AFRC
20/11/2025
AFRC REPRIMANDS PIE AUDITOR WITH FINES
The AFRC has sanctioned MnO CPA Limited and its partners for multiple deficiencies in the auditor’s work on the valuation of technology assets and the testing of goodwill impairment…
HKICPA
19/11/2025
HKICPA HANDBOOK UPDATE 335
A revision of Statement 1.500 Continuing Professional Development requires that all members need 2 ethics hours yearly; PC holders/RPs need 5 accounting/auditing hours; 30 structured hours every 3 years. …
AFRC
7/11/2025
GLOBAL DEVELOPMENTS IN THE AUDIT REGULATION
The study confirms that the AFRC’s regulatory framework is firmly aligned with international practices…
IRD
6/11/2025
CERTIFICATE OF RESIDENT STATUS
From 10/11/2025 onward, the competent authority of the HKSAR will issue a digital Certificate of Resident Status…
HKICPA
28/10/2025
HKICPA HANDBOOK UPDATE 334
The revised HKSA 240 clarifies the auditor’s responsibilities, emphasizes fraud risk assessment and the responses to identified risks, and enhances transparency in the auditor’s reports…
HKICPA
27/10/2025
HKICPA HANDBOOK UPDATE 333
This amendment relates to HKFRS 19 Subsidiaries without Public Accountability: Disclosures that reduce the disclosure requirements of eligible subsidiaries for certain HKFRSs…
CR
24/10/2025
COMPANY LAW REFORM ANNUAL REPORT
The Standing Committee on Company Law Reform published its 2024-25 Annual Report (39th Report)…
IRD
22/10/2025
GLOBAL MINIMUM TAX UPDATE
The webpage on global minimum tax and Hong Kong minimum top-up tax for MNE groups provides more examples on eTax filing...
AFRC
16/10/2025
AFRC REPRIMANDS A BIG-4 FIRM
PWC and its partners were reprimands for deficiencies on audit work related to revenue recognition…
HKICPA
3/10/2025
HKICPA HANDBOOK UPDATE 332
Chapter A of COE is revised for ethics standards for sustainability Assurance and using the work of external expert…
IRD
3/10/2025
INTEREST RATE FOR TAX RESERVE CERTIFICATES ADJUSTED
The new annual rate of interest payable on Tax Reserve Certificates will be 0.2583 per cent .…
IRD
25/9/2025
MULTINATIONAL ENTERPRISE GROUPS UPDATE
IRD has added two sub-divisions in the webpage of MNE group, namely “Pillar Two Portal and Registration of In-Scope MNE Groups via Application for Group Codes…
AFRC
11/9/2025
PRISM HONG KONG CONDUCTED PIE AUIDT WITHOUT REGISTRATION
AFRC fined Prism Hong Kong and two others for conducting various PIE engagements in 2023 without the required registrations totaling HK$353,500…
AFRC
11/9/2025
DELOITTE WERE FINED OVER HK$1.9 MILLION
Deloitte and its two partners were reprimanded and fined for the audit of two former listed companies namely Tianhe Group and Sound Global Group…
AFRC
21/8/2025
BDO LIMITED AND TWO OTHERS WERE REPRIMANDED
The AFRC Sanctioned the BDO and its partners for multiple breaches of auditing standards in relation to Vestate Group 2018 audit…
AFRC
20/8/2025
2024-25 OVERSIGHT OF HKICPA’S SPECIFIED FUNCTIONS
The AFRC appreciates that the HKICPA has addressed the majority of its earlier recommendations, with only one item still in progress…
IRD
19/8/2025
LIST OF QUALIFYING DEBT INSTRUMENTS UPDATED
IRD has launched the list of updated qualifying debt instruments up to 30 June 2025…
AFRC
31/7/2025
HEALTHY PRACTICES IN AUDITOR APPOINTMENTS AND AUDIT FEE SETTING
