According to a report by Deep Tide TechFlow, the Hong Kong Institute of Certified Public Accountants has released the (2024-25 Annual Inspection Report) and (2024-25 Annual Investigation Report). Liu Jianru, head of the Inspection Division, stated that virtual asset trading companies will be one of the inspection targets this year.
The report points out that challenges faced by auditors include verifying ownership and existence of virtual assets, valuation complexity, increased fraud risk, and lack of unified accounting standards. Companies have insufficient understanding of business models, control activities, and risks related to virtual assets, and have not assessed or addressed the effectiveness of relevant internal control design and implementation.