eqc.advisory, Author at EQC Compliance Advisory

Unearthing the Hidden Dangers: Missing Audit Procedures and the Path to Enhanced Audit Quality

Discover the path to enhanced audit quality in this insightful article, offering practical advice and key takeaways for CPA auditors and Hong Kong audit firm owners. Learn how to ensure thorough risk identification, document internal controls effectively, maintain a well-organized audit trail, and showcase professional judgment. With real-world examples and actionable tips, this article equips you with the knowledge to modify your daily work, elevate your practice, and deliver exceptional service to your clients. Banish the ghost of missing audit procedures and embrace a new era of audit excellence today.

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Navigating the Labyrinth: Advances to Directors, Assessing Legality, and Ensuring Compliance

Discover the keys to navigating the labyrinth of advances to directors, assessing legality, and ensuring compliance in this insightful article tailored for CPA auditors and Hong Kong audit firm owners. Learn practical strategies to identify and document red flags, leverage automation in audit assessments, conduct mock reviews for proactive issue resolution, and equip your team with the knowledge and skills needed through training. Unlock the secrets to creating a robust compliance framework and lead your team with confidence and expertise in the rapidly evolving regulatory landscape.

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Ensuring Compliance with Code of Ethics: The Art of Addressing Inadequate Audit Team Independence Assessment

Blog Post, Industry News and Expert Tips / eqc.advisory

Discover practical insights on addressing inadequate audit team independence assessment and ensuring compliance with Code of Ethics 290.06 in our comprehensive article. Learn how to document potential conflicts of interest, record the impact of non-audit services, evaluate relationships with management, and review independence policies. With realistic examples and hypothetical situations, we provide valuable guidance for Hong Kong CPA auditors and firm owners to navigate the complexities of independence assessment, ultimately upholding the integrity of the profession and maintaining public trust.

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Navigating Acceptance and Continuance Issues in Ensuring Ethical Compliance

Blog Post, Industry News and Expert Tips / eqc.advisory

In this article, we unravel the challenges faced by CPA auditors in maintaining ethical compliance while fostering strong client relationships. Delve into practical insights on addressing acceptance and continuance issues, with a focus on client integrity assessments, engagement risk factors, and accounting treatment disagreements. Learn from real-world examples like Enron and discover how our specialized services, such as Mock AML Reviews and Audit Program 3.0, can bolster your ethical standards. Equip yourself with the knowledge to safeguard your reputation, uphold the auditing profession’s integrity, and instill trust in clients and the public.

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FY2023 Practice Protection Plans

Blog Post, Industry News and Expert Tips / eqc.advisory

We have introduced three new practice protections plans (Plans A to C) with discounts ranging from 30% to 50% off during the promotional period up to 28 February, 2023. What is different in our latest practice protection plans? Choose Between Practice-Wide Controls vs. Audit Engagement Quality CPA Practices may now choose between consultancy on improving the

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3 CPA and 2 Audit Employees held for accused bribes

Uncategorized / eqc.advisory

Breaking News: FRC is stepping up compliance on Auditors. A joint operation “Sniper” of the Financial Reporting Council (FRC) and the Independent Commission Against Corruption (ICAC) in which 3 Certified Public Accountants and 2 audit employees are held for accepting bribes for issuance of false report. The FRC claimed in its press release that the

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Are you Ready for FRC Inspection?

Uncategorized / eqc.advisory

The FRC is rapidly introducing reforms directly affecting the accounting profession. Is your Practice ready to adapt to the new regulatory environment?

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October 2021 passed FRC (Amendment) Bill 2021

Uncategorized / eqc.advisory

The Financial Reporting Council (Amendment) Bill 2021 was passed by the Legislative Council. The Secretary for Financial Services and the Treasury, Mr Christopher Hui, welcome the passing of the bill, which he said would enhance the regulatory regime of the accounting profession in Hong Kong. The amended Ordinance enables the Financial Reporting Council (FRC) to

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