Technology Voucher Program Audit
The ‘Technology Voucher’ (TVP) was launched in November 2016, aiming to support local enterprises/organizations in using technological services and solutions to enhance productivity or upgrade and transform business processes. After several months, once the funding is approved, a contract needs to be signed (for details, please see: Technology Voucher Signing Process). Upon completion of the project, an audit according to government requirements is needed to obtain the funding disbursement. As project audit differs from the usual annual financial audit, many accountants are unclear about the process. With a thorough understanding of the audit requirements for various government subsidies, HKTechMatch’s senior technology voucher consultants can assist you in communicating with accountants to complete an audit report that meets government requirements, thereby smoothly securing the funding.
1. What projects require an audit?
Starting from April 1, 2020, the government further optimized the Technology Voucher, increasing the funding ratio of each approved project from two-thirds to three-quarters, raising the maximum funding limit for each applicant from 400,000 Hong Kong dollars to 600,000 Hong Kong dollars, and increasing the maximum number of approved projects from four to six.
If the approved funding amount for the application project exceeds 50,000 Hong Kong dollars, the applying company must submit the final project report and the audited project expenditure statement prepared by an independent auditor to the Innovation and Technology Commission within two months after the completion of the project.
2.Documents Required for Audit
3. Technology Voucher Audit Expenses and Time
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