SMP and SME Resource Centre

A Roadmap of an Audit Engagement 

This Roadmap outlines the essential steps of an audit engagement journey by building on key inspection findings related to the application of auditing and accounting standards, as identified by the Accounting and Financial Reporting Council (AFRC) in their inspection reports.

HKICPA On-demand E-learning

	HKICPA e-seminar: SMEs/SMPs: You should know …
	E- Seminar on The Small and Medium-sized Entity Financial Reporting Framework and Financial Reporting Standard
	HKICPA Technical E-learning courses

HKICPA Resource Centres

Explore the following specialized resource centers which provide a wide array of technical resources to help you stay current and elevate your professional knowledge and skills while conducting your engagements:

	Auditing and Assurance
	Code of Ethics for Professional Accountants
	New and Major Standards Resource Centre
	HKFRS for Private Entities Information Centre
	Illustrative Financial Reports and Disclosure Checklists
	Example Reports for Auditors and Companies
	Companies Ordinance Cap. 622
	Anti-money laundering
	Qualifying criteria for SME-FRF & SME-FRS

HKICPA Manuals

	Audit Practice Manual (2024 edition)
	Quality Management Manual
	Anti-Money Laundering Procedures Manual for Professional Accountants (Revised 2024)

Resources by Other Bodies

	Hong Kong Companies Ordinance (Cap. 622)
	International Auditing and Assurance Standards Board (IAASB)
	International Ethics Standards Board for Accountants (IESBA)
	International Financial Reporting Standards Foundation (IFRS)
	International Federation of Accountants (IFAC)
	IFAC Quality Management Toolkit for Small- and Medium- Sized Firms and Illustrative Risk Matrix
	IFAC Guide to Using ISAs on Auditing in the Audits of Small- and Medium- Sized Entities (2018) *

* These guides pre-date ISQMs/HKSQMs, ISA/HKSA 540 (Revised), ISA/HKSA 315 (Revised 2019) and ISA/HKSA 600 (Revised).

Last Updated: September 2024