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MEMBERS' HANDBOOK
CONTENTS OF VOLUME III
(Updated to July 2023)

Section 1: Pronouncements currently effective (Note: To apply appropriate

pronouncements in accordance with the respective effective dates as indicated)

Issue/Review
date

Preface Preface to the Hong Kong Quality Control, Auditing, Review, Other
Assurance, and Related Services Pronouncements ................................. 02/23

Preface Preface to the Hong Kong Quality Management, Auditing, Review, Other
(Revised 2023) Assurance, and Related Services Pronouncements ................................. 02/23

Glossary Glossary of Terms Relating to Hong Kong Standards on Quality Control,

Auditing, Review, Other Assurance and Related Services ........................ 03/23

Glossary Glossary of Terms Relating to Hong Kong Standards on Quality

(Revised 2023) Management, Auditing, Review, Other Assurance and Related Services .. 03/23

HONG KONG STANDARDS ON QUALITY MANAGEMENT

HKSQM 1 Quality Management for Firms that Perform Audits or Reviews of Financial
Statements, or Other Assurance or Related Services Engagements ........ 07/23

HKSQM 2 Engagement Quality Reviews .................................................................. 12/21

HONG KONG STANDARDS ON QUALITY CONTROL

HKSQC 1 Quality Control for Firms that Perform Audits and Reviews of Financial
Statements, and Other Assurance and Related Services Engagements ... 12/21

HONG KONG FRAMEWORK FOR ASSURANCE ENGAGEMENTS

Framework Hong Kong Framework for Assurance Engagements ............................... 12/21

Framework Hong Kong Framework for Assurance Engagements ............................... 05/22

(Revised 2022)

HONG KONG STANDARDS ON AUDITING

HKSA 200 – 299 GENERAL PRINCIPLES AND RESPONSIBILITIES

HKSA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit
in Accordance with Hong Kong Standards on Auditing ............................. 03/23

HKSA 200 Overall Objectives of the Independent Auditor and the Conduct of an
(Revised 2023) Audit in Accordance with Hong Kong Standards on Auditing .................... 03/23

HKSA 210 Agreeing the Terms of Audit Engagements ............................................. 03/23

HKSA 210 Agreeing the Terms of Audit Engagements ............................................. 03/23

(Revised 2023)

HKSA 220 Quality Control for an Audit of Financial Statements ................................. 03/23

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HKSA 220 (Revised) Quality Management for an Audit of Financial Statements ......................... 03/23

HKSA 230 Audit Documentation ................................................................................ 05/22

HKSA 230 Audit Documentation ................................................................................ 05/22

(Revised 2022)

HKSA 240 The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial

Statements……………………………………………………… 07/23

HKSA 250 Consideration of Laws and Regulations in an Audit of Financial Statements 03/23
(Revised)

HKSA 250 Consideration of Laws and Regulations in an Audit of Financial Statements 03/23
(Revised 2023)

HKSA 260 Communication with Those Charged with Governance.............................. 05/22

(Revised)

HKSA 260 Communication with Those Charged with Governance.............................. 05/22

(Revised 2022)

HKSA 265 Communicating Deficiencies in Internal Control to Those Charged with

Governance and Management .................................................................. 03/23

HKSA 300 – 499 RISK ASSESSMENT AND RESPONSE TO ASSESSED RISKS

HKSA 300 Planning an Audit of Financial Statements ................................................ 03/23

HKSA 300 Planning an Audit of Financial Statements ................................................ 03/23

(Revised 2023)

HKSA 315 Identifying and Assessing the Risks of Material Misstatement ……… 03/23
(Revised 2019)

HKSA 315 (Revised Identifying and Assessing the Risks of Material Misstatement…………….. 03/23
2019) (2023)

HKSA 320 Materiality in Planning and Performing an Audit ........................................ 03/23

HKSA 330 The Auditor’s Responses to Assessed Risks ............................................. 03/23

HKSA 402 Audit Considerations Relating to an Entity Using a Service Organization ... 03/23

HKSA 450 Evaluation of Misstatements Identified during the Audit ............................. 12/21

HKSA 500 – 599 AUDIT EVIDENCE

HKSA 500 Audit Evidence.......................................................................................... 03/23

HKSA 500 Audit Evidence.......................................................................................... 03/23

(Revised 2023)

