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Financial reporting in Hong Kong

The adoption of a number of new and revised financial reporting standards (HKFRS) which are almost equivalent to International Financial Reporting Standards (IFRS) with effect from 1 January 2005 has changed the current practice of financial reporting in Hong Kong. In December 2004, the HKICPA completed the process of converging Hong Kong Accounting Standards (HKAS) with the equivalent International Accounting Standards (IAS).

We issue accounting news update and a series of Deloitte publications to deal with the application of the HKFRS and IFRS including:

More Publications

  • Hong Kong Financial Reporting Standards — Illustrative Annual Financial Statements 2012
    These financial statements illustrate the presentation and disclosure requirements of HKFRSs for the year ended 31 December 2012 issued by a Hong Kong listed company.
  • New IFRS elearning modules
    Deloitte’s Global Audit Learning group has released two new e-learning modules on derecognition under IFRS 9 'Financial Instruments' and offsetting under IFRS 32 'Financial Instruments: Presentation'.
  • iGAAP 2013 - A guide to IFRS reporting
    The report sets out comprehensive guidance by focusing on the practical issues faced by reporting entities. Learn more.
  • IFRSs in your Pocket 2012
    This guide provides an update of developments in IFRSs through the second quarter of 2012.
  • HKFRS for Private Entities in your pocket
    This pocket guide explains the requirements in Hong Kong's new HKFRS for Private Entities and made available for immediate use by private companies
  • IFRS in Focus Newsletter
    We publish IFRS in Focus newsletters at the time of release of new and revised Standards and Interpretations, Exposure Drafts and discussion documents, including summaries of the documents and consideration of the principal amendments/proposals. Prior to June 2010, the newsletter was called IAS Plus Update.
  • Proposals for limited amendments to the equity method
  • IASB proposes clarification of acceptable methods of depreciation and amortisation
  • IASB issues exposure draft on Annual Improvements to IFRSs: 2011-2013 Cycle
  • Critical issues in uncertain times

Certain recent IFRS in Focus newsletters have been translated into Chinese, learn more.

Featured content

  • CASPlus.com
    A resource for China accounting standards
  • IFRIC Review newsletter
    To examine matters discussed at the IASB's IFRS Interpretations Committee
  • IFRS on Point newsletter
    Highlight of the month's critical financial reporting developments

More Learn more

  • IFRS Model financial statements 2012
    These financial statements illustrate the presentation and disclosure requirements of IFRSs for the year ended 31 December 2012 by an entity that is not a first-time adopter of IFRSs.
  • iGAAP 2012 A guide to IFRS reporting
    The guide provides insight into how complex practical issues should be resolved and illustrative examples to demostrate how the standards work in practice.
  • Hong Kong Financial Reporting Standards — Illustrative Financial Statements 2011
    This publication contains a set of illustrative annual financial statements for the year ended 31 December 2011 of an hypothetical entity with its shares listed on The Stock Exchange of Hong Kong Limited that are prepared in accordance with HKFRSs
  • IFRS Model financial statements for 2011
    These model financial statements illustrate the application of the presentation and disclosure requirements of International Financial Reporting Standards (IFRSs) for the year ended 31 December 2011 by an entity that is not a first-time adopter of IFRSs.
  • IFRSs in your Pocket 2011
    This guide includes summaries of each IASB Standard and Interpretation as well as the Framework and the Preface to IFRSs and the use of IFRSs around the world.
© 2013 Deloitte Touche Tohmatsu in Hong Kong, Deloitte Touche Tohmatsu in Macau, and Deloitte Touche Tohmatsu Certified Public Accountants LLP in the Chinese Mainland. All rights reserved.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/cn/en/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
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