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Handbook Update No. 337 contains revisions to the Institute’s Code of Ethics for Professional Accountants, and COE Chapter A, Ethics Standards for Sustainability Assurance and Other Revisions to the Code Relating to Sustainability Assurance and Reporting to align with the 2025 Handbook of International Code of Ethics for Professional Accountants (including International Independence Standards) issued by the International Ethics Standards Board for Accountants.
Handbook Update No. 338 relates to the issuance of Narrow Scope Amendments to the HKSQMs, HKSAs and HKSRE 2400 (Revised) as a Result of the Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code.
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Accounting guidance on virtual assets
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The Institute has issued guidance on which HKFRS Accounting Standards apply to cryptocurrencies and stablecoins. This publication underscores our commitment to supporting you as you navigate the rapidly evolving digital asset landscape.
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List of new and amended HKFRS
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The Institute has published the list of amended Hong Kong Financial Reporting Standards (HKFRS) that are applicable to December 2025 year-end.
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E-learnings: archived webinars for financial reporting
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The Institute hosted a series of live webinars in the last quarter, covering a range of hot topics in financial reporting. These sessions have been archived for members’ access. Enrol now if you missed any of these webinars.
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IFRS Interpretations Committee podcast discusses IFRS 18
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In this podcast, the IFRS Interpretations Committee’s Chair Bruce Mackenzie and member Sophie Massol highlight the tentative agenda decisions discussed during the Committee's November meeting, including:
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- four IFRS 18-related tentative agenda decisions; and
- updates to ten agenda decisions to reflect new or amended requirements in IFRS 18.
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IFRS for SMEs Accounting Standard December 2025 Update
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The IFRS for SMEs Accounting Standard December Update is now available. The Update highlights the resources to support implementation of the third edition of the IFRS for SMEs Accounting Standard, which include an overview of the revised Section 19 Business Combinations and Goodwill of the standard, updated educational modules, webcasts and podcast series.
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Checkpoint - Information Produced by the Entity for Use as Audit Evidence
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The Accounting and Financial Reporting Council (AFRC) has released Checkpoint - Information Produced by the Entity for Use as Audit Evidence. It provides an overview of the types of information produced by the entity (IPE) commonly encountered in audits, highlights key considerations for auditors when using IPEs, and provides guidance on how to evaluate the reliability of IPEs before using them as audit evidence.
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Q&A related to PN 810.2 (Revised), The Duties of the Auditor of an Insurer authorized under the Insurance Ordinance
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The Insurance Authority prepared a Q&A on the specific requirements regarding how the “Specified Annual Forms” should be attached to the independent auditor’s assurance report under Rule 5 of the Insurance (Submission of Statements, Reports and Information) Rules.
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ICAEW audit and assurance resources
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The Institute of Chartered Accountants in England and Wales (ICAEW) has the following resources that may be of interest to members:
If you are interested in accessing the ICAEW online audit and assurance resources, please click here to subscribe by 16 January 2026. Enrolment is on a first-come, first-served basis, with limited spots available. Please note that your name and email address will be shared with the ICAEW for communication purposes.
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Stay informed about auditing accounting estimates, the latest industry updates and auditor reporting requirements by joining our e-learning sessions:
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HKICPA Ethics Video: Auditor Independence
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Access the Institute’s latest video for an overview of auditor’s independence principles and real-life cases for practical takeaways on auditor independence.
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The highlights and decisions from the IESBA meeting held in December are now available.
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Consultation Paper on the Proposed Regulatory Framework for Sustainability Assurance in Hong Kong
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The AFRC published a consultation paper on the proposed regulatory framework for sustainability assurance in Hong Kong, inviting all stakeholders to provide feedback on the proposals by 30 March 2026.
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The ISSB Story: bringing the global baseline to life
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This video looks at how the ISSB has progressed since its founding and reflects on the lessons learned along the way.
