SME-FRF & SME-FRS (Issued August 2005) (Old SME-FRF & SME-FRS)
Effective for a Qualifying Entity's financial statements which cover a period beginning on or before 2 March 2014

Click here to download the Old SME-FRF & SME-FRS, including the illustrative financial statements.


Qualifying criteria


  • For the companies incorporated under the predecessor Companies Ordinance, Cap. 32


A company incorporated under the predecessor Companies Ordinance, Cap. 32, qualifies for reporting under the SME-FRF if it satisfies the criteria set out in section 141D of the predecessor Companies Ordinance.


  • For the companies NOT incorporated under the Hong Kong Companies


Subject to any specific requirements imposed by the law of the entity's place of incorporation and subject to its constitution, such companies qualify for reporting under Old SME-FRF & SME-FRS if:

(a) All of its owners agree to prepare the financial statements in accordance with the SME-FRS;
(b) Do not have public accountability under paragraph 22-23 of Old SME-FRF; and
(c) Meet the size test under paragraph 24-26 of Old SME-FRF.


Reference material



Last updated: 6 March 2014