Mar 2010 - HKFRS for Private Entities Technical Bulletin

HKFRS for Private Entities the new accounting Standard, that is likely to affect the future of HK GAAP.

HKFRS for Private Entities: Your questions answered

On 20 January 2010, the Hong Kong Institute of Certified Public Accountants issued a Statement of Intent about issuing a new Hong Kong Financial Reporting Standard (“HKFRS”) for Private Entities as a reporting option for private entities on 30 April 2010 to be effective immediately upon release, subject only to unforeseen commentary received before 31 March 2010. As the new HKFRS is forthcoming, the first step is to understand the background and reasons behind its purpose. As such Mazars have provided you with the answers to what we believe are the key questions surrounding the new HKFRS.

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