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E-learnings: HKFRS S1 and S2: Turning Standards into Action
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The free webinars on HKFRS Sustainability Disclosure Standards Guidance have been archived for members’ access. These webinars are available in English or Cantonese with English terminology. Enrol now if you missed any of these sessions.
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HKFRS S1 and S2 implementation platform
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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.
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SFC issued the No.75 Takeover Bulletin
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On 31 December 2025, the Securities and Future Commission (SFC) issued a Takeover Bulletin to provide a quarterly update on the activities of Takeovers Team and amendments on Practice Note 9 to summarize the practice regarding securities held by connected exempt principal traders as simple custodians for non-discretionary clients.
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The SFC seek comments to further legislation to regulate virtual asset advisory service providers and management service providers
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On 24 December 2025, the Securities and Future Commission (SFC) issued a Public Consultation Paper to seek views or ideas on its further legislative proposal to regulate virtual asset advisory and management service providers. The deadline for submissions to the SFC is 23 January 2026.
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FSTB and SFC publish consultation conclusions on legislative proposals for regulating virtual asset dealing and custodian services
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Tender Notices from the ORO
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The Official Receiver's Office (ORO) has awarded contracts for the following tenders:
- Tender for taking up of Appointment as Provisional Trustees under section 12(1A) of the Bankruptcy Ordinance (Chapter 6 of the Laws of Hong Kong) (Tender Ref.: OR/C/2025)
- Tender for providing services to complete Preliminary Examination in Bankruptcy Cases (Tender Ref.: OR/B/2025)
The notices of award of contract are accessible at the ORO’s webpage.
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Announcements by the Inland Revenue Department (IRD) and other Tax-related News
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Members may wish to be aware of the following matters:
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Announcements by the government
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Members may wish to be aware of the following matters:
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Anti-money laundering (AML) notices and news
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Latest update about the STREAMS of the JFIU
In response to the recent surge in the number of Suspicious Transaction Reports (STRs) and to make use of advance technology for more effective reception, processing, and analysis of financial intelligence, the Joint Financial Intelligent Unit (JFIU) has upgraded its Suspicious Transaction Report and Management System (STREAMS) to STREAMS 2, set to launch on 2 February.
Upon the launch of STREAMS 2, regulated entities will no longer be able to submit STRs via email, fax, or post. All STRs must be submitted electronically through STREAMS 2. Three submission options will be available:
- Submit STR via XML Submission (e-cert is required);
- Upload a completed STR in proscribed PDF format in STREAMS 2 (e-cert is required); and
- Complete the STR web-form directly in STREAMS 2 (e-cert is not required).
Account Creation
Regulated entities who wish to submit STR in STREAMS 2 requires a STREAMS 2 account. To apply for the STREAMS 2 account before the launch of STREAMS 2, please fill in the application form and excel sheet and revert to JFIU (ssgt-jfiu-sd-sup-fiib@police.gov.hk).
There is no limitation on the number of accounts, but regulated entities are advised to register an appropriate number of users, based on the current number of users in their institutions in STREAMS.
Other Matter of Interest
JFIU is now preparing the training material and the administrative arrangement for the transition from STREAMS to STREAMS 2. Further information will be disseminated in due course.
Should you have further enquiries, please contact LAM Chun-kit, Wing, Station Sergeant of Police of JFIU (for account creation matter) or STREAMS 2 hotline at 3669 6160 (for other enquiries).
AML notices
- For the current lists of terrorists, terrorist associates and relevant persons/ entities under United Nations sanctions, members should refer regularly to the Institute's AML webpage. Other useful documents and guidance can also be found on the same page.
Other AML news
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Publications from other organizations:
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Disclaimer: Some sections contain external links and information from outside sources. We endeavour to link to reputable sources but the Institute is not responsible for the accuracy or content of the external site, and the content does not necessarily represent the views of the Institute. We recommend using your discretion when visiting these links.
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Copyright © 2026 Hong Kong Institute of CPAs. All rights reserved.
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