The audit landscape in China is such that the large multinational audit firms charge high international rates, which means that companies often turn to the huge pool of local Chinese audit firms to save on costs, although the quality of Chinese auditorsâ€™ work can be below international standards.
Foreign companies who use local Chinese audit firms often encounter several problems:
Fiducia can manage the entire audit process between the clientâ€™s Chinese subsidiary and a trusted local audit partner to ensure transparency and maximum understanding between both parties, with the ultimate goal of making the Chinese auditorâ€™s work clear and comprehendible so that the clientâ€™s main auditor can effectively evalute the clientâ€™s business in China. Fiducia is experienced and able to provide the following services:
Consolidation of accounts in accordance with Head Officeâ€™s policies
Setting up controlling systems