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Insights

CW CPA Professional Insights on China and Cross-Border Business

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ISA / HKSA 600 (Revised): Key Changes and Practical Implications

The revised group audit standard became effective for periods beginning on or after 15 December 2023. It fundamentally reshapes how auditors approach scoping, supervision, communication, and documentation in multi-component engagements. This guide provides a practitioner-focused overview of the most significant changes and their practical consequences for group and component auditors.

ISA 600 Component Auditor Playbook for Group Audits in Hong Kong

This comprehensive ISA 600 (Revised) component auditor playbook is designed specifically for Hong Kong audit firms and Asia-Pacific component auditors executing group audit engagements. The guide provides practical implementation frameworks for building execution credibility through five core disciplines: faithfully receiving and confirming group instructions, performing risk-responsive planning and scoping, maintaining rigorous PBC discipline, delivering clear and timely reporting, and escalating matters constructively.

Hong Kong NGO Legal Structures: Complete Guide to CLG vs Society vs Trust

Choosing between a CLG, registered society, or charitable trust is crucial for Hong Kong NGOs. This guide compares legal structures, governance frameworks, audit requirements, and fundraising credibility. Learn which structure best suits your organization's needs for regulatory compliance, donor confidence, and long-term sustainability.

From the 14th to the 15th Five-Year Plan: How China’s Approach to Foreign Direct Investment Is Changing

As China prepares its 15th Five-Year Plan (2026–2030), understanding the direction of policy requires more than reading the new document in isolation. By comparing the 14th and 15th Five-Year Plans, clear changes emerge in how China approaches foreign direct investment. While openness remains, greater attention is now placed on how foreign investment supports industrial upgrading, technology development, and long-term economic priorities. This article outlines what has changed—and what foreign investors should consider when planning their China strategy for the next planning cycle.

Making NGO Governance Work in Practice: A Practical Toolkit for Boards

A practical, experience-based guide to NGO governance that moves beyond policies and checklists. This article sets out a usable governance toolkit for boards and management teams—covering decision authority, conflicts of interest, safeguarding, risk, and donor-facing assurance—designed to translate governance principles into day-to-day practice.

Financial Due Diligence in a Traditional Framework: What Investors Really Get, How It Differs from Audit, and What to Focus On

Financial Due Diligence (FDD) is a transaction-focused financial review that normalizes and aligns a target’s financials to support valuation and deal structuring. It does not provide an audit opinion or recommend price. Instead, it delivers restated financials, normalized EBITDA bridges, and balance-sheet clarity, highlighting issues that materially affect earnings quality, net assets, working capital, and net debt. This article explains what clients should expect from FDD, how it differs from an audit, what investors should review in an FDD report, common misunderstandings and limitations, typical Hong Kong and PRC accounting surprises, and the key questions investors should ask to extract decision-useful insights.
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