Inspection readiness for sole proprietors
FY2026/27 Practice Protection Package
Inspection Preparation Support for Sole Proprietors without Employees
Sole proprietors in Hong Kong, including practitioners operating on a part-time basis with no employees, face distinct audit-quality and regulatory compliance demands. Limited resources, time constraints, and increasing regulatory scrutiny can make it difficult to keep pace with documentation, monitoring, and inspection-readiness requirements.
This package provides practical support tailored to sole proprietors without employees, helping to strengthen quality-management and AML documentation while preparing the practice for regulatory review.
View Packages for Practices with EmployeesThe Inspection Preparation Package
Designed to provide essential compliance support for FY2026/27, the package includes the following services.
Customized SQM Manual
A manual tailored to the practice and aligned with the Hong Kong Standard on Quality Management (HKSQM 1). EQC uses tracked changes to demonstrate clearly how and where the practice has modified the HKICPA templates. This provides a documented record of the customisations made for the practice, supporting the level of evidence expected by the AFRC.
2027 renewal readiness: In July 2026, the AFRC advised CPA practices that it will follow up on SQM compliance, including external monitoring reviews, as part of the 2027 practising-certificate renewal process expected in November to December 2026. Early preparation allows a practice to document, assess, and remediate its SQM arrangements before that process.
Customized AML Manual
A manual designed to meet the Hong Kong Guidelines on Anti-Money Laundering and Counter-Terrorist Financing for Professional Accountants, tailored to the practice’s AML/CTF procedures and documentation needs.
In addition to audit inspections, the AFRC has taken steps to perform AML compliance inspections (AMCI). Ongoing monitoring of accepted clients and their stakeholders must be supported by real-time searches conducted at least monthly. This process should be updated promptly because searches cannot be backdated.
Audit Program 4.1 Access
The package includes one month of unlimited use of Audit Program 4.1 (AP4.1), with one installation included. AP4.1 is EQC’s audit automation technology for Hong Kong CPA practices, designed to support more efficient audit execution, consistent documentation, organized engagement files, management oversight, and more timely preparation of working papers and illustrative audited financial statements.
Package Price
The FY2026/27 Practice Protection Package is tailored for sole proprietors without employees who require focused inspection-preparation and compliance support.
Optional Add-Ons for Additional Support
Practices that require more tailored support may add the following services to strengthen compliance and audit quality.
Private Consultancy Sessions
One-to-one practical consultation on the practice’s quality-management, AML/CTF, inspection-preparation, and audit-quality matters.
Ongoing Policy Monitoring Review
Ongoing monitoring of the practice’s compliance with the policies and procedures set out in its SQM and AML manuals, supporting continuous compliance readiness.
Completed File Monitoring Review
A detailed review of completed audit files to identify practical opportunities to strengthen audit documentation, quality, and inspection preparedness.