2025

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What's new - 2025

This section contains major materials published by the Institute’s Standard Setting Department in 2025.

Financial Reporting

Publications

Item	Date of Issue	Title
2025-8	19 September 2025	Alert 51: Supporting Your Professional Work on Virtual Assets
2025-7	20 August 2025	A Plus Article: An overview of the revised HKFRS for Private Entities Accounting Standard (July 2025) A Plus Article: Improving IAS 37 for recognizing and measuring provisions (July 2025)
2025-6	30 April 2025	A Plus Article: Amendments to HKFRS 9 and HKFRS 7 on the classification and measurement of financial instruments
2025-5	30 April 2025	A Plus Article: Improving the equity method of accounting
2025-4	29 April 2025	Key impact of the 2025 revised HKFRS for Private Entities Accounting Standard on local entities
2025-3	21 February 2025	Educational guidance: Financial reporting considerations for closing out 2024
2025-2	4 February 2025	A Plus Article: Strengthening financial reporting for climate-related and other uncertainties
2025-1	22 January 2025	Educational guidance: Accounting implications of the government subsidy scheme for the abolition of the MPF-LSP offsetting arrangement

Comment letters

Item	Date of Submission	Subject
2025-3	13 October 2025	IASB Request for Information Post-implementation Review of IFRS 16 Leases
2025-2	11 March 2025	IASB Exposure Draft Provisions — Targeted Improvements (Proposed amendments to IAS 37)
2025-1	20 January 2025	IASB Exposure Draft Equity Method of Accounting IAS 28 Investments in Associates and Joint Ventures (revised 202x)

Webcasts

Item	Date of issue	Title
2025-13	17 October 2025	E-learning: Enhancing Insurance Enterprise Risk Management Framework under HKRBC Pillar 2 (1CPD hour)
2025-12	9 September 2025	E-learning: Navigating the latest accounting updates: Insights for SMEs and SMPs (1 CPD hour)
2025-11	15 July 2025	E-learning: Financial reporting considerations for evolving tariff (1.5 CPD hours)
2025-10	10 July 2025	E-learning: Accounting considerations related to ESG and climate-related risks (1.5 CPD hours)
2025-9	2 July 2025	E-learning: HKFRS 18 in Focus - Practical Insights for Implementation (1.5 CPD hours)
2025-8	16 June 2025	E-learning: Navigating Hong Kong Risk-based Capital: Key Considerations for Upcoming Annual Submission (1.5 CPD hours)
2025-7	17 February 2025	E-learning: Accounting updates on financial instruments (2 CPD hours)
2025-6	17 February 2025	E-learning: Accounting updates for Small and Medium-sized entities (1.5 CPD hours)
2025-5	17 February 2025	E-learning: Unlocking HKFRS 18 – An Overview of New Presentation and Disclosure Requirements (1.5 CPD hours)
2025-4	17 February 2025	E-learning: Year-end reminders for insurers – Preparing for the year after implementation of HKFRS 17 Insurance Contracts (1.5 CPD hours)
2025-3	11 February 2025	E-learning: Year-end Financial Reporting Reminders for 2024 (2 CPD hours)
2025-2	10 January 2025	E-learning: Common application issues of HKFRSs (1.5 CPD hours)
2025-1	8 January 2025	E-learning: Hong Kong Risk-based Capital: Key Features, Par Fund Management and Implementation Issues (Part 2) (1 CPD hours)

