SME的Defered tax問題

Yes, being SME you can choose either

1. SME-FRS (if fullfilling conditions in SME-FRF),

2. full HKFRSs or

3. HKFRS for Private Entities ( if it do not have public accountability; and publish general purpose financial statements for external users) ,

but you have to either adopt full set of only one of these but not a mixed.

However, if a SME provides a true and fair view FS and provides for deferred tax then it can only choose between full HKFRSs and HKFRS for Private Entities.


http://www.hkicpa.org.hk/en/standards-and-regulations/standards/hkfrs-pe-info-centre/

I suppose you are working in a CPA firm. The application of SME-FRS is under s141D of the Companies Ordinance, applies for a ‘true and correct view’ and disclosure requirements under the Eleventh Schedule. The guidance notes under the SME-FRS should explain what the Ordinance requires for a ‘true and correct view’ under s141D disclosure, but strange enough is that the massive information requirement obviously deviates from Eleventh Schedule of the Companies Ordinance.As you are well aware, HKICPA has practice review. Your firm apparently does not meet the technical requirement of the HKICPA and therefore can be subject to disciplinary actions. You can choose to leave the firm because they cannot provide you with proper training.For reference only!