HKSA 501 Audit Evidence - Specific Considerations for Selected Items ..................... 03/23

HKSA 505 External Confirmations.............................................................................. 03/23

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HKSA 510 Initial Audit Engagements – Opening Balances ......................................... 03/23

HKSA 520 Analytical Procedures ............................................................................... 03/23

HKSA 530 Audit Sampling ......................................................................................... 05/22

HKSA 540 (Revised) Auditing Accounting Estimates and Related Disclosures ........................... 03/23

HKSA 540 Auditing Accounting Estimates and Related Disclosures ........................... 03/23
(Revised 2023)

HKSA 550 Related Parties ......................................................................................... 03/23

HKSA 560 Subsequent Events................................................................................... 06/17

HKSA 570 (Revised) Going Concern ......................................................................................... 03/23

HKSA 580 Written Representations............................................................................ 12/21

HKSA 600 – 699 USING THE WORK OF OTHERS

HKSA 600 Special Considerations—Audits of Group Financial Statements

(Including the Work of Component Auditors) ............................................ 03/23

HKSA 600 Special Considerations—Audits of Group Financial Statements

(Revised 2023) (Including the Work of Component Auditors) ............................................ 03/23

HKSA 610 Using the Work of Internal Auditors ........................................................... 03/23

(Revised 2013)

HKSA 610 (Revised Using the Work of Internal Auditors ........................................................... 03/23
2013) (2023)

HKSA 620 Using the Work of an Auditor’s Expert ....................................................... 05/22

HKSA 620 Using the Work of an Auditor’s Expert ....................................................... 05/22

(Revised 2022)

HKSA 700 – 799 AUDIT CONCLUSIONS AND REPORTING

HKSA 700 Forming an Opinion and Reporting on Financial Statements ..................... 07/23
(Revised)

HKSA 700 Forming an Opinion and Reporting on Financial Statements ..................... 07/23
(Revised 2023)

HKSA 701 Communicating Key Audit Matters in the Independent Auditor’s Report ..... 03/23

HKSA 701 Communicating Key Audit Matters in the Independent Auditor’s Report ..... 03/23
(Revised 2023)

HKSA 705 (Revised) Modifications to the Opinion in the Independent Auditor’s Report ............ 03/23

HKSA 706 (Revised) Emphasis of Matter Paragraphs and Other Matter Paragraphs in the
Independent Auditor’s Report .................................................................... 12/21

HKSA 710 Comparative Information—Corresponding Figures and Comparative

Financial Statements ................................................................................ 03/23

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HKSA 720 (Revised) The Auditor’s Responsibilities Relating to Other Information..................... 03/23

HKSA 720 The Auditor’s Responsibilities Relating to Other Information..................... 07/23

(Revised 2023)

HKAS 800 – 899 SPECIALIZED AREAS

HKSA 800 (Revised) Special Considerations – Audits of Financial Statements Prepared in

Accordance with Special Purpose Frameworks ........................................ 03/23

HKSA 805 (Revised) Special Considerations – Audits of Single Financial Statements and
Specific Elements, Accounts or Items of a Financial Statement ................ 12/21

HKSA 805 Special Considerations – Audits of Single Financial Statements and

(Revised 2022) Specific Elements, Accounts or Items of a Financial Statement ................ 05/22

HKSA 810 (Revised) Engagements to Report on Summary Financial Statements ..................... 03/23

HONG KONG STANDARDS ON REVIEW ENGAGEMENTS

HKSRE 2400 Engagements to Review Historical Financial Statements ......................... 12/21

(Revised)

HKSRE 2400 Engagements to Review Historical Financial Statements ......................... 05/22

(Revised 2022)

HKSRE 2410 Review of Interim Financial Information Performed by the Independent

Auditor of the Entity ................................................................................. 12/21

HONG KONG STANDARDS ON ASSURANCE ENGAGEMENTS

HKSAE 3000 Assurance Engagements Other than Audits or Reviews of Historical

(Revised) Financial Information ............................................................................... 05/22

HKSAE 3402 Assurance Reports on Controls at a Service Organization........................ 03/23

HKSAE 3410 Assurance Engagements on Greenhouse Gas Statements ..................... 03/23

HKSAE 3420 Assurance Engagements to Report on the Compilation of Pro Forma 05/22
Financial Information Included in a Prospectus ........................................

