AP4.1 Disclaimer of Liability and Losses

1. Purpose and Scope of AP4.1

The deliverables generated by Audit Program 4.1 (“AP4.1”) are designed to assist CPA Practice Units in rendering audit or subcontracted audit services. AP4.1 and its outputs are tools to support professional work; they do not replace the CPA Practice Unit’s responsibility to exercise professional judgment, due diligence, direction, supervision, review, and quality-control procedures appropriate to each engagement.

2. User Responsibility

It is the responsibility of CPA Practice Units using AP4.1 to ensure that their audit services, working papers, reports, and use of Program deliverables comply with the applicable regulations, ordinances, professional auditing standards, financial-reporting frameworks, and requirements relevant to the jurisdiction and engagement.

Users must review and assess the relevance, accuracy, completeness, and appropriateness of any information, template, calculation, output, or deliverable used in an audit process. Users remain responsible for the data they input, the evidence obtained, the audit judgments reached, and the conclusions reported.

3. No Assurance or Guarantee

Although EQC Advisory Limited makes efforts to maintain AP4.1 and its deliverables, EQC does not represent or warrant that AP4.1, its templates, calculations, outputs, or deliverables will be error-free, complete, uninterrupted, suitable for every engagement, or accepted by a regulator, client, or other third party.

The appropriate use of AP4.1 depends on the facts and circumstances of each engagement, including applicable law, professional standards, accounting frameworks, audit evidence, risk assessment, and professional judgment. EQC does not provide a guarantee of any audit, regulatory, commercial, or inspection outcome through AP4.1.

4. Limitation of Responsibility

To the fullest extent permitted by applicable law, EQC does not accept responsibility or liability for errors, omissions, inaccuracies, non-compliance, loss, or damage arising from use of, reliance on, or application of AP4.1 or its outputs. The ultimate responsibility for compliance with applicable legal, regulatory, and professional requirements remains with the user.

Without limiting the preceding paragraph, the user should confirm that any data, assumptions, judgments, documentation, and deliverables used in its professional work are appropriate to the relevant engagement. No provision of this Disclaimer is intended to exclude or limit liability that cannot lawfully be excluded or limited.

5. Data, Systems, and Third-Party Arrangements

The user is responsible for its own local systems, access controls, backups, network environment, data accuracy, and security arrangements. Where AP4.1 interacts with a user environment, third-party service, or externally sourced information, the user should assess the suitability, availability, and terms applicable to that environment or service.

Nothing in this Disclaimer alters any separately agreed written data-processing, support, security, subscription, or service commitment. Any such commitment must be set out in the relevant written agreement and should be read with this Disclaimer.

6. Terms, Updates, and Contact

This Disclaimer forms part of the terms governing AP4.1. EQC may update it from time to time and will make the current version available on its website. The “Last Updated” date identifies the version currently published. Continued use of AP4.1 after an update takes effect is subject to the updated terms to the extent permitted by applicable law.

Publication note: This is an AP4.1 technology-disclaimer draft. EQC should confirm commercial terms, actual service and support commitments, data and system arrangements, and any intended liability allocation, and obtain qualified Hong Kong legal review before publication.