Page 76 - Annual Report

HONG KONG ACADEMY OF MEDICINE
香 香港醫學專科學院
學
院
科
學
專
港
醫
CONSOLIDATED STATEMENT OF INCOME AND EXPENDITURE
FOR THE YEAR ENDED 31 DECEMBER 2024

電話 Main +852 2894 6888
INDEPENDENT AUDITOR’S REPORT TO THE COUNCIL OF 傳真 Fax +852 2895 3752
HONG KONG ACADEMY OF MEDICINE www.crowe.hk
香 香港醫學專科學院 Note 2024 2023
專
科
學
醫
港
學
院
(Established in Hong Kong) HK$ HK$

Subscriptions and fees 4 37,002,450 33,016,100
(Continued)
Other revenue 5 16,851,512 17,490,981

Total revenue 53,853,962 50,507,081
Auditor’s responsibilities for the audit of the consolidated financial statements (Continued)
Other income and other net gain 6 16,060,679 32,446,262
 Conclude on the appropriateness of the council members’ use of the going concern basis of
accounting and, based on the audit evidence obtained, whether a material uncertainty exists related
to events or conditions that may cast significant doubt on the Group’s ability to continue as a going Depreciation 9 (5,717,884) (5,579,105)

concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Staff costs 7 (30,261,054) (27,961,192)
auditor’s report to the related disclosures in the consolidated financial statements or, if such
disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence
obtained up to the date of our auditor’s report. However, future events or conditions may cause the Other operating expenses (37,082,860) (38,750,726)
Group to cease to continue as a going concern.
(Deficit)/surplus for the year 7 (3,147,157) 10,662,320
 Evaluate the overall presentation, structure and content of the consolidated financial statements,
including the disclosures, and whether the consolidated financial statements represent the
underlying transactions and events in a manner that achieves fair presentation.

 Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the
financial information of the entities or business units within the group as a basis for forming an
opinion on the group financial statements. We are responsible for the direction, supervision and
review of the audit work performed for purposes of the group audit. We remain solely responsible for
our audit opinion.

We communicate with the council members regarding, among other matters, the planned scope and
timing of the audit and significant audit findings, including any significant deficiencies in internal control
that we identify during our audit.

Crowe (HK) CPA Limited
Certified Public Accountants
Hong Kong, 17 July 2025

Poon Cheuk Ngai
Practising Certificate Number P06711

The accompanying notes form an integral part of these consolidated financial statements.
HCH1010-2024

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74 HKAM Annual Report 2025