Event Registration Form for
Audit Program 4.0 and AFRC Inspection Findings
Please fill out the information below to ensure a pleasant event experience. You may choose any of the listed dates to attend the event.
Please review the information you have provided to ensure successful registration. Please ensure you enter your CPA Practice Name and Contact Details for us to contact you with event venue addresses and details.
Please click “Register Now” when complete, and we will get in touch with you as soon as possible.
Thank you for your interest, and we look forward to seeing you at the event!
Free Drinks will be Served.
Game Changing Updates (Mar 2025)
Game Changing Updates Part 1 /4 (10 Mins)
Game Changing Updates Part 2 /4 (20 Mins)
Game Changing Events Part 3 / 4 (12 Mins)
Game Changing Events Part 4 / 4 (15 mins)
Key Strengths of AP4.0
- Auto-Generation of completed Audit Program (HKICPA-APM)
- AML Name Screening as low as HK$1,000 / year regardless of number of clients
- Auto-Generation of B/S & P/L Line-by-Line Y-o-Y analytical review
- Auto-Completion of Tests of Details and Sample Selection planning, with 2,000+ Tests of Details templates covering 100+ financial statement line items and SME-FRS, PE and HKFRS, and all relevant assertions of assets, liabilities, income, expense and equity
- Generation of Technical Memorandum on Sales and Cost of Sales for 218 principal activities, and 186 types of key accounting estimates for various scenarios, e.g. provision / impairment made, no provision / no impairment made, and with or without management expert, etc.
- Auto-Selection of Debtors and Creditors for circularization, completion of Jssp and Lssp and generation of confirmations
- Multi-Audit Engagement Generation in one click of a button, achieving technological multi-tasking
Download AP4.0 Deck
Unlock the Future of Audit Efficiency with Audit Program 4.0
We are thrilled to introduce Audit Program 4.0 (AP4.0), a game-changing upgrade to our previous Audit Program 3.0, designed to revolutionize audit workflows for CPA firms. Developed by auditing professionals combining insights from regulatory inspections conducted by the AFRC, alongside cutting-edge technologies like Python, VBA, and AI-powered Large Language Models (LLMs), AP4.0 is the most advanced audit automation solution available worldwide.
Why Choose Audit Program 4.0?
AP4.0 builds on the solid foundation of AP3.0 but introduces groundbreaking new functionalities that address the real challenges CPA firms face today, including cost pressures, talent shortages, and increasing compliance demands.
1. Significant Cost Reduction:
– AP4.0 generates completed audit working papers directly from financial data, drastically cutting manpower requirements.
– Even CPA firms with hundreds of audit clients can now operate with just one qualified practising accountant and a small support team to import data, allowing the accountant to focus entirely on review.
2. New Functionalities in AP4.0:
– AML Name Sanction Screening: Seamlessly screens clients for compliance with anti-money laundering regulations.
– Sample Selection Sheets and Audit Tests of Details: Automatically generates sample selections and step-by-step audit procedures.
– Auto-Selection of Samples for Audit Confirmation and Tests of Details: Minimizes manual work by identifying samples directly from imported trial balances.
– Line-by-Line Analytical Reviews: Uses logic, programming, and generative AI to conduct year-over-year fluctuation analyses of financial statement line items.
3. Regulatory Compliance Across the Audit Cycle:
– From client acceptance (KYC) to audit planning and completion, AP4.0 generates working papers that comply with the latest regulatory standards.
4. Innovative Technology with Global Reach:
– AP4.0 is the first and only solution in the world that can generate completed, compliant audit working papers in one iteration for multiple engagements.
– Simultaneous launches in 9 countries, including the UK, Ireland, Australia, New Zealand, India, Malaysia, Singapore, UAE, and Hong Kong, ensure global standards are met.
Addressing Hong Kong’s CPA Talent Shortage
With the ongoing talent shortage in Hong Kong’s CPA industry, AP4.0 provides a timely and effective solution. By automating the most time-consuming aspects of the audit process, AP4.0 allows firms to maintain high-quality output with significantly fewer resources, all while ensuring compliance with regulatory requirements.
Exclusive Benefits of Early Subscription
To maximize value for our subscribers, we have aligned all AP4.0 audit program credits to expire on June 30, 2026, regardless of the subscription date. The earlier you subscribe, the longer the validity period of your credits will be. Don’t miss this opportunity to secure a competitive edge in the market while optimizing your firm’s efficiency.
Discover the Power of AP4.0 Today
We invite you to experience the future of audit with a live demonstration of AP4.0 or by attending one of our demo events scheduled from January to March 2025 (details attached). Witness firsthand how AP4.0 will transform your audit practice, streamline operations, and position your firm as an industry leader in innovation.
This is a once-in-a-generation innovation that will change the world of auditing. Be among the first to adopt this revolutionary technology and join elite firms already embracing the future of audit.
Four More Reasons to Use AP4.0
i. Resolves the Most Common Practice Review Findings
In the past months, EQC has been constantly improving our documentation in addressing common practice review findings, and we can confidently confirm that our Audit Program 4.0 can effectively address TEN of the most prevalent audit deficiencies that are commonly found in audit programs across the entire SMP industry.
-
- Lack of evaluation of the internal controls on the allocation of the contract costs to different projects and service contracts / on key business processes.
-
- Lack of risk assessment on the assertion level.
-
- Lack of fraud risk considerations and inadequate procedures on management override of controls.
-
- Lack of evidence of ongoing name screening for AML purpose.
-
- Lack of considerations of assertion and financial statement level risks in determining sample sizes for extent of substantive tests of details.
-
- Lack of arithmetical calculations and risk-based approach in determining extent of test of details.
-
- Lack of audit documentation on the substantive tests of details performed.
-
- Lack of documentation on the use of a proper audit opinion.
-
- Absence of documentation on analytical reviews.
-
- Post-Modification of working papers.
ii. Fastest Completion of Audit Work Papers in the Market
Working papers can be generated for multiple engagements in a matter of minutes. Imagine how many audit engagements you can complete with 1 staff in one week!
iii. Save 99.9999% of your Time Costs
Through our determination on digital transformation, we have been able to lower the cost to levels significantly below the equivalent time-cost of a typical audit junior.
The cost it takes to complete an audit file with an audit fee of HK$20,000 may involve a junior, a senior providing coaching, and a partner / manager reviewing the workpapers with back and forth revision. When using AP4.0, it only takes an administrative clerk 2 hours to complete the entire work papers and approximately 2 Audit Program credits. That is a cost of as low as under HK$800. Now calculate your operating profit margin.
iv. Technology Helps to Eliminate Human Errors
Human mistakes arising from carelessness is always inevitable. If you have previously purchased / encountered working paper templates available in the market, you would realize that it would almost be an impossible feat to digest the 1000-page long audit practice manual to ensure that the documented procedures have indeed been carried out in your working paper files.
Any inconsistencies between your firm’s audit practice manual and the archived working papers would be undisputable indicator of weakness in the firm’s engagement performance procedures.