Auditing and Assurance & Code of Ethics

Publications

Item	Date of Issue	Category	Subject
2025-16	28 October 2025	Auditing and Assurance	Key Impacts – HKSA 240 (Revised), The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements
2025-15	28 October 2025	Auditing and Assurance	AATB 5 (Revised), Environmental, Social and Governance (ESG) Assurance Reporting
2025-14	3 October 2025	Code of Ethics	Key Impacts – Ethics Standards for Sustainability Assurance and Other Revisions to the Code Relating to Sustainability Assurance and Reporting Key Impacts – Revisions to the Code Addressing Using the Work of an External Expert
2025-13	19 September 2025	Auditing and Assurance & Code of Ethics	Alert 51: Supporting Your Professional Work on Virtual Assets
2025-12	4 August 2025 27 August 2025	Auditing and Assurance	HKSSA 5000 General Requirements for Sustainability Assurance Engagements: Frequently Asked Questions (updated)
2025-11	31 July 2025	Auditing and Assurance	A Plus Article: A new HKSA for audits of less complex entities – An overview of the application of the HKSA for LCE
2025-10	23 July 2025	Auditing and Assurance	Key Impacts: HKSA 570 (Revised 2024) Going Concern
2025-9	29 May 2025	Auditing and Assurance	Circular on Reporting under Rule 4.2 and Rule 4.4 relating to Net Asset Requirement, Rule 4.6 relating to Investment Requirements and Rule 6.2 relating to Portfolio Maintenance Requirements of the New Capital Investment Entrant Scheme
2025-8	23 May 2025	Auditing and Assurance	Circular on Reporting under Section 20 of the Product Eco-responsibility (Regulated Electrical Equipment) Regulation (Cap. 603B) (Revised May 2025)
2025-7	30 April 2025	Auditing and Assurance	A Plus Article: A new milestone in sustainability assurance: An overview of HKSSA 5000
2025-6	30 April 2025	Auditing and Assurance	The HKSA for LCE: Basis for Conclusions The HKSA for LCE: Frequently Asked Questions
2025-5	18 March 2025	Auditing and Assurance	AATB 2, Guidance to the Auditor when Responding to Questions at an Annual General Meeting (March 2025) AATB 6 Non-Authoritative Guidance on Applying HKSAE 3000 (Revised) to Extended External Reporting (EER) Assurance Engagements (March 2025) Circular on Reporting to Grantees of the Language Fund (March 2025) Circular on Reporting to Grantees of the Quality Education Fund (March 2025) Circular on Reporting on the Audit of Schools (March 2025) Audit of Financial Statements of Owners’ Corporations of Buildings Audit Issues - Q&As (March 2025) Suggested Chinese translation of engagement letter under HKSA 210, Agreeing The Terms of Audit Engagements effective for audits of financial statements for periods ending on or after 15 December 2016 (March 2025) Suggested Chinese translation of unmodified auditor’s reports based on HKSA 700 (Revised), Forming an Opinion and Reporting on Financial Statements for financial statements prepared in accordance with HKFRSs, SME-FRS and HKFRS for Private Entities effective for audits of financial statements for periods ending on or after 15 December 2016 (March 2025) Suggested Chinese translation of auditor's reports under HKSA 720 (Revised), The Auditor’s Responsibilities Relating to Other Information effective for audits of financial statements for periods ending on or after 15 December 2016 (March 2025) Illustrative auditor’s report on financial statements of a listed Exchange Traded Fund or a listed Real Estate Investment Trust (March 2025) Illustrative auditor’s report on financial statements of a public fund established in the form of an Open-ended Fund Company (March 2025)
2025-4	18 March 2025	Auditing and Assurance	Basis for Conclusions – Amendments to Hong Kong Standard on Auditing 700 (Revised), Forming an Opinion and Reporting on Financial Statements
2025-3	10 March 2025	Auditing and Assurance	Key Impacts – HKSSA 5000, General Requirements for Sustainability Assurance Engagements
2025-2	7 March 2025	Auditing and Assurance	AATB 7, Determining the Appropriateness of the Auditor’s Reporting Framework – Assurance or Agreed-upon Procedures Engagements
2025-1	28 February 2025	Auditing and Assurance	Circular on Reporting under Rule 4.2 and Rule 4.4 relating to Net Asset Requirement and Rule 4.6 relating to Investment Requirements of the New Capital Investment Entrant Scheme (updated as at 28 February 2025)

Comment letters

Item	Date of Submission	Category	Subject
2025-3	18 July 2025	Auditing and Assurance	IAASB Exposure Draft: Proposed Narrow-Scope Amendments to IAASB Standards Arising from the International Ethics Standards Board for Accountants’ (IESBA) Using the Work of an External Expert Project
2025-2	24 June 2025	Ethics	IESBA Consultation Paper: Collective Investment Vehicles and Pension Funds – Auditor Independence
2025-1	26 March 2025	Auditing and Assurance	IAASB Post-Exposure Consultation: Invitation to Comment Before the IAASB Finalizes the Narrow Scope Amendments to the ISQMs and ISAs as a Result of the Revisions to the Definitions of Listed Entity and Public Interest Entity in the IESBA Code

Webcasts

Item	Date of issue / event	Category	Title
2025-14	10 October 2025	Auditing and Assurance	Sustainability Assurance Series - E-learning (Workshop 1): Groups Sustainability Assurance Engagements (2 CPD hours)
2025-13	10 October 2025	Auditing and Assurance	Sustainability Assurance Series - E-learning (Workshop 2): Risk Identification and Assessment (2 CPD hours)
2025-12	10 October 2025	Auditing and Assurance	Sustainability Assurance Series - E-learning (Workshop 3): Responding to Risks of Material Misstatement (2 CPD hours)
2025-11	29 September 2025	Auditing and Assurance	E-learning: Mastering Assurance & AUP Series - Practical Application of Assurance and AUP Standards (2 CPD hours)
2025-10	2 September 2025	Ethics	HKICPA Ethics E-learning: Exploring the Fundamental Principles and Independence Requirements of the Code (1 CPD hour)
2025-9	9 July 2025	Auditing and Assurance	E-learning: Sustainability Assurance Series – Overview of HKSSA 5000, General Requirements for Sustainability Assurance Engagements (1.5 CPD hours)
2025-8	3 July 2025	Auditing and Assurance	E-learning: Mastering Assurance & AUP Series - Navigating Assurance and AUP Standards (1 CPD hour)
2025-7	28 February 2025	Auditing and Assurance	E-learning: PN 810.2 (Revised), The Duties of the Auditor of an Insurer authorized under the Insurance Ordinance (1 CPD hour)
2025-6	26 February 2025	Auditing and Assurance	E-learning: The Audit of Licensed Corporations and Associated Entities of Intermediaries for RA 13 and AFRC Inspection Findings (1 CPD hour)
2025-6	24 February 2025	Auditing and Assurance	E-learning: Industry Update Relating to Investment Funds (2024) (1 CPD hour)
2025-5	20 January 2025	Auditing and Assurance	E-learning: Audit Sampling and Journal Entry Testing (1.5 CPD hours)
2025-4	20 January 2025	Auditing and Assurance	E-learning: External Confirmations and Audit Documentation (1.5 CPD hours)
2025-3	20 January 2025	Auditing and Assurance	E-learning: Auditing Opening Balances and Related Parties (1.5 CPD hours)
2025-2	8 January 2025	Ethics	E-learning: Tax Planning Revisions to the Code and Implications in Tax Practice (1.5 CPD hours)
2025-1	8 January 2025	Ethics	HKICPA Ethics E-learning: Technology-related Revisions to the Code (1.5 CPD hours)

Sustainability Reporting

Publications

Item	Date of Issue	Subject
2025-2	August 2025	HKFRS Sustainability Disclosure Standards Guidance Part 1
2025-1	February 2025	A Plus Article: Recent developments in sustainability disclosure standards in Hong Kong

Comment letters

Item	Date of Submission	Subject
2025-1	26 June 2025	Response to ISSB survey: Exposure Draft Amendments to Greenhouse Gas Emissions Disclosures

Webcasts / Workshops

Item	Date of issue/event	Title
2025-5	23 June 2025	HKFRS SDS Workshop Series: GHG Emissions (Scopes 1, 2 and 3)
2025-4	3 June 2025	HKFRS SDS Workshop Series: Linkage between Accounting Standards and Sustainability Standards, Integrating climate-related risks into Enterprise Risk Management
2025-3	21 May 2025	HKFRS SDS Workshop Series: Climate risk and opportunities, Scenario analysis & Anticipated Financial Effects
2025-2	8 May 2025	HKFRS SDS Workshop Series: Key principles in HKFRS S1 & Stakeholder Engagement
2025-1	23 January 2025	E-learnings: Charting Sustainability Reporting in Hong Kong – Public briefing on HKFRS S1 and S2 (Enrollment for 1 Free CPD hour: Cantonese or English; View here: Cantonese or English; Mainland China access: Cantonese or English)

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