Odaily Planet Daily News: The Hong Kong Accounting and Financial Reporting Council released the "2024-25 Annual Inspection Report" and "2024-25 Annual Investigation Report". Liu Jianru, head of the Inspection Department of the Accounting and Financial Reporting Council, said that companies involved in virtual asset transactions are emerging industry projects and will be one of the inspection targets this year.

The report states that auditors currently face challenges including verifying the ownership and existence of virtual assets, the complexity of valuation, heightened fraud risks, and the lack of unified accounting standards for virtual assets. Audits also indicate that companies lack an understanding of virtual asset-related business models, control activities, and risks; fail to assess the design and implementation effectiveness of internal controls related to virtual asset transactions and client virtual asset custody; and fail to design and implement adequate audit procedures to verify virtual asset ownership, the occurrence of hash transactions, and the valuation of virtual assets. (Hong Kong Wen Wei Po)