Tag: hkicpa

Hong Kong’s Securities and Futures Commission’s dispute with EY, as well as new accounting rules from China, highlight the need for clarity over audit papers.

The new revenue standard is attracting attention as it comprehensively overhauls the way revenue is recognised.

China’s finance ministry has proposed eliminating audit licences for overseas-listed Chinese companies, throwing into doubt Alibaba’s planned IPO. Experts suggest state secret security could be a factor for the escalating tension.

China regulators have jointly required that all foreign invested enterprises (FIEs) file an online report on operations; The Hong Kong Institute of Certified Public Accountants issued new guidelines for financial reporting; and the RBI has released recommendations for benchmark rate reform.

A ban on auditors of US-listed Chinese companies threatened by the US regulator is unlikely to affect Hong Kong Chinese listings.