Mr. Garry Kwan, Managing Partner at CWK Global, was recently invited to attend a forum organized by the Society of Chinese Accountants & Auditors. Garry shared insights on the auditing requirements under the PN820 guidance for licensed corporations regulated by the Securities and Futures Commission (SFC). The forum was moderated by Mr. Xavier Chan, Founder and Chairman of CWK Global, who facilitated engaging discussions and fostered exchange among the participants.
PN820 serves as a guidance document developed by The Hong Kong Institute of Certified Public Accountants for auditors conducting audits of licensed corporations regulated by the SFC. It outlines the responsibilities auditors need to fulfill under the Securities and Futures Ordinance. The PN820 guidance is periodically updated, with the latest revision taking effect on 15 December 2022.
During the forum, Garry shared his experiences and provided valuable insights, emphasizing important considerations when adhering to the PN820 guidance. In-depth discussions were held among the participants on topics such as pre-audit planning, compliance with regulatory requirements, utilization of IT technology and auditing standards on reporting. The forum provided an interactive learning platform for participants to gain a better understanding of the requirements outlined in the PN820 guidance and to enhance their effectiveness in fulfilling their responsibilities as auditors.