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Financial Reporting under New HKCO: Controversial Issues

This seminar will be opened for enrolment on 16 October 2015 at 11:00am. The "Login to Enrol" button is NOT available before 16 October at 11:00am.

Event Details:

Speakers :

Mr Jimmy YIP, Director, Mazars CPA Limited

Mr Leo CHEUK, Senior Manager, Mazars CPA Limited

Date : 3 November 2015 (Tuesday)

Time : 7:00pm - 10:00pm (Registration starts at 6:30pm)

Venue : Meeting Room N101, 1/F., Hong Kong Convention and Exhibition Centre,1 Expo Drive, Wanchai, Hong Kong (Please click here to see the floor plan)

Language : Cantonese (no simultaneous translation)

CPD Credit : 3 hours

Fee : HK$200-

About the Seminar:

In August 2014, enquiries were made to the HK Companies Registry about two critical matters concerning how and whether, under the New HKCO’s provisions, a HK company having subsidiaries can fall within reporting exemption – the only gateway to HKFRS-SME. In September 2015, the HKCR published one of its surprising replies: to fall within reporting exemption on group basis, each company in the group must be a HK-company.

The enquiries also covered another matter in relation to whether a choice exists between company- and group-level financial statements, which was available under the predecessor HKCO. In June 2015, the HKCR issued FAQs which explain under what circumstance a holding company has a choice and, on the other hand, the HKICPA published Q&As which suggest that there is actually a way out to resolve the conflicts between HKFRSs and the New HKCO regarding the preparation of consolidated financial statements, albeit contentious.

In June 2015, the HKICPA issued Accounting Bulletin 6 which provides guidance on the requirements of the New HKCO concerning the issue or publication of non-statutory accounts. Contrary to all expectations, on top of the significant non-compliance costs, the scope of section 436 is so wide that non-listed companies could also be affected.

In this seminar, the speakers will discuss the provisions of the New HKCO in relation to:

- issue or publication of non-statutory accounts (section 436);

- criteria for exemption of consolidation; and

- criteria for falling within reporting exemption.

About the Speakers:

Mr Jimmy YIP

Mr Jimmy YIP is a practicing accountant and has over 15 years of experience in auditing. His audit clients include companies ranging from SMEs to listed companies. Apart from audit works, he is also engaged in special assignments including investigation and IPOs. In addition, Jimmy is the Head of Quality Assurance mainly responsible for quality control and training.


Mr Leo CHEUK was a part-time tutor of City University of Hong Kong before starting his career in Mazars CPA Limited and has over 9 years of experience in auditing. Besides, he provides training for Hong Kong office of Mazars.

CPD Hours:

Completed CPD hours will be granted to attendees who have attended a full session of seminar. For those who have not attended full session, the number of CPD hours will be discounted accordingly. For the exact recognition of the CPD hours, please check with the respective Institute or Association.

Bad Weather Arrangement:

This event may be cancelled or re-scheduled when typhoon no.8 or black rainstorm warning is hoisted. Please refer to our website for the arrangement.


Accounting Development Foundation Limited (ADF)

CPD Requirements: Our seminars can fulfil CPD requirements. As professional bodies would not formally endorse the seminars we provide, it does not mean that the events we organize do not meet the CPD purpose. Registrants should note that you are responsible for determining whether our seminars or any event satisfy your CPD requirements i.e. that the training you receive are of appropriate standard and relevance to your maintaining and enhancing the technical knowledge and professional expertise. If necessary, please check with your respective professional body before registering our seminars. ADF does not warrant that the attendance of our seminars or events would automatically be recognized by the respective professional bodies as fulfilling your CPD requirements.


- This seminar will be opened for enrolment on 16 October 2015 at 11:00am. The "Login to Enrol" button is NOT available before 16 October at 11:00am.

- Only ADF Friends and online enrolment will be accepted. Please make sure that you have registered as an ADF Friend and have your ADF Friend account activated before enrolment.

- You may also click here to read the enrolment procedures.

- Acceptance will be on a first-come-first-served basis.

- ONLY Online Payment is accepted now.

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