News
Updates and Insights
24 Sep 2025
Business Management
Finding the right accountant or accounting firm for your financial compliance needs can make a world of difference for your business
Choosing the right professional accountant or accounting firm for your financial compliance needs is a pivotal decision that goes beyond mere checklist fulfillment—it's a crucial investment in the long-term sustainability and growth of your enterprise.
6 Aug 2025
Financial Reporting
Enhancing the Reporting of Uncertainties in Financial Statements
On 24 July 2025, the IFRS Foundation released near-final illustrative examples aimed at improving the reporting of uncertainties in the financial statements. These examples guide companies on using IFRS standards to enhance their disclosures regarding uncertainties. Importantly, these illustrations do not change the existing IFRS requirements; instead, they provide insights for better reporting practices.
6 Aug 2025
Auditing and Quality Control
Regulator’s Inspection Insights – Root Cause Analysis and Remediation: A Call to Action for Quality Improvement
On 31 December 2024, the Hong Kong Accounting and Financial Reporting Council (AFRC) published a report titled "Inspection Insights – Root Cause Analysis and Remediation: A Call to Action for Quality Improvement”. This report aims to enhance Root Cause Analysis (RCA) and the remediation process in the auditing profession to elevate audit quality and ensure compliance with the Hong Kong Standard on Quality Management 1.
1 Aug 2025
Auditing and Quality Control
Key Highlights of the ISQM 1, HKSQM 1 and HK Regulator’s 2023 Inspection Insights
Auditors play a crucial role in bolstering stakeholder confidence within capital markets, as accurate and reliable information is vital for informed decision-making. The introduction of the System of Quality Management (SQM) is pivotal for enhancing audit quality, ultimately driving long-term value creation for all stakeholders involved.