Occasionally, parties to a contract may find themselves in a difficult situation where they don’t agree on some accounting figures, but don’t want to ruin their relationship either through litigation or arbitration. Neither do they want to waste time on mediating a ‘trivial’ issue.
It may be wise on such occasions, to make a request (“Request“)to the Hong Kong Institute of Certified Public Accountants (“Institute“) to nominate a third party certified public accountant (“CPA“) to do the accounting work and give a number that both parties will agree upon.
Requests are sent to the President of the Institute (“President“) to nominate a practice of certified public accountants CPAs registered with the Institute to perform statutory audits, professional service of valuing company shares, taking custody of property in dispute as well as other services of similar nature.
Such Requests will be considered by the Institute on a case by case basis.