TY  - JOUR
AB  - The Hong Kong Society of Accountants proposes to allow
incorporating audit practices in Hong Kong. Finds that auditors are
anxious about their increasing risk and the legal liabilities of their
work, believing that incorporation is the best method to protect their
interests. Many auditors believe that the profession should place the
public interests at the top but the interests of the profession should
also be protected. Therefore incorporation of the audit practice is
necessary in Hong Kong, but strict rules should be imposed to prevent
abuse. In addition, finds that clients are not concerned about this
issue. The bankers will give a lower value to the audited financial
statements issued by incorporated audit firms. In implementation, the
professional indemnity insurance and the minimal capital requirement
will become the key concern of auditors to incorporate their audit
firms.
VL  - 8
IS  - 6
SN  - 0268-6902
DO  - 10.1108/02686909310042758
UR  - https://doi.org/10.1108/02686909310042758
AU  - Yam Stephen C.
AU  - Yam Phoebe W.
PY  - 1993
Y1  - 1993/01/01
TI  - Incorporating Audit Firms in Hong Kong: Issues and Problems
T2  - Managerial Auditing Journal
PB  - MCB UP Ltd
Y2  - 2024/05/10
ER  -