HONG KONG STANDARDS ON INVESTMENT CIRCULAR

REPORTING ENGAGEMENTS

HKSIR 200 Accountants’ Reports on Historical Financial Information in Investment

Circulars .................................................................................................. 05/22

HKSIR 400 (Revised) Comfort Letters and Due Diligence Meetings ........................................... 05/22

HKSIR 500 Reporting on Profit Forecasts, Statements of Sufficiency of Working

Capital and Statements of Indebtedness ................................................. 05/22

HONG KONG STANDARDS ON RELATED SERVICES

HKSRS 4400 Agreed-Upon Procedures Engagements……………………………….. ...... 03/23

(Revised)

HKSRS 4410 Compilation Engagements ....................................................................... 03/23

(Revised)

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PRACTICE NOTES

PN 600.1 (Revised) Reports by the Auditor under the Companies Ordinance (Cap. 622) ......... 12/21

PN 600.1 Reports by the Auditor under the Companies Ordinance (Cap. 622) ......... 05/22
(Revised 2022)

PN 620.2 (Revised) Communication between the Auditor and the Insurance Authority ............ 05/22

PN 720 Acting as Scrutineer at a General Meeting of a Listed Issuer .................... 02/23

PN 730 (Revised) Guidance for Auditors Regarding Preliminary Announcements of Annual

Results .................................................................................................... 03/23

PN 740 (Revised) Auditor’s Letter on Continuing Connected Transactions under the Hong 05/22
Kong Listing Rules ...................................................................................

PN 750 Review of Financial Information under the Hong Kong Listing Rules for a
Very Substantial Disposal ………………………………………..… 05/22

PN 750 Review of Financial Information under the Hong Kong Listing Rules for a
(Revised 2022) Very Substantial Disposal ........................................................................ 05/22

PN 810.1 (Revised) Licensed Insurance Broker Companies - Compliance with the Insurance
(Financial and Other Requirements for Licensed Insurance Broker
Companies) Rules ................................................................................... 05/22

PN 810.2 (Revised) The Duties of the Auditor of an Insurer authorized under the Insurance
Ordinance ............................................................................................... 02/23

PN 820 (Revised) The Audit of Licensed Corporations and Associated Entities of

Intermediaries.......................................................................................... 05/22

PN 830 (Revised) Reports by the Auditor Under the Banking Ordinance .............................. 05/22

PN 840 (Revised) Reporting on Solicitors’ Accounts under the Solicitors’ Accounts Rules and
the Accountant’s Report Rules ................................................................. 02/23

PN 850 (Revised) Reporting on Flag Days, General Charitable Fund-raising Activities and
Solicitation of Signed Authorisation Forms Covered by Public Subscription
Permits issued by the Social Welfare Department .................................... 05/22

PN 851 (Revised) Reporting on the Annual Financial Reports of Non-governmental

Organisations ......................................................................................... 09/22

PN 852 Review of Lottery Accounts...................................................................... 09/15

PN 860.1 (Revised) The Audit of Retirement Schemes ........................................................... 02/23

PN 870 The Assessments of Certification Authorities under the Electronic

Transactions Ordinance ........................................................................... 02/23

PN 871 Engagement to Report on Compliance with the Billing and Metering

Integrity Scheme of OFTA........................................................................ 09/04

PN 900 (Revised) Audit of Financial Statements Prepared in Accordance with the Small and
Medium-sized Entity Financial Reporting Standard................................... 07/23

PN 900 Audit of Financial Statements Prepared in Accordance with the Small and
(Revised 2023) Medium-sized Entity Financial Reporting Standard................................... 07/23

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HONG KONG AUDITING PRACTICE GUIDANCE

HKAPG 1000 Special Considerations in Auditing Financial Instruments .......................... 03/23

HKAPG 1000 Special Considerations in Auditing Financial Instruments .......................... 03/23

(Revised)

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Section 2: Pronouncements issued but not yet effective

Issue/Review
date
HONG KONG STANDARDS ON AUDITING

HKSA 600 – 699 USING THE WORK OF OTHERS

HKSA 600 (Revised) Special Considerations—Audits of Group Financial Statements (Including

the Work of Component Auditors) and Conforming and Consequential
Amendments to Other Hong Kong Standards Arising from HKSA 600
(Revised)................................................................................................. 03/23

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