4. Training (Online / Customized)
Our training services are oriented around the AFRC Inspection. We regularly issue cost-effective training sessions that are pre-recorded and uploaded online. These sessions may entail recent regulatory updates and inspection practices adopted by the AFRC. We track attendance online and would issue attendance certificates upon completion. While there may be no Q&A and personalized content in these training sessions, however, they provide valuable insights, tips and guidance for practising accountants to gain a detailed understanding on the latest practices in preparing and responding to AFRC inspections.
We also provide customized training sessions that are arranged either at your office, or at training centers in prime commercial districts in Hong Kong. While these peronalized training sessions may also include content covered in our online sessions, they can be customized to specific topics that may not regularly be found in the market. These are useful in tailoring your audit and compliance training to topics that are relevant and useful to your practice. Sometimes a customized training program is precisely what your practice needs to rectify and remediate AFRC inspection findings, especially on systemic issues that are commonly found across the practice unit’s controls and policies, and across multiple audit engagements.
Find us now at Tel: 9543-3218 for more detailed information of our services.
Online Training on 2023-24 AFRC Inspection Process and Findings
AFRC has recently issued its 2023 Annual Inspection Report. We have prepared an online training session that covers all common inspection findings and provides compliance guidance on what deficiencies to prevent and guidance on completing the AFRC forms. Let EQC Compliance Advisory help you stay ahead of compliance trends today!
Register now for the Webinar by completing the form at the bottom of this page. For all registered users, the Webinar will be made available through a password-protected access at our website, and will be accessible anytime over a 1-month period, which can begin anytime you wish.
Training Included in Packages
In-Person Group Training (4 Recurring Sessions Per Year)
We understand that sole proprietors in Hong Kong, especially those operating on a part-time basis with no employees, face distinct challenges when it comes to improving audit quality and complying with AFRC regulations. Limited resources, time constraints, and the added burden of heightened regulatory scrutiny can make it difficult for these practitioners to keep up. That’s why EQC has developed a new inspection preparation package tailored specifically for sole proprietors (Nov 2024).
– In-Person Small-Group Training (4 Recurring Sessions Per Year): You’ll receive hands-on training, conducted quarterly, where you can ask questions and learn directly from EQC experts. The Group size ranges from 5 to 30 practice units, and are attended by the Managing Practitioners, or the practising accountants responsible for your practice’s audit quality. Sessions will allow time for Q&A, and similar-sized practices are grouped together. These sessions will cover crucial topics included as follows:
– Implementation of your customized SQM Manual
– Implementation of your customized AML Manual (which can also serve as your compulsory AML training)
– Guidance on responding to AFRC inspection requests
– Deep dives into common audit areas, such as:
– Auditing the valuation of receivables
– Impairment risk of assets
– Going concern considerations
– Revenue recognition
– Management override of controls
Each group training session provides 8 CPD hours, and full attendance is required to receive your CPD certificate. This is a convenient way to satisfy your CPD requirements while preparing for inspections.
There are in-person training programs held regularly throughout the year, and are only available to those practice units, which have engaged us on one of our many inspection packages.
Learn more about our inspection packages now.