【锋行链盟】港股IPO审计师服务职责及核心要点

Core Viewpoint - The role of auditors in Hong Kong IPOs is crucial for ensuring the authenticity, accuracy, and completeness of financial information, complying with regulatory requirements from HKEX and SFC, and providing reliable financial data to investors [1]. Group 1: Core Responsibilities of Auditors in Hong Kong IPOs - Auditors are involved throughout the entire IPO process, with key responsibilities including statutory financial statement audits, internal control verification, assistance with information disclosure and regulatory communication, and other specialized services as needed [3]. Group 2: Key Points of Hong Kong IPO Audits - Auditors must focus on historical financial data audits, specifically the "three years and one period" financial statements required for the prospectus, and issue an unqualified audit report or other appropriate opinions [3]. - Compliance with accounting standards is essential, ensuring financial statements adhere to HKFRS, IFRS, or CAS, and that all significant accounting policies and estimates are disclosed [3]. - Key areas of verification include revenue recognition, cost allocation, asset impairment, financial instrument measurement, related party transactions, and tax compliance [3]. - Auditors must verify the effectiveness of internal controls over financial reporting (ICFR) and issue an internal control verification report based on relevant guidelines [3]. - Legal and regulatory compliance checks are necessary, including industry-specific regulations, tax compliance, and foreign exchange management for cross-border operations [3]. - Asset ownership verification is critical, confirming the ownership or usage rights of major assets and identifying any encumbrances [3]. - Auditors should identify contingent liabilities and commitments that could significantly impact financial statements, such as pending litigation and major contract breaches [3]. - Participation in the preparation of the financial section of the prospectus is required to ensure consistency between financial data and audit reports [3]. - Auditors must provide professional opinions during inquiries from HKEX and SFC regarding financial issues and assist in revising financial statements if necessary [3]. - The reasonableness of assumptions in profit forecasts or valuation models should be reviewed, although this is not guaranteed [3]. - Assistance with financial integration during mergers and acquisitions, including reverse takeovers and spin-offs, is part of the auditor's role [3]. - Evaluation of the financial impact of VIE structures, including compliance with accounting treatment and fund flow, is necessary [3]. Group 3: Additional Considerations - Auditors must ensure consistency in accounting policies throughout the reporting period, with any changes fully disclosed along with their impact on financials [5]. - Comprehensive identification of related parties and transactions is essential to verify fair pricing and prevent profit manipulation through related party transactions [5]. - Continuous assessment of the company's ability to operate is necessary, analyzing cash flow, debt repayment capacity, and profitability trends [5]. - For overseas subsidiaries, auditors must consider local accounting standards and ensure compliance with HKFRS [5]. - Verification of the legal validity of control agreements in VIE structures is crucial, along with assessing the realizability of economic benefits [5]. - Timely communication of significant issues discovered during audits, such as internal control deficiencies and financial anomalies, is required [5].