EQC Compliance Advisory
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Practical compliance, monitoring, inspection-readiness, and audit-automation support for Hong Kong CPA practices.
Compliance support and audit technology
Practical support for sustainable practice improvement
EQC provides practical compliance, quality-management, monitoring, and audit-automation support for Hong Kong CPA practices. Our services are designed to help practice owners turn regulatory requirements into documented, sustainable processes—so they can prepare for inspection with confidence while maintaining focus on clients, growth, and operations.
SQM / AML Consultancy
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Customised documentation with practical implementation support
EQC develops SQM and AML/CTF manuals that reflect a practice’s own risks, operational structure, client portfolio, and procedures—not a generic template. For SQM work, we use 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 and supports the level of evidence expected by the AFRC.
For AML/CTF, the manual is designed around the Hong Kong Guidelines on Anti-Money Laundering and Counter-Terrorist Financing for Professional Accountants and the practice’s actual client-acceptance, risk-assessment, escalation, and record-keeping procedures. 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 therefore be supported by real-time searches at least monthly; this process should be updated promptly because searches cannot be backdated.
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 enables a practice to document, assess, and remediate its arrangements before that process.
External Monitoring Review Services
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Independent monitoring to strengthen inspection readiness
EQC provides independent external monitoring support through completed file monitoring reviews and ongoing policy monitoring reviews. The work is designed to help a practice evaluate the operation of its quality management system, identify documentation or implementation gaps, and record practical remediation actions that can be followed through by management.
An external monitoring review is more than a retrospective file check. It provides focused evidence of whether the practice’s policies and procedures are operating as intended, while helping to strengthen audit documentation, consistency, and readiness for regulatory follow-up. This is particularly timely following the AFRC’s July 2026 advice that SQM compliance, including external monitoring reviews, will be followed up in the 2027 practising-certificate renewal process expected in November to December 2026.
Open External Monitoring Review BrochureAudit Program 4.1 (AP4.1)
Audit automation built for Hong Kong CPA practices
Audit Program 4.1 is EQC’s latest generation of audit-automation technology. It is designed for practices navigating talent shortages, rising operating costs, increased AFRC inspection intensity, incomplete working papers, inefficient audit-file organisation, and billing delays caused by manual audit and financial-statement preparation.
AP4.1 is a major workflow enhancement that helps practice owners and management members execute audits more efficiently, maintain consistent documentation, organise engagement files systematically, and prepare working papers and illustrative audited financial statements more promptly.
Discuss Your Practice Priorities
EQC can discuss quality management, AML/CTF, external monitoring, inspection readiness, and audit-technology support relevant to your practice.