chartered
Accountants of Ontario, Canada and fellow member of the Hong Kong Institute of Certified Public
Accountants, started his professional career by joining in 1961 the firm Wong, Tan & Co.,
Chartered Accountants (presently Deloitte Touche Tohmatsu). Few years later, he left the firm and
eventually took up the appointment as the Financial Controller of the Worldwide Shipping Agency Ltd,
one of the largest shipping companies in Hong Kong in 1960's. Mr. Fung started his own professional
practice under the name of Fung & Co., C.P.A. in 1964.88888888888888888888888888888888

Mr. Frederick Yu, Justice of the Peace, Bachelor of Arts, University of Hong Kong, member of the CPA
Australia and member of the Hong Kong Institute of Certified Public Accountants, started his
professional work as an audit manager with Coopers & Lybrand (presently PriceWaterhouseCoopers).
Later he left the firm and took up the appointment as the Assistant Financial Controller in Worldwide
Shipping Agency Ltd. Mr. Yu started his own practice under the name of Frederick Yu & Co., C.P.A. in
1969. In the year 1973, the above two practices merged to become Fung, Yu & Co., C.P.A..888888

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OUR PROFESSIONAL SERVICES
AUDIT AND ASSURANCE

An interactive approach is to be considered as paramount in undertaking an audit and assurance

assignment. Assisting clients to understand their needs and to give them timely advices on management
control will also be aimed at. At the same time we always keep in mind our basic role and responsibility
to report independently to the shareholders of the company. We offer the following audit and assurance
services:8888888888888888888888888888888888888888888888888888888888888888888888

Statutory Audit 88888888888888888888888888888888888888888888888888888888888888888

Companies incorporated in Hong Kong with limited liability, as stipulated by the Companies Ordinance
(Chapter 32, Law of Hong Kong), are obligated to appoint an external auditor to perform statutory audit.
An auditors' report together with audited financial statements is required to be presented to shareholders
for approval in Annual General Meeting every year. Besides, the Hong Kong Inland Revenue Department
also requi res t he su bmiss ion o f audited financial stateme nts with pr ofits tax r eturn for tax assessment purposes.

Our firm delivers quality audit in accordance with the Hong Kong Companies Ordinance and Hong Kong
Standards on Auditing issued by the Hong Kong Institute of Certified Public Accountants. During the course
of audit, various factors will be taken into consideration, such as mode of business operation, management
structure, inherent problem and risk management. We would keep our clients informed of any material
weakness we noted during the course of our audit so as to transmit a proper understanding of the financial
and control issues to the client.888888888888888888888888888888888888888888888888888888

In our auditors' report we express opinion regarding the truthfulness and fairness of the financial statements
of the client, and will make recommendations where necessary.88888888888888888888888888888888

Non-Statutory Audit88888888888888888888888888888888888888888888888888888888888888
Except carrying out normal statutory audit, our firm can also be engaged for special purpose audit based on
client's objective. Examples are:88888888888888888888888888888888888888888888888888888
Perform due diligence review during Merger and Acquisition or pre-listing,888888888888888888888
Comment on the internal control, external monitoring and inventory system,88888888888888888
Perform investigation and forensic audit on specific areas such as a suspected fraud case,88888888888
Audit a proprietorship or a partnership for enhancing reliability of financial statements.88888888888

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 OUR PROFESSIONAL SERVICES
TAX SERVICES

The system of taxation in Hong Kong is relatively simple but many of the regulations are still difficult to

comprehend. Our tax advisors, who are experienced in taxa tion aff airs of both in dividual s and

corporations, can assist you in reviewing your tax position and can offer practical solutions to minimize

your tax burdens.

Hong Kong taxation is based on a territorial source system. This implies that income or profits will only

be taxed if it arises in or is derived from Hong Kong. We provide a full range of taxation advisory and

compliance services including:

Tax consultation and planning for corporations and individuals,

Preparation of profits tax, salaries tax and property tax returns,

Compliance with relevant filing requirements and acting as tax representative to deal with the Hong Kong

Inland Revenue Department,

Representing clients in field audit and tax investigation cases.

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OUR PROFESSIONAL SERVICES
ACCOUNTING
Maintaining proper and accurate accounting records are indispensable parts of a company. Not only
required by statute, they also serve as an important element for management to make decisions. By
sub-contracting accounting work, enterprises can get timely and reliable solution to meet their needs.
Our accounting services can be p rovided on a mon thly, quarterl y or yearly basis and it is especially
suitable for:
Local clients that want to minimize staff cost,
Overseas clients t hat want i ndependent accounting function who can report directly to them regarding
their establishment in Hong Kong.
Please contact us for a consultation regarding your accounting needs, and see how we can help.
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Our Professional Services
MANAGEMENT CONSULTANCY
Being a trustworthy business advisor, Fung, Yu & Co. commits to provide clients with various tailor
-made management consultancy and administrative services. Inadequate cash flow management,
operatio nal inef ficiency and int ernal control problems are difficulties that a company may encounter
during expansion. We can provide consultancy engagement and solutions which can help clients in
solving their difficulties and can allow management to ru n and ex pand the ir bus ines s smoot hly.
We provide consultancy services in the following areas:
Building up an effective accounting system,
Building up an effective inventory control system,
Customizing fully integrated computerized accounting and internal control system,
Advising on merger and acquisition project,
Advising on Initial Public Offering on the Hong Kong Stock Exchange.
OUR PROFESSIONAL SERVICES
COMPANY INCORPORATION AND SUPPORT SERVICES

We provide company incorporation and secretarial services through our affiliate Harris Secretaries
Limited for companies to be incorporated in Hong Kong or other overseas jurisdiction. We can
assi st client to incorporate limited companies in various jurisdictions including:

British Virgin Islands,

Belize,
Cayman Islands,
Hong Kong,
P.R.C.,
Samoa,
United States.
Furthermore we can provide a range of ongoing corporate compliance and support services.

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