Securities & Futures Commission of Hong Kong

Accounts and Audit Rules

Q1:

Can a licensed corporation or an associated entity, which is a holding company, submit only consolidated financial statements of the licensed corporation or the associated entity and its subsidiaries for the purposes of section 3(1)(a) or 3(3)(a) of the Securities and Futures (Accounts and Audit) Rules (“Accounts and Audit Rules”)?

A:

It is expected that a licensed corporation or an associated entity submits a set of accounts consisting of a profit and loss account, a balance sheet, and notes to the accounts of such licensed corporation or associated entity under section 3(1)(a) or 3(3)(a) of the Accounts and Audit Rules.  Furthermore, an auditor’s report, which contains the auditor’s opinion on such balance sheet and profit and loss account of the licensed corporation or the associated entity, is required to be submitted in accordance with sections 4(1)(b) and 4(1)(c) of the Accounts and Audit Rules.

Section reference: 3(1)(a), 3(3)(a), 4(1)(b) & 4(1)(c)

3.6718 s