Hong Kong Capital Markets Update - Issue 3, August 2017

Hong Kong Capital Markets Update - Issue 3, August 2017

Summary of the Hong Kong Stock Exchange’s review of listed issuers’ financial reports, based on 'Financial Statements Review Programme Report 2016'


On 14 July 2017, the Hong Kong Stock Exchange (the “Exchange”) published its eighth report of the Financial Statements Review Programme (FSRP), under which the Exchange reviews published quarterly, interim and annual reports for compliance with the disclosure requirements of the Main Board Listing Rules (and the equivalent GEM Listing Rules), the accounting standards and the relevant disclosure requirements of the Companies Ordinance (Cap. 622). 

This report summarises key findings from the FSRP, where 100 periodic financial reports released by listed issuers between February 2016 and April 2017 are selected on a risk-based approach. For the industry review theme this year, the Exchange also discusses its findings from the annual reports of 19 selected issuers whose major or principal activities include retail and consumer goods businesses.

The Exchange encourages listed issuers to take note of the matters discussed in the report in order to ensure that their finance departments have the necessary resources and training to perform their financial reporting role.

This Hong Kong Capital Markets Update looks at the Exchange’s review of listed issuers’ financial reports, according to their report, Financial Statements Review Programme Report 2016. It includes the most commonly omitted or incomplete disclosures, disclosures for New Accounting Standards, and disclosures for asset impairment loss or reversal of impairment loss.

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