Standards

As explained in the Preface to Hong Kong Financial Reporting Standards, the term "Hong Kong Financial Reporting Standards" (HKFRS) includes all HKFRS, Hong Kong Accounting Standards (HKAS), Statements of Standard Accounting Practice (SSAP), and Interpretations issued by the Hong Kong Institute of Certified Public Accountants.

HKFRS set out recognition, measurement, presentation and disclosure requirements dealing with transactions and events that are important in general purpose financial statements. HKFRS are based on The Framework for the Preparation and Presentation of Financial Statements, which addresses the concepts underlying the information presented in general purpose financial statements.

The appropriate application of HKFRS, with additional disclosure when necessary, results, in virtually all circumstances, in financial statements that give a true and fair view.

The Institute issued the SME Financial Reporting Framework (SME-FRF) and Financial Reporting Standard (SME-FRS) which are standards of accounting practices for SMEs that qualify for reporting under the SME-FRF. For details, please click here.

The official full text of the Standards is available in Volume II of the Members' Handbook. To access the members' Handbook, please click here.

Staff Summary of Standards

To access the Standard Setting Department Staff Summary of Standards, please click here.