NAVIGATION

MEMBERS' HANDBOOK

Handbook Update No. 321 revises practice note (PN) 820 (Revised), The Audit of Licensed Corporations and Associated Entities of Intermediaries in Members’ Handbook Volume III. It is updated for reporting in relation to the implementation of Type 13 regulated activity (RA 13) as a result of the amended Securities and Futures Ordinance and subsidiary legislation which became effective on 2 October 2024.

Institute submission

The Institute has submitted its comment letter on the International Accounting Standards Board (IASB) Exposure Draft Equity Method of Accounting.

Institute’s educational guidance: Accounting implications of the government subsidy scheme for the abolition of the MPF-LSP offsetting arrangement

The Institute has published educational guidance on the accounting implications of the government subsidy scheme for the abolition of the Mandatory Provident Fund (MPF) – Long Service Payment (LSP) offsetting arrangement in Hong Kong (the Abolition). This guidance is an extension of the educational guidance on the accounting implications of the abolition published by the Institute in July 2023 and should be read therewith.

E-learnings: archived webinars on financial reporting

The Institute hosted a series of live webinars in the last quarter, covering a range of hot topics in financial reporting. These sessions have been archived for members’ access. Enrol now if you missed any of these webinars.

Podcast series on the IFRS for SMEs Accounting Standard

The IASB has launched a new podcast series focused on the forthcoming third edition of the IFRS for SMEs Accounting Standard (Standard). This series aims to inform stakeholders about key updates to the Standard, share insights on those updates, and provide information on where to find related resources.

The first episode discusses the key updates to the Standard, the IASB’s approach to updating the Standard and engagement with stakeholders throughout the review process.

IFRS for SMEs Accounting Standard January Update

The IFRS for SMEs Accounting Standard January Update is now available.

HKICPA e-learning series: Towards an effective and efficient audit

Sign up for the Institute’s e-learning sessions, which cover the following selected key topics in auditing. Speakers will highlight relevant requirements, discuss pitfalls identified in regulatory inspections, and offer practical tips to help you avoid them:

Enrol and refresh your knowledge for the upcoming year-end audit.

ICAEW audit and beyond

The January issue of the Institute of Chartered Accountants in England and Wales (ICAEW) Audit and Beyond features articles that provide auditors with essential resources and insights:

Hot topics and tips for 2025 discusses the revised ISA 600 for group audits, along with available supporting resources and webinars.
An article on ISSA 5000 introduces the IAASB’s new sustainability assurance standard and guidance materials that accompany it.
Ways to enhance root cause analysis highlights key messages and good practices that are particularly useful for smaller firms.

If you are interested in accessing the ICAEW online audit and assurance resources, please contact Member Engagement Department at me@hkicpa.org.hk for free enrolment on a first-come, first-served basis. Limited spots available. Please note that your name and email address will be shared with the ICAEW for communication purposes.

HKICPA auditing and assurance resources

Access the Institute's A Roadmap of an Audit Engagement which outlines the essential steps in the audit journey. This roadmap integrates key findings from the Accounting and Financial Reporting Council (AFRC) along with relevant technical resources and materials to assist practitioners effectively navigate the various stages of an audit engagement.

A collection of technical resources and publications is also available at the Institute’s Auditing and Assurance Resource Centre which will keep you updated on the latest auditing and assurance pronouncements.

IESBA global ethics sustainability standards

The International Ethics Standards Board for Accountants (IESBA) has published new ethics and independence standards for sustainability reporting and assurance and for using the work of experts. Set to take effect on 15 December 2026, these landmark standards provide a robust ethical framework for reporting and assuring sustainability-related information that promotes high-quality, reliable information for decision-making by investors, government, regulators and other stakeholders. The Institute will follow its due process for the convergence and adoption of these standards.

IESBA project on firm culture and governance

The IESBA has initiated a standard-setting project on firm culture and governance, implmenting the recommendations from the Working Group on Firm Culture and Governance in its fact-finding report. The project aims to develop a principles-based culture and governance framework for accounting firms that promotes, supports and reinforces high standards of ethical behavior across all their professional services.

HKICPA ethics resource centre

Access resources and publications at the Institute’s Resource Centre to the Code where you can stay informed about the latest ethics pronouncements. Watch this video to learn how to easily access these valuable resources.

Announcements by the Inland Revenue Department (IRD)

Members may wish to be aware of the following matters:

Announcements by the government

Members may wish to be aware of the following matters:

Anti-money laundering (AML) notices and news

Industry update

Institute members can participate for free in the live webinar titled, "Mastering AML/CTF Compliance: Regulatory Updates, Strategic Frameworks and RegTech Solutions" organized by Ingenique Solutions (Ingenique). The event will be held on 25 February.

Ingenique has enhanced its offers for HKICPA members, which now include:

Up to 18% discounts on SentroWeb^® AML/CTF solutions
50% off on SentroWeb^® Pro upgrade
A free AML Policies, Procedures, and Controls Template with the sign-up for the Premium 10K package for three years

Sanctions update

AML notices:

For the current lists of terrorists, terrorist associates and relevant persons/ entities under United Nations sanctions, members should refer regularly to the Institute's AML webpage. Other useful documents and guidance can also be found on the same page.

Publications from other organizations:

Collaborate or stagnate: 6 CFO trends for 2025 from CFO.com
5 risk-taking lessons from founders who bet big and won from Entrepreneur.com
4 actions for CFOs to stay ahead on ESG from Financial Management
Risk management mantras to add to your daily practice from Journal of Accountancy
Building careers and changing lives: a decade of impact with generation by McKinsey & Company

Disclaimer: Some sections contain external links and information from outside sources. We endeavour to link to reputable sources but the Institute is not responsible for the accuracy or content of the external site, and the content does not necessarily represent the views of the Institute. We recommend using your discretion when visiting these links.

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