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AFRC issues 2022 Interim Inspection Report and Report on Oