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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:


  • 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.
  • 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.

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

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    A resource for China accounting standards
  • IFRIC Review newsletter
    To examine matters discussed at the IASB's IFRS Interpretations Committee

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  • 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.
  • 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.
  • IFRIC 12 Service concession arrangements - A pocket practical guide
    Serve as an illustrative tool for the reader in the application of IFRIC 12
  • IFRS for Investment Funds
    Deloitte's Global Financial Services Industry (GFSI) network has released two publications on IFRSs for Investment Funds
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