NAVIGATION

 

 

 

 

 

 

 

Invitation to comment

 

The Institute is seeking comments on the International Sustainability Standards Board (ISSB) Exposure Draft IFRS Sustainability Disclosure Practice Statement 1 Nature-related Disclosures by 12 January 2027. The Exposure Draft, Basis for Conclusions and Accompanying Guidance, as well as a snapshot summarizing the proposals, are available on the Institute’s website.

 

The Institute’s Financial Reporting Standards Committee meeting minutes

Minutes of the September 2026 meeting are now available.

Institute Virtual Conference: Annual Accounting and Sustainability Update 2026: What Matters Now, What Comes Next

The financial and sustainability reporting landscape continues to evolve amid new reporting requirements, an increasingly uncertain business environment and shifting regulatory demands. Entities must keep pace with the latest developments while preparing for significant upcoming changes. Join us at the Annual Accounting and Sustainability Update Conference on 21 November to learn how to navigate these critical changes. Topics covered include:

• Institute updates: The standard-setting function of the Institute, major standard-setting projects in progress and an overview of the Amendments to AG 5.
• Financial reporting considerations for closing out 2026: Amendments effective in 2026, recent IFRIC agenda decisions, application issues of HKFRSs, including findings from recent regulators' inspections, and financial reporting considerations arising from the current risk environment.
• Preparing for HKFRS 18: Practical insights into key changes, related IFRIC agenda decisions, implementation challenges and transition considerations.
• Sustainability reporting: Regulatory developments, emerging reporting expectations, practical implementation issues, the latest developments in sustainability reporting standards and the Institute's implementation support.

Reminder: Upcoming live webinars on financial reporting

Join our upcoming live webinars to stay updated on the latest developments in financial reporting standards and prepare for the 2026 year-end close.

• 19 November: HKFRS 13 Fair Value Measurement: What preparers and auditors need to get right
• 20 November: Understanding the Amendments to AG 5 and Their Practical Implications

IFRS 20 webcast: Total allowed compensation and differences in timing

This webcast explains how to determine total allowed compensation and identify differences in timing under IFRS 20 Regulatory Assets and Regulatory Liabilities. To explore those two aspects, it focuses on common types of compensation that regulatory agreements might include in regulated rates.

New episode of IFRS for SMEs Accounting Standard podcast: Episode 6

This podcast series aims to provide stakeholders with key updates on the third edition of the IFRS for SMEs Accounting Standard, share insights on these updates, and provide information on where to find related resources.

 

The final episode discusses the adoption of the Standard in Malaysia and the future of SME reporting. It also explores the IFRS Foundation resources available to support implementation of the Standard.

Reminder: Upcoming live webinars on auditing and industry developments

Join the upcoming live webinars on revised auditing standards and latest industry developments.

• 4 November: HKSA 570 (Revised 2024), Going Concern
• 13 November: Industry update relating to licensed corporations (Live webinar)
• 23 November: Industry update relating to investment funds (Live webinar)

IESBA on decoding ethics “An ethical hacker on deepfakes, cybersecurity & trust”

In this podcast, IESBA technical staff speaks with an ethical hacker about how deepfakes are changing fraud and cybersecurity risks for professional accountants, firms and businesses. The conversation explores how artificial intelligence (AI)-enabled deepfakes can be used in social engineering and fraud. It highlights the importance of robust verification, layered controls and effective AI governance in building organizational resilience and maintaining trust.

IESBA Ethics Matters

Access the IESBA's Ethics Matters to stay informed about its latest developments.

HKFRS S1 and S2 implementation platform

You are welcome to submit technical questions related to the implementation of HKFRS S1 and S2. Questions that meet the submission criteria will be considered for discussion at the upcoming meeting.

Announcements by HKEX

Members may wish to be aware of the following matter:

• HKEX Sets Roadmap for T+1 Transition in Securities Market

Announcements by SFC

Members may wish to be aware of the following matter:

• Circular to licensed corporations carrying out sponsor work and engaging in book building and placing activities

Institute’s Best Corporate Governance and ESG Awards 2026 Presentation Ceremony to take place on 6 November

The Institute’s Best Corporate Governance and ESG Awards for 2026, which last year celebrated their 25th anniversary, are reaching their final stages. The Awards Presentation Ceremony will be held on Friday, 6 November at the JW Marriott Hotel Hong Kong. Members interested in joining may complete the reservation form attached to the flyer and return it to nicolascheng@hkicpa.org.hk by 2 November. A results announcement press conference will be held ahead of the presentation ceremony.

Announcements by the Inland Revenue Department (IRD)

Members may wish to be aware of the following matters:

• IRD Circular Letter to Tax Representatives - Block Extension Scheme for Lodgement of 2025/26 Tax Returns (Extended Due Date for “M” Code Returns)
• Inland Revenue (Amendment) (Tax Deductions for Intellectual Property Expenditure) Bill 2026 gazetted and introduced into LegCo for First Reading and Second Reading
• Orders on Comprehensive Avoidance of Double Taxation Agreements with six countries to be gazetted
• Global minimum tax and Hong Kong minimum top-up tax for multinational enterprise groups - Launch of new functions for top-up tax return filing under the Pillar Two Portal
• Businessman given jail sentence and fined for tax evasion

Announcements by the government 

Members may wish to be aware of the following matters:

• Speech by SFST at Hong Kong Institute of Certified Public Accountants Annual Dinner
• HKMA designates Primary Liquidity Providers and expands scheme
• Digital Policy Office attaches great importance to latest cybersecurity vulnerability and appeals to all sectors to take early action and apply patches
• Senior judicial appointment: non-permanent judge from another common law jurisdiction of the Court of Final Appeal
• Reappointment of Non-Executive Directors to SFC announced

Anti-money laundering/ Counter-terrorist financing (AML/CFT) notices and news

Anti-money laundering and counter-terrorism financing webinar for accountants

 

The Institute and the Narcotics Division of the Security Bureau will hold two live webinars on 16 November (in Cantonese) and 25 November (in English), both from 2:30 p.m. to 4:00 p.m.

 

Enrolment is open for Institute members only, and seats will be allocated on a first-come, first-served basis.

 

Sanctions update

• The latest list of terrorists and terrorist associates designated by the United Nations Security Council, published pursuant to the United Nations (Anti-Terrorism Measures) Ordinance (Cap. 575) was gazetted on 27 October.

• The List of individuals, groups, undertakings and entities published under section 25 of the United Nations Sanctions (ISIL and AI-Qaida) Regulation (Cap. 537CB) was updated on 27 October. Please refer to the press releases on 26 October and 15 October for details.

• For the current lists of terrorists, terrorist associates and relevant persons/ entities under United Nations sanctions, members should regularly refer to the Institute's AML webpage. Other useful documents and guidance can also be found on the same page.

Other AML/CFT news

• Legislative Council Question 1: Improving online bank account opening

Publications from other organizations:

• What’s in Hong Kong’s Five-Year Plan for finance? from In The Black
• AI tools for finance professionals — Which one and when? Part 1 from Financial Management
• The future CFO needs to think like a CTO from CFO.com
• Stop rewriting the same AI prompt every day. Build a reusable assistant instead. from Entrepreneur

 

                                            

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