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Our latest Navigator summarizes four IFRS Interpretations Committee (IFRIC) agenda decisions related to IFRS 18 Presentation and Disclosure in Financial Statements, explaining which entities may be affected, the IFRIC’s conclusions and key practical considerations. It also highlights tentative agenda decisions to monitor as implementation continues.
Previous issues of the HKFRS 18 Navigator and other implementation resources are available on the Institute’s dedicated HKFRS 18 Resource Centre.
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Institute’s live webinar on HKFRS 18 go-live countdown: From Theory to Practice
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With HKFRS 18 becoming effective for annual reporting periods beginning on or after 1 January 2027, entities are entering the final stage of implementation. Join our webinar on 10 December to explore real-life application scenarios, significant judgement areas, and practical solutions to common challenges. The speaker will also cover relevant IFRIC agenda decisions and Amendments to the Fair Value Option for Investments in Associates and Joint Ventures.
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Reminder: Upcoming live webinars and virtual conference on financial reporting
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Join our upcoming events 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
- 21 November: Annual accounting and sustainability update 2026: What matters now, what comes next
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IASB October 2026 Update and podcast
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The IASB Update summarizes the preliminary decisions from its October meeting, while the accompanying podcast highlights discussions on the Amortised Cost Measurement project, IFRS for SMEs Accounting Standard and an update on the IASB’s work plan.
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IFRS Interpretations Committee agenda decision
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HKICPA video on the IAASB’s Audit Evidence and Risk Response proposals
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The HKICPA has released a video highlighting the key proposals in the IAASB’s revisions to ISA 330, ISA 500 and ISA 520, covering audit evidence, risk response, substantive procedures, tests of controls, analytical procedures and technology. You are encouraged to watch the video and share your views on the proposals through the HKICPA survey by 15 November.
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Reminder: Institute’s live webinar on industry update relating to investment funds
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Join this webinar on 23 November for an update on key developments relating to investment funds. The webinar will cover the SFC’s latest developments on tokenization of SFC-authorized investment products, the MPFA’s Phase 1 implementation of MPF Full Portability, and proposed enhancements to the tax concession regimes for funds, family-owned investment holding vehicles and carried interest.
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AFRC Audit Focus for 2026 year-end audits
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The Accounting and Financial Reporting Council (AFRC) has released Audit Focus for 2026 year-end audits. The publication identifies priorities for AFRC's 2027–28 inspections, covering both engagement-level and firm-level priorities. It aims to provide firms and auditors with clearer visibility into areas of heightened audit quality risk and encourage timely attention to these areas in the 2026 year-end audits.
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IESBA publication on firm culture and governance
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The IESBA has published Leaders on Firm Culture and Governance, bringing together interviews with five global leaders on the importance of culture and governance in accounting firms and the wider financial ecosystem. The publication highlights how trust in financial markets depends not only on rules, but also on the culture, incentives and governance that shape behaviours within organizations.
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ISSB October 2026 podcast and update
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In this podcast, the ISSB Chair and Vice-Chair highlight the ISSB's proposals for nature-related disclosure and discuss enhancements to the SASB Standards and clarify their relationship with the ISSB Standards. In addition, a summary of the October 2026 meeting is now available.
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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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Members may wish to be aware of the following matters:
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Best Corporate Governance and ESG Awards 2026
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The Institute’s Best Corporate Governance and ESG Awards 2026 (Awards) came to a successful conclusion, with the presentation luncheon ceremony held at the JW Marriott Hotel on 6 November 2026, in a celebratory and enjoyable atmosphere. The Guest of Honour was Dr David Sun, Chairman of the Accounting and Financial Reporting Council. This year, awards were given to 35 listed companies and public sector organizations in all, including eight first-time award winners, one of which was in the newly-listed-companies category. As part of the continuing development of the Awards processes, artificial intelligence (AI) was more extensively applied in 2026, covering not only the initial screening stage, but also part of the in-depth review stage. Please refer to the Institute's press release for more details. See also the Judges’ Report. This contains the full list of award winners, observations on what was done well and where further improvements could be made in terms of corporate governance and environmental, social and governance practices in Hong Kong, as well as messages from some of the first-time awardees and explanations of new features in the 2026 Awards.
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Announcements by the Inland Revenue Department
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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/ Counter-terrorist financing (AML/CFT) notices and news
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25 November - Anti-money laundering and counter-terrorism financing webinar for accountants
The Institute and the Narcotics Division of the Security Bureau will hold the live webinar on 25 November (in English) from 2:30 p.m. to 4:00 p.m. Enrolment is open to Institute members only, with seats allocated on a first-come, first-served basis.
FATF publication on high-risk and other monitored jurisdictions
On 30 October, the Financial Action Task Force (FATF) published a statement on high-risk jurisdictions subject to a call for action. The statement calls on its members and all jurisdictions to apply specific measures and actions against Iran, the Democratic People's Republic of Korea and Myanmar.
The FATF also issued a notice on jurisdictions under increased monitoring. This notice identifies other jurisdictions with strategic deficiencies in their AML/ counter-terrorist regimes and working with the FATF to address them. The FATF generally calls for a risk-based approach, rather than enhanced due diligence for these jurisdictions. The full list of such jurisdictions and their current status can be found in the FATF notice.
Sanctions update
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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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