Entire Section

  • Accounting Standards

    • 4.11

      The financial history of results and the statement of financial position included in the accountants' report must normally be drawn up in conformity with:—

      (a) Hong Kong Financial Reporting Standards (HKFRS); or
      (b) International Financial Reporting Standards (IFRS); or
      (c) China Accounting Standards for Business Enterprises (CASBE) in the case of a PRC issuer that has adopted CASBE for the preparation of its annual financial statements.

      Note: The issuer must apply one of these bodies of standards consistently and shall not change from one body of standards to the other.

    • 4.12

      Any significant departure from such accounting standards must be disclosed and explained and, to the extent practicable, the financial effects of such departure quantified.

    • 4.13

      The relevant standards will normally be those current in relation to the last financial year reported on and, wherever possible, appropriate adjustments must be made to show profits for all periods in accordance with such standards.