Inspection readiness for practice units
FY2026/27 Practice Protection Package
Inspection Preparation Support for Practice Units with Employees
Practice units with employees need a practical, coordinated approach to audit quality, quality-management documentation, AML/CTF procedures, and inspection readiness. The FY2026/27 package provides structured support for practices seeking to strengthen their controls while maintaining focus on client service, business development, and operations.
The package combines tailored manuals, AP4.1 access, private consultation, and monitoring support to help a practice translate compliance requirements into documented and sustainable working arrangements.
View Package for Sole Proprietors without EmployeesThe Inspection Preparation Package
The FY2026/27 package includes the following integrated 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 creates a documented record of the customisations made for the practice, supporting the 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 (AP4.1)
The package includes a one-year AP4.1 subscription with unlimited credits for three users. AP4.1 supports more efficient audit execution, consistent documentation, organised engagement files, management oversight, and more timely preparation of working papers and illustrative audited financial statements.
Four-Hour Private Consultation
Four hours of one-to-one consultation at the practice’s office, providing guidance on implementation of the SQM and AML manuals, completed-file review findings, the AFRC inspection process, common findings, and questions arising from the practice’s own audit engagements and circumstances.
External Monitoring Review
One completed-file monitoring review and an ongoing policy monitoring review for the most recent calendar year. These services support the practice’s monitoring responsibilities under HKSQM 1 and strengthen the evidence available for quality-management follow-up.
Package Price
The FY2026/27 Practice Protection Package is designed for practice units with employees requiring integrated inspection-preparation and compliance support.
Optional Add-Ons for Additional Support
Practices that require additional tailored support may add the following services.
Additional Private Consultancy Sessions
One-to-one practical consultation on quality management, AML/CTF, inspection preparation, and audit-quality matters.
HK$3,500 per hour; HK$1,700 for each additional half hour.
Completed File Monitoring Review
An additional detailed review of completed audit files to identify opportunities to strengthen audit documentation, quality, and inspection preparedness.
HK$12,500 to HK$22,500, depending on engagement complexity.