Hong Kong Standards on Auditing (HKSAs)
Hong Kong Standards on Auditing (HKSAs) are a set of auditing standards issued by HKICPA, to regulate auditors in Hong Kong in discharging their duties while performing the audit on a set of financial statements. They align with ISA to ensure consistency and quality in audits. HKSAs cover essential areas such as planning, risk assessment, evidence collection, analytical procedures, and reporting. By complying these standards, auditors enhance the reliability of financial statements and uphold stakeholder confidence in the integrity of financial reporting. Accountants (HKICPA). These standards outline the principles and guidelines for financial reporting by entities in Hong Kong.
Hong Kong Standard on Auditing for Audits of Financial Statements of Less Complex Entities (HKSA for LCE)
Hong Kong Standard on Auditing for Audits of Financial Statements of Less Complex Entities (HKSA for LCE) are newly issued auditing standards designed for less complex entities. Issued by the HKICPA, these standards have simplified audit procedures while maintaining quality and reliability. HKSA for LCE focuses on practical and proportionate approaches, enabling auditors to efficiently address the unique needs of smaller entities, thereby ensuring effective financial reporting and enhancing stakeholder trust.