Hong Kong12 entries from 8 of our maps, in one place. Open a map to see Hong Kong beside the rest of the world.
Global regulatory & profession weekly updates.
Hong Kong’s Accounting and Financial Reporting Council and Securities and Futures Commission signed a new MoU extending cooperation to financial reporting by licensed firms and funds. The move strengthens coordination between audit/reporting oversight and securities regulation.
Hong Kong’s AFRC reprimanded Gary Cheng CPA Limited and two practising directors and imposed fines totalling HK$1.155 million for independence breaches and audit deficiencies. The action reinforces AFRC’s focus on auditor independence and engagement quality.
AFRC banned Gary K. K. Leung & Co. and its proprietor from audit and assurance engagements for licensed corporations for 12 months and imposed HK$210,000 in fines. The sanctions arose from serious professional-standard breaches in a securities brokerage assurance engagement.
Hong Kong’s AFRC reprimanded HLB Hodgson Impey Cheng Limited and two directors for multiple audit deficiencies and imposed fines totalling HK$910,000. The enforcement action forms part of the regulator’s continuing push to improve audit quality.
Hong Kong’s AFRC launched a new ‘Navigating IT in Audit’ series, beginning with the importance of general IT controls in audit. The initiative reflects regulators’ growing focus on technology risks and the auditor’s response to increasingly digital financial systems.
Public audit-oversight bodies (POBs) and IFIAR membership by country
PAO: — · ~1800 registered audit firms · ~5000 registered auditors · AFRC replaced PCAOB HK from 2022; independent statutory body. Hong Kong Institute of CPAs (HKICPA) is the PAO for non-PIEs
Sustainability-reporting standards adopted by country (ESRS, ISSB, GRI, TCFD)
All HKEX-listed issuers; roadmap to all publicly accountable entities by 2028 · FY starting 1 Jan 2025 (HKEX listed) · HKFRS S1 & S2 came into effect Q3 2025; climate-first phasing
Accountancy bodies (PAOs) and their IFAC membership, by country
IFAC member · Confederation of Asian and Pacific Accountants (CAPA) · Founded 1973
Members: 47,724 · Market penetration: 0.6363
Where company financial statements are filed and published, by country
All incorporated companies (Ltd, public/private); listed also via HKEX · Annual returns filed with Companies Registry; HKEX (https://www.hkexnews.hk/) for listed company full accounts
Gross annual pay of accountants and external auditors, in US dollars (2026)
Modelled values use global occupational multipliers; use as directional estimates.
Gross pay in nominal US dollars (2026), not adjusted for living costs.
National & global awards for the best annual reports and corporate reporting
Hong Kong Management Association (HKMA) · Annual report; ESG reporting categories · Hong Kong listed and other organisations submitting annual reports; includes ESG-related awards
GDP per capita (current US$), 2025 — World Bank Open Data
GDP per capita (current US$), 2025 · High income · over $14,005
No live listings in Hong Kong right now.
Not on these maps yet: Country Challenges, Accounting History.