The AFRC releases an article highlighting the progress in the reduction of late auditor resignations and fee-related matters…
AFRC
29/07/2025
ANNUAL INSPECTION REPORT AND ANNUAL INVESTIGATION AND COMPLIANCE REPORT
Annual reports show audit quality is improving, with firms committed to enhancement but recurring deficiencies highlight the need for further progress.…
IRD
24/07/2025
FAQ FOR FOREIGN-SOURCED INCOME EXEMPTION
IRD launches more FAQ for FSIE regime, covering income, taxpayers, illustrative examples, etc…
HKICPA
23/07/2025
HKICPA HANDBOOK UPDATE 331
HKICPA launches HKSA 570 (Revised 2024) which has strengthened consistency, transparency, and reporting on going concern matters…
IRD
22/07/2025
THREE NEW TAX PORTALS
Three new tax portals under E-Tax, namely the Individual Tax Portal (ITP), Business Tax Portal (BTP), and Tax Representative Portal (TRP) enhance the efficiency and user experience of electronic tax services…
IRD
27/06/2025
INTERACTIVE DASHBOARD
An interactive dashboard with the aim of presenting tax data through interactive charts, graphs, and tables…
IRD
27/06/2025
PATENT BOX REGIME
Illustrative examples in Chinese have been uploaded to the department’s website…
AFRD
27/06/2025
AFRC REPRIMANDS A CPA FOR MISCONDUCT
The AFRC sanctioned CPA Wu Kam Shing for insider dealing and ethics breaches, imposing a HK$200,000 fine and reprimand…
IRD
28/05/2025
IR (AMENDMENT) (MINIMUM TAX FOR MNE GROUPS)
The Legislative Council passed the Inland Revenue (Amendment) (Minimum Tax for Multinational Enterprise Groups) Bill 2024…
HKICPA
28/05/2025
HKICPA HANDBOOK UPDATE 330
HKICPA has superseded the revised HKFRS for Private Entities Accounting Standard previously issued in April 2025…
CR
23/05/2025
COMPANY RE-DOMICILIATION REGIME
HKCO (Cap. 622) has introduced a new company re-domiciliation regime to facilitate non-Hong Kong corporations to re-domicile to Hong Kong…
CR
23/05/2025
UPDATES ON REQUIREMENTS RELATING TO NON-HK COMPANY
Cap 622J and 622M of HKCO are amended to include a new definition of the place of incorporation, new filing obligation, new display and disclosure requirements, and so on…
AFRC
22/05/2025
SUSPENSION OF A CPA PRACTICE BY AFRC
AFRC has suspended Mr Chiang Sham Lam Anthony (Chiang) and Anthony S. L. Chiang & Co. for three years and imposed pecuniary penalties totalling HK$500k…
AFRC
09/05/2025
ICAC CHARGED TWO CPA
ICAC charged two CPAs and others for fraud by submitting a misleading report to HKEX for a Macao firm's listing…
AFRC
01/05/2025
TARIFF DISRUPTIONS
AFRC reminded auditors to review risks and compliance concerning the US-initiated tariff war…
HKICPA
30/04/2025
HKICPA HANDBOOK UPDATE 329
HKSA for LCE issued by HKICPA is tailored to meet the specific audit needs of smaller and less complex businesses and organizations…
HKICPA
29/4/2025
HKICPA HANDBOOK UPDATE 328
HKICPA issued revised HKFRS for Private Entities Accounting Standard that is equivalent to the third edition of IFRS for SMEs Accounting Standard…
HKICPA
15/4/2025
HKICPA HANDBOOK UPDATE 327
This Update relates to the amendments to HKFRS 19 Subsidiaries without Public Accountability: Disclosures regarding the eligibility criteria for applying the standard and the corresponding disclosure requirements.…
IRD
19/3/2025
CIRCULAR LETTER TO TAX REP.
