Page 74 - Annual Report

電話 Main +852 2894 6888 電話 Main +852 2894 6888
傳真 Fax +852 2895 3752 INDEPENDENT AUDITOR’S REPORT TO THE COUNCIL OF 傳真 Fax +852 2895 3752
www.crowe.hk www.crowe.hk
INDEPENDENT AUDITOR’S REPORT TO THE COUNCIL OF 電話 Main +852 2894 6888 HONG KONG ACADEMY OF MEDICINE
港
專
醫
學
科
學
院
HONG KONG ACADEMY OF MEDICINE 傳真 Fax +852 2895 3752 香 香港醫學專科學院
香 香港醫學專科學院 www.crowe.hk (Established in Hong Kong)
專
科
學
港
醫
學
院
(Established in Hong Kong)

(Continued)

Opinion Responsibilities of the council members for the consolidated financial statements

We have audited the consolidated financial statements of Hong Kong Academy of Medicine (“the The council members of the Academy are responsible for the preparation of the consolidated financial
Academy”) and its structured entity, The Hong Kong Academy of Medicine Foundation Fund (collectively statements that give a true and fair view in accordance with HKFRSs issued by the HKICPA and section
“the Group”) set out on pages 4 to 34, which comprise the consolidated statement of financial position as 14 of Hong Kong Academy of Medicine Ordinance, and for such internal control as the council members
at 31 December 2024, the consolidated statement of income and expenditure, the consolidated statement determine is necessary to enable the preparation of consolidated financial statements that are free from
of income and expenditure and other comprehensive income, the consolidated statement of changes in material misstatement, whether due to fraud or error.
reserve and funds and the consolidated statement of cash flows for the year then ended, and notes to the
consolidated financial statements, including material accounting policy information. In preparing the consolidated financial statements, the council members are responsible for assessing the
Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern
In our opinion, the consolidated financial statements give a true and fair view of the consolidated financial and using the going concern basis of accounting unless the council members either intend to liquidate the
position of the Group as at 31 December 2024, and of its consolidated financial performance and its Group or to cease operations, or have no realistic alternative but to do so.
consolidated cash flows for the year then ended in accordance with HKFRS Accounting Standards
(“HKFRSs”) issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”) and have been
properly prepared in compliance with the Hong Kong Academy of Medicine Ordinance. Auditor’s responsibilities for the audit of the consolidated financial statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as
Basis for opinion a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report
that includes our opinion. This report is made solely to you, as a body, in accordance with section 14 of the
We conducted our audit in accordance with Hong Kong Standards on Auditing (“HKSAs”) issued by the Hong Kong Academy of Medicine Ordinance, and for no other purpose. We do not assume responsibility
HKICPA. Our responsibilities under those standards are further described in the Auditor’s responsibilities towards or accept liability to any other person for the contents of this report.
for the audit of the consolidated financial statements section of our report. We are independent of the
Group in accordance with the HKICPA’s Code of Ethics for Professional Accountants (the “Code”), and we Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
have fulfilled our other ethical responsibilities in accordance with the Code. We believe that the audit accordance with HKSAs will always detect a material misstatement when it exists. Misstatements can
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. arise from fraud or error and are considered material if, individually or in the aggregate, they could
reasonably be expected to influence the economic decisions of users taken on the basis of these
consolidated financial statements.
Other information
As part of an audit in accordance with HKSAs, we exercise professional judgement and maintain
The council members of the Academy are responsible for the other information. The other information professional scepticism throughout the audit. We also:
comprises all the information included in the annual report, other than the consolidated financial
statements and our auditor’s report thereon.  Identify and assess the risks of material misstatement of the consolidated financial statements,
whether due to fraud or error, design and perform audit procedures responsive to those risks and
Our opinion on the consolidated financial statements does not cover the other information and we do not obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of
express any form of assurance conclusion thereon. not detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
In connection with our audit of the consolidated financial statements, our responsibility is to read the other internal control.
information and, in doing so, consider whether the other information is materially inconsistent with the
consolidated financial statements or our knowledge obtained in the audit or otherwise appears to be  Obtain an understanding of internal control relevant to the audit in order to design audit procedures
materially misstated. that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Group’s internal control.
If, based on the work we have performed, we conclude that there is a material misstatement of this other
information, we are required to report that fact. We have nothing to report in this regard.  Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the council members.

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72 HKAM Annual Report 2025