Human Resource
At A Glance
Client Industry: Human Resource
Client Overview: Incorporated in the Shanghai Free Trade Zone, the client employs about 10 people and specializes in providing professional recruitment consulting services in China.
Client Brief
- Funds transferred from the client’s parent company could not be recognised as injected capital due to non-compliant cross-border remittance procedures.
- Calculation and filing of social benefit contributions were non-compliant with local HR regulations, presenting a risk of disputes between employees and the company.
- Accounts prepared by the client’s local accountant could not be reconciled with bank statements, and supporting documents were insufficient.
How We Helped
- SBA Stone Forest (SBASF) reviewed the client’s accounts for the half year ended 31 December 2014 and provided solutions in the following areas:
- Ensured compliance with PRC GAAP
- Offered accounting advisory on regulatory compliance for capital injection and shareholders loan in accordance with foreign exchange rules
- Verified the completeness and accuracy of bookkeeping, including supporting documents
- Ensured full compliance with all relevant tax laws
- Prepared the accounts for audit purposes
Our Value
- The client successfully passed the annual statutory audit accounts prepared by SBASF.