Why does Hong Kong's fiscal year start and end from April to March?

First of all, the Hong Kong government has not uniformly stipulated that the accounting year of enterprises is 1 year from April to March 3 1 year. The fiscal year is decided by each company. All kinds of enterprises can determine their own fiscal year according to their own actual conditions, some adopt the Gregorian calendar year, and some adopt July 1 to June 30 of the following year, but most enterprises set the fiscal year as April 1 to March 3 1 of the following year, which is consistent with the fiscal (tax) year in Hong Kong. This will help accounting firms avoid over-concentration in auditing annual accounting statements, make the work more balanced throughout the year, and ensure the audit quality.