Hong Kong has adopted every IFRS word for word as Hong Kong Financial Reporting Standards effective in 2005, replacing old Hong Kong GAAP. Issues that Sir David addresses in the interview include the pace of change, the need for further improvements in existing standards, bringing the US on board with IFRSs, and the need for simplified standards for small and medium-sized entities.
Click for the interview (PDF 97k), copyright 2005 by HKICPA and posted with permission.