The Hong Kong Institute of Certified Public Accountants announced that from Wednesday 15 July 2020 until further notice, the closure of the library facilities and the adjustment of the services hours of the counter on the 27th floor from 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).

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References on 2010 version of HKFRS for Private Entities

References issued by the Institute

  • Illustrative financial statements
    • Example Directors' Report,  Auditor's Report and  Illustrative Financial Statements for Private Entities prepared in accordance with the HKFRS for Private Entities (with Hong Kong Companies Ordinance disclosures)



  • Submission to SME Implementation gorup


Q&A Issue 1 (2011/01)

"Use of the IFRS for SMEs in parent’s separate financial statements"


Q&A Issue 2 (2011/02)
"Entities that typically have public accountability"


Q&A Issue 3 (2011/03)
"Interpretation of 'traded in a public market'"

Q&A Issue 4 (2011/04)
"Investment funds with only a few participants"

Q&A (General, Issue 1)  "Application of the IFRS for SMEs for financial periods ending before the IFRS for SMEs was issued"

Q&A (General, Issue 2)  "Interpretation of "undue cost or effort" and "impracticable""

Q&A (Section 3, Issue 1) "Jurisdiction requires fallback to full IFRSs"

Q&A (Section 3, Issue 2) "Departure from a principle in the IFRS for SMEs"

Q&A (Section 3, Issue 3) "Prescription of the format of financial statements by local regulation"

Q&A (Section 30, Issue 1) –  Recycling of cumulative exchange differences on disposal of a subsidiary

Q&A (Section 11, Issue 1) – Fallback of IFRS 9 Financial Instruments


References Issued By IASB

The World Bank has made available for viewing on their website a two-part webcast presentation by Paul Pacter (IASB Board Member and Director, Standards-SMEs) An Overview of the IFRS for SMEs. Each part is approximately one hour long. The presentation reviews the requirements in each of the 35 sections of the IFRS for SMEs and highlights differences with full IFRSs.


To view the webcast presentations:




Last updated: 4 October 2017