Important
Notice

Member services

 

The Hong Kong Institute of Certified Public Accountants announced the re-implementation of its precautionary measures, from Wednesday 25 March 2020 onwards until further notice, to close library facilities and to adjust the services hours of counter on the 27th floor to 11:00 a.m. to 3:00 p.m. from Monday to Friday, whilst counter services hours on Saturday remains unchanged (from 9:00 a.m. to 12:00 noon).

 

CPD and sports and recreation events

 

Face-to-face CPD events will be replaced by webinars. Sports and recreation activities will be cancelled.  Participants will receive further information via email.

 

For the latest advice, guidance and other updates, from the Institute, regulators and other bodies, please visit our regularly-updated COVID-19 – CPA Information Centre webpage.

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SME-FRF & SME-FRS (Issued August 2005) (old SME-FRF & SME-FRS)

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

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