22 May 2020

Dear members,

Updates on two Anti-epidemic Fund measures for practising accountants

The government¡¦s Anti-epidemic Fund measures are now proceeding to be implemented. This email covers two programmes where practising accountants have a role to play.

D-Biz Programme

The Distance Business (D-Biz) Programme is a HK$500 million scheme to support enterprises continuing their business and services through the adoption of IT solutions. Applicants are eligible to apply for HK$100,000 each for up to three projects (total funding of up to HK$300,000), and projects must be completed within six months.

Recipients of grants are required to submit an audited statement of expenditure for D-Biz Programme projects. The Hong Kong Productivity Council, as the secretariat of the programme, has prepared guidance for auditors undertaking an engagement and preparing the accompanying auditors¡¦ reports. This guidance describes the engagement as a reasonable assurance engagement.

Catering subsidy scheme

The Catering Business (Social Distancing) Subsidy Scheme offers subsidies for eligible food business licence holders, based on premises size.

The Institute¡¦s previously-issued Circular on Reporting under the Catering Business (Social Distancing) Subsidy Scheme has been updated after review of the scheme by the Auditing and Assurance Standards Committee, which confirmed that this would represent an agreed-upon procedures engagement. The Food and Environmental Hygiene Department has also indicated that for the purposes of completing the certificate, an assurance engagement is not required.

 

For more information about the Anti-epidemic Fund schemes, visit the Institute¡¦s dedicated Government relief measures: Useful information for accountants webpage, under the COVID-19 ¡V CPA Information Centre.

Warm regards,
Hong Kong Institute of Certified Public Accountants

 

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