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      • If it is a small private company limited by guarantee, or its holding company, after the resolution of the general meeting of shareholders, more than 75% of the shareholders of the company vote in favor, and the other remaining voting members have no objection, they can be exempted.
      mexus.com.hk/en/how-to-exempt-from-hkfrs-reporting-which-companies-are-eligible-for-the-exemption/
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  2. The HKFRS also sets out the accounting requirements for the preparation of consolidated financial statements. IN7A Investment Entities (Amendments to HKFRS 10, HKFRS 12 and HKAS 27), issued in December 2012, introduced an exception to the

  3. Paragraph 4(a) of HKFRS 10 Consolidated Financial Statements also sets out exemption criteria in respect of which entities are exempt from preparing consolidated financial statements. The criteria set out in paragraphs 4(a)(i)-(iii) of HKFRS 10 are

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  4. HKFRS 10 Consolidated Financial Statements This content is not available in your region. About us Organization Overview Vision, Mission and Values Subsidiaries Awards Strategic Plan Library Contact us Governance Governance structure Council ...

  5. Paragraph 4 (a) of HKFRS 10 Consolidated Financial Statements also sets out exemption criteria in respect of which entities are exempt from preparing consolidated financial statements. The criteria set out in paragraphs 4 (a) (i)- (iii) of HKFRS 10 are typically met by any intermediate holding company which satisfies s379 (3) of the CO.

  6. Exemption for Preparing Consolidated Financial Statements. Section 379 (1) of the Companies Ordinance (“CO”) (Cap. 622) requires company’s directors to prepare for each financial year financial statements that meet the requirements of sections 380 and 383.

  7. The Amendments clarify the application of the consolidation exception for investment entities and its subsidiaries. The Amendments also clarify the application of the exemption from applying the equity method for entities that are subsidiaries and hold interests in associates and joint ventures.

  8. In accordance with HKFRS 10 Consolidated Financial Statements, an entity that is a parent, is required to consolidate all investees that they control (i.e. all subsidiaries). Under the amendments, if a parent