|
Accountancy in Hong Kong is regulated by the HKICPA under the Professional Accountants Ordinance (Chapter 50, Laws of Hong Kong). The auditing industry for limited companies is regulated under the Companies Ordinance (Chapter 32, Laws of Hong Kong), and other Ordinances such as the Securities and Futures Ordinance, the Listing Rules, etc. == Accounting standards == The regulating of accountancy, auditing, membership, professional, licensing all falls under the HKICPA. However, in many cases, the HKICPA themselves are helpless in concluding what constitutes properly prepared financial statements. There were some attempts in obtaining external professional legal opinions on behalf of its members (e.g. what constitutes "true and fair") but they are non-binding in court. The ultimate True and Fair / True and Correct of a set of published financial statement falls under the Court system in Hong Kong, which relies on the generally accepted practice in Hong Kong. This is consistent with other common law practices. In 2005, the HKICPA adopted almost all the most current accounting and auditing standards from the IFAC and its associated standard setting bodies with the additions of a few local written interpretations of these principal based accounting and auditing standards. Local written interpretations try to cater to the unique situations in Hong Kong such as the problem of the remaining land lease. Prior to the formation of HKICPA in 1972 (or formerly known as HKSA before 2004 September), the auditing industry was loosely regulated. Organizations including The Society of Chinese Accountants and Auditors ("SCAACPA") has helped in standardising recognised auditors for financial statements. There were also few serious accounting and auditing standards prior to 1986. Before 1972, auditing standards were often upheld by the individual integrity of these professional auditors. Accounting standards were based on the few international firms in the then colony including Lowe, Bingham and Matthews, KPMG, Sanford Yung, etc. 1972 was seen as a turning point for the accountancy profession in Hong Kong. Most international accounting firms (the forebearers of the Big Four accounting firms today) established their presence in Hong Kong within a few years before or after the establishment of HKICPA. In 1974, the British-based accountancy body with a global presence - Association of Chartered Certified Accountants (ACCA) assisted with setting up the Hong Kong Institute of Certified Public Accountants (formerly named "Hong Kong Society of Accountants") as the local statutory accountancy body in Hong Kong. HKSA looked upon the exams from 2 accountancy bodies - the aforementioned ACCA from UK and the ASCPA from Australia. At that time university education in the Colony was less common than nowadays. Both accountancy bodies did not require university degree and so HKSA deemed these as suitable for the Hong Kong admission standards. Around 1985, the HKICPA adopted most of their auditing and accounting standards from ICAEW. Around 1990, the former HKSA (HKICPA), named Association of International Accountants (AIA) for full exemption. Around 1994, the HKICPA slowly adopted their auditing and accounting standards from the IFAC and its associated standard setting bodies. Full integration was achieved by the HKICPA within 10 years, i.e. in 2005. Senior accountants in Hong Kong may consider this a period of re-learning, adoption of frameworks and principle based standards and a more stringent in governance and regulation of the accounting profession. British qualified accountants and accountants from British Commonwealth have played an important role in HK accountancy profession. 抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)』 ■ウィキペディアで「Accountancy in Hong Kong」の詳細全文を読む スポンサード リンク
|