Auditing and Assurance

The Institute

• HKSA 240 (Revised), The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements Including Conforming and Consequential Amendments to Other Hong Kong Standards
• Key Impacts: HKSA 240 (Revised)

IAASB

• Final Pronouncement and Basis for Conclusions (July 2025)
• Fact Sheet (July 2025)
• How the IAASB’s Revised Going Concern and Fraud Standards Reinforce Professional Skepticism (July 2025)
• Video series: What Auditors Need to Know About the New Fraud Standard
  • Introducing the Revised Fraud Standard
  • A Shaper Focus on Risk Assessment
  • A More Robust Response to Identified or Suspected Fraud
  • Enhanced Transparency in Auditor’s Report

Others

• PwC In depth IAASB Approved Standard: ISA 240 (Revised), The auditor’s responsibilities relating to fraud in an audit of financial statements (September 2025)

The Institute

• HKSA 570 (Revised 2024), Going Concern Including Conforming and Consequential Amendments to Other Hong Kong Standards on Auditing (HKSAs)
• Key Impacts: HKSA 570 (Revised 2024) Going Concern

IAASB

• Final Pronouncement and Basis for Conclusions (April 2025)
• Fact Sheet (April 2025)
• Frequently Asked Questions: Reporting Going Concern Matters in the Auditor’s Report (May 2025)
• How the IAASB’s Revised Going Concern and Fraud Standards Reinforce Professional Skepticism (July 2025)
• IAASB Explains Key Changes to ISA 570 (Revised 2024) – Going Concern (August 2025)

Others

• PwC In depth IAASB Approved Standard: ISA 570 (Revised 2024), Going Concern

The Institute

• Quality Management for Firms and Engagements Resource Centre
• HKICPA Panel Discussion Webinar: Audit Quality – A Culture of Professional Skepticism (August 2021)

AFRC 

• Inspection Insights: Root Cause Analysis and Remediation: A Call to Action for Quality Improvement (December 2024)
• Audit Focus: 2024 year-end audits (October 2024)
• Setting and Reinforcing Tone at the Top to Achieve Quality Audits (June 2024)
• Roundtable Discussion on Audit Quality and Climate-Integrated Audits in Hong Kong (June 2024)
• The Importance of Audit Documentation Integrity (May 2024)
• Audit Focus: 2023 Financial Year-end Audit Reminder (December 2023)
• Audit Focus: Effective Planning – They Key to High-Quality Audits (July 2023)
• Audit Focus: 2022 Financial Year-end Audit Reminder (December 2022)
• An External Auditor’s Guide to Performing Root Cause Analysis (June 2022)

Others

• CPA Canada Audit quality blog
• Financial Reporting Council UK Promoting audit quality
• ICAEW Supporting audit quality

The Institute

• HKSA 540 (Revised) Auditing Accounting Estimates and Related Disclosures
• HKICPA e-seminar: Update on Revised HKSA 540

IAASB

• IAASB Final Pronouncement and Basis for Conclusions
• Expected Credit Losses Illustrative Examples (August 2020)
• Simple and Complex Illustrative Examples (May 2020)
• Audit Client Briefing (November 2019)
• At a Glance (October 2018)

ICAEW

• Auditing Accounting Estimates Resources and Support Tools

The Institute

• HKSA 700 (Revised) Forming an Opinion and Reporting on Financial Statements
• HKSA 701 Communicating Key Audit Matters in the Independent Auditor's Report
• HKSA 705 (Revised) Modifications to the Opinion in the Independent Auditor's Report
• HKSA 706 (Revised) Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor's Report
• HKSA 720 (Revised) The Auditor's Responsibilities Relating to Other Information
• Auditor’s Responsibilities
• Frequently Asked Questions
• HKICPA E-learning: The Revised Auditor’s Report 
• First Year and Second Year Review of Revised Auditor’s Report (2017 and 2018)

HKICPA A-Plus Articles

• Second year experiences with revised auditor’s reports (January 2019)
• First year experiences with revised auditor’s reports (November 2017)
• New and revised HKSAs on auditor reporting and auditor's responsibilities relating to other information (December 2015)
• Making audit more communicative (October 2015)
• New and revised Auditor Reporting Standards (May 2015)

The Stock Exchange of Hong Kong

• Frequently Asked Questions (see FAQs 002-2017 to 004-2017)

IAASB

• Feedback Statement: Auditor Reporting Post-Implementation Review (June 2021)
• The New Auditor’s Report: Questions and Answers (November 2016)

The Institute

Publications

• Alert 50: Regulatory reporting under the Insurance Ordinance (Cap. 41) upon implementation of HKFRS 17 during the transitional period before the implementation of the Risk-based Capital Regime (March 2024) 
• Alert 46: Reminders for auditor’s reporting on the Insurance (Financial and Other Requirements for Licensed Insurance Broker Companies) Rules (March 2023)
• Alert 40: Auditor’s reporting requirements for the Funding Scheme for Children’s Well-being and Development (August 2021)
• Page 25 to 30 of HKICPA Quality Assurance Report 2020 (March 2021)
• Alert 36: Solicitors’ accounts reporting pitfalls (October 2020)
• Alert 35: Compliance work for regulated entities (June 2020)
• FAQ on Practice Note 840 Reporting on Solicitors' Accounts under the Solicitors' Accounts Rules and the Accountant's Report Rules

On Demand E-Learning

      Licensed Corporations:

• The Audit of Licensed Corporations and Associated Entities of Intermediaries for RA 13 and AFRC Inspection Findings (November 2024)
• Workshop: Compliance reporting on Securities and Futures (Client Money) Rules and Securities and Futures (Client Securities) Rules (November 2023)

      Investment Funds:

• Industry Update Relating to Investment Funds (2024) (January 2024)

• Industry Update Relating to Investment Funds (2023) (November 2023)

      Insurer or Insurance Broker Companies:

• Navigating Hong Kong Risk-based Capital: Key Considerations for Upcoming Annual Submission (April 2025)
• PN 810.2 (Revised), The Duties of the Auditor of an Insurer authorized under the Insurance Ordinance (February 2025)
• New Reporting Requirements for licensed insurance broker companies under the Insurance (Financial and Other Requirements for Licensed Insurance Broker Companies) Rules (April 2023)

      PN 840 Reporting Engagements:

• Solicitors’ Accounts Rules and PN840 Reporting Engagements (2024) (August 2024)
• Solicitors’ Accounts Rules and PN840 Reporting Engagements (2021) (January 2021)

AFRC

• Checkpoint - Reminders for Auditors’ Reporting on Licensed Corporations

The Institute

• HKICPA Alert No. 42: Update on impact of Coronavirus Outbreak on Audits and Auditors (March 2022) 
• Auditing and COVID-19, A quick guide (August 2020)
• HKICPA Alert No. 32: Impact of Coronavirus Outbreak on Audits and Auditors (February 2020)

The Stock Exchange of Hong Kong

• COVID-19 Pandemic: FAQ, Guidance and Statements

Others

• CPA Australia Reporting and auditing during COVID-19
• IAASB Guidance for Auditors During the Coronavirus Pandemic
• ICAEW Coronavirus and audit