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HKFRS 18 Navigator – Issue 7 now available
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Our latest Navigator highlights the consequential amendments introduced by HKFRS 18 Presentation and Disclosure in Financial Statements to other HKFRS Accounting Standards. The issue covers amendments to:
- HKAS 7 Statement of Cash Flows
- HKAS 33 Earnings per Share
- HKAS 34 Interim Financial Reporting
Read the full issue for practical insights into the implications of these amendments and actions entities may consider as they prepare for the effective date of HKFRS 18 on 1 January 2027.
Previous issues of the HKFRS 18 Navigator and other implementation resources are available on the Institute’s dedicated HKFRS 18 Resource Centre.
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Institute’s webinar – Key financial reporting reminders: Sustainability connectivity and the current risk environment
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Investors increasingly expect sustainability-related information and financial statements to present a coherent and connected picture of an entity’s performance and prospects. At the same time, the evolving risk environment continues to create financial reporting challenges for preparers.
Join our webinar on 30 October for a focused discussion on:
- the connectivity between financial statements and sustainability information; and
- the impact of the current risk environment on financial reporting.
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Institute’s webinar – HKFRS 13 Fair Value Measurement: What preparers and auditors need to get right
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HKFRS 13 establishes a single framework for measuring fair value and introduces extensive disclosure requirements. While the principles are well established, preparers and auditors often face practical challenges in applying the Standard, particularly in areas involving significant judgement and valuation uncertainty.
Join our webinar on 19 November for a focused discussion on:
- common application issues and audit considerations under HKFRS 13; and
- key regulatory focus areas and common findings from inspections and reviews.
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Institute’s auditing E-learning: HKSA 315 (Revised 2019): IT systems and controls
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In this e-learning, speakers will explain the IT-related requirements in HKSA 315 (Revised 2019) and provide practical and actionable guidance to help auditors meet these expectations effectively. Key discussions will include:
- understanding the entity’s IT environment;
- illustrative, industry-specific examples; and
- key observations from recent AFRC inspections.
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IAASB User Consultation Survey on audit evidence and risk response proposals
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The IAASB has launched a user consultation survey to gather feedback from users of financial statements on its proposed revisions to ISA 330 The Auditor's Responses to Assessed Risks, ISA 500 Audit Evidence and ISA 520 Analytical Procedures. Open until 15 December 2026, the survey allows users to comment on selected aspects of the proposals without responding to the full consultation package.
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IFAC article: How technology is changing what it means to be an auditor
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The article explores how AI, data analytics and automation are reshaping the audit profession, enabling auditors to focus more on professional judgement and assurance over systems, sustainability information and digital trust. While technology enhances audit quality and efficiency, trust remains grounded in auditors’ ethics, accountability and expertise.
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IESBA podcast on decoding ethics “The small firm advantage: Agility with AI ethics”
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In this podcast, IESBA technical staff explores how an outsider’s perspective can drive innovation in accountancy, examines the ethical challenges of adopting generative AI, and highlights the importance of professional judgment and accountability when using emerging technologies. It also discusses why small firms should embrace change thoughtfully and the key question every accountant should ask before relying on AI-generated outputs.
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HKFRS S1 and S2 implementation platform
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You are welcome to submit technical questions related to the implementation of HKFRS S1 and S2. Questions that meet the submission criteria will be considered for discussion at the upcoming meeting.
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Members may wish to be aware of the following matter:
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Announcements by the Inland Revenue Department (IRD)
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Members may wish to be aware of the following matters:
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Announcements by the government
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Members may wish to be aware of the following matters:
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Anti-money laundering/ Counter-terrorist financing (AML/CFT) notices and news
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Publications from other organizations:
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