CO-Rewrite - Non transitional QA
Questions and Answers on financial reporting issues relating to the new Companies Ordinance (Cap. 622) ("new CO")
(other than those relating to transition from the predecessor Ordinance (Cap. 32))
These Questions and Answers ("Q&As") have been developed by the HKICPA's Companies Ordinance Application Issues (Financial Reporting) Working Group (Working Group) and are endorsed by the HKICPA's Financial Reporting Standards Committee (FRSC). These Q&As will be updated from time to time to provide guidance on emerging financial reporting related application issues on the Hong Kong Companies Ordinance (Cap.622).
These Q&As have been developed by the Working Group to cover other financial reporting related application issues relating to requirements of the new Hong Kong Companies Ordinance (Cap.622) which are expected to have continuing relevance beyond the end of the first financial reporting year beginning on or after 3 March 2014. A separate series of Q&As has been developed by the Working Group to cover financial reporting related application issues specific to the transition from the predecessor Hong Kong Companies Ordinance (Cap. 32) to the new Hong Kong Companies Ordinance (Cap.622).
These Q&As are non-mandatory in nature and intended for general guidance only. Users of these Q&As should consider taking their own legal advice if in doubt as to their obligations under the Hong Kong Companies Ordinance.
The HKICPA, the FRSC and the Working Group do not accept responsibility or liability, and disclaim all responsibility and liability, in respect of the Q&As and any consequences that may arise from any person acting or refraining from action as a result of any materials in the Q&As.
All references to Parts, Divisions, Sub-divisions, Schedules and sections in the questions and answers are to the new CO, unless otherwise indicated.
Links to Q&As
- Part A – Directors' report
- Part B – Capital and reserves
- Part C – Preparation of financial statements (General Issues)
- Part D – SME-FRF & SME-FRS
- Part E – General
Last revision date: 19 June 2015