Hong Kong Audit Quality Improves with Focus on Emerging Industries

According to Foresight News, the Hong Kong Accounting and Financial Reporting Council has released its 2024-25 Inspection and Investigation Reports. The reports indicate an improvement in audit quality, with the proportion of projects rated as good or requiring limited improvement rising from 26% last year to 35%. The council announced that in 2025, it will prioritize inspections of emerging industry projects, with a particular focus on the audit risk management capabilities of virtual asset trading companies.