IRD will launch three portals; Individual Tax Portal, Business Tax Portal and Tax Representative Portal, in July 2025 to facilitate e-filing, block extension service and other electronic services.…
HKICPA
18/3/2025
HKICPA HANDBOOK UPDATE 326
1. Revision of the terms resulting from the HKICPA’s handbook Update 325 in audit announcements 2. Mandatory disclosure of the auditor’s name and PC number on auditor’s report
HKICPA
18/3/2025
HKICPA HANDBOOK UPDATE 325
Hong Kong Financial Reporting Standards and Hong Kong Financial Reporting Standard for Private Entities have been renamed to HKFRS Accounting Standards and HKFRS for Private Entities Accounting Standard respectively.…
HKICPA
10/3/2025
HKICPA HANDBOOK UPDATE 324
HKSSA 5000, General Requirement for Sustainability Assurance Engagements, is an overarching standard that includes requirements and application material for all elements of a sustainability assurance engagement.…
IRD
5/3/2025
COUPLE GIVEN JAIL FOR TAX EVASION
The couple wilfully with intent omitting or understating rental income in tax returns for six years of assessment…
IFAC
4/3/2025
JOINT STATEMENT FROM ACCOUNTANCY EUROPE AND IFAC
This joint statement identified four potential workstreams including ethical technological transformation, the profession’s future, and so on…
CR
3/3/2025
REVISED AML/CFT GUIDELINE
CR has revised Guideline on AML/CFT applicable to Licensed Money Lenders became effective on 3 March 2025…
HKICPA
28/2/2025
HKICPA HANDBOOK UPDATE 323
PN 860.1 (Revised) is updated for the implementation of eMPF and relevant guidelines…
IASB
27/2/2025
THIRD EDITION OF IFRS FOR SME
Major changes include fully aligning with IFRS 15, IFRS 13, 2018 Conceptual Framework, and so on…
IRD
26/2/2025
2025-26 BUDGET - TAX MEASURES
In his 2025-26 Budget, the Financial Secretary proposed reducing certain taxes for the Y/A 2024/25 and raising stamp duty of $100…
HKICPA
25/2/2025
HKICPA HANDBOOK UPDATE 322
HKFRS 9 and HKFRS 7 are amended for Contracts Referencing Nature-dependent Electricity…
CR
21/2/2025
PROMOTING PAPERLESS CORPORATE COMMUNICATION FOR HK COMPANIES
HKCO has been amended by introducing an implied consent mechanism…
CR
21/2/2025
TReasury share regime
HKCO introduces a new treasury share regime for listed companies, enabling listed companies to hold shares bought back and dispose of them as treasury shares…
IRD
17/2/2025
SUSPENSION OF ETAX FILING OF PROFITS TAX RETURN
To launch the new version of electronic filing of Profits Tax return services on 1 April 2025, IRD will temporarily suspend the eTax filing of profits tax return…
IRD
3/2/2025
SUSPENSION OF SERVICES FOR FILING OF TAX RETURN - INDIVIDUALS THROUGH ETAX
The internet filing service for Tax Return - Individuals will be temporarily suspended from 30 March 2025…
AFRC
27/1/2025
SUSTAINABILITY ASSURANCE PRACTICES
AFRC study advocates for Improved Sustainability Assurance Practices and urges auditors to incorporate climate risks in financial audits…
AFRC
17/1/2025
ADHERENCE TO REGISTRATION REQUIREMENTS FOR CARRYING OUT PIE ENGAGEMENTS
AFRC reminds PIE auditors to comply with the registration requirements for conducting PIE engagements
HKICPA
15/1/2025
HKICPA HANDBOOK UPDATE 321
PN 820 (Revised) is updated for reporting in relation to the new public fund depositaries regime…
IRD
7/1/2025
COURT DISMISSES APPEAL AGAINST TAX EVASION CONVICTION
High Court dismissed an appeal lodged by an insurance agent against a tax evasion conviction…
CR
3/1/2025
EXPANSION OF THE SCOPE OF E-FILING
New documents that can be delivered through e-Services portal…
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Tako Professional Technical Limited is an innovative and forward-looking local IT company specialised in the development and marketing of SSEP Auditing System, a comprehensive auditing system tailored for local CPAs, and related products and services incorporated in 2017.
Our development team consists of certified public accountants, IT experts, and experienced auditors, so that our products, services and advices are so practical and considerable to the needs of our target customers.
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