As part of its regulatory function, the Hong Kong Stock Exchange (“the Exchange”) operates a Financial Statements Review Programme (“the “FSRP”) under which it reviews, on a sample basis, listed issuers’ published quarterly, interim and annual reports. The Exchange regularly publishes reports of its key observations and findings from the FSRP to increase listed issuers’ awareness of the possible pitfalls in the preparation of their financial reports such that they may learn from others’ experience and improve the quality of their own financial reports. On 17 July 2015, the Exchange published a report which summarises the key findings and recommendations for improvement in disclosures in the listed issuers’ annual reports from its review of 100 periodic financial reports released by listed issuers between October 2014 and April 2015. This issue provides a summary of the Exchange’s findings and recommendations.
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