The Hong Kong Institute of Certified Public Accountants (HKICPA) has issued Exposure Draft (ED) on HKSA for LCE and is seeking comments on the proposed standard. The ED on HKSA for LCE includes only Part A, Authority of the proposed HKSA for LCE concerning the scope of the proposed standard in a local context with proposed modifications as follows:

1. Refining the classes of entities prohibited from using the proposed HKSA for LCE to entities having public interest characteristics within a Hong Kong context.
2. Establishing quantitative thresholds to determine the appropriate use of the proposed HKSA for LCE within a Hong Kong context.

The Seminar and Members’ Forum divide into two parts:

1. A quick revisit on International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (“ISA for LCE”) which was issued in December 2023.
2. Briefing on the ED on HKSA for LCE and gathering comments from members regarding the questions as set out in the ED and any additional comments.

SCAA will submit a written response to the HKICPA regarding the feedback received from our members on the Exposure Draft.

A fee of HK$50 will be applied for members who wish to obtain a CPD certificate. 學員如欲申請CPD 證書，需繳付港幣50元作發放CPD證書行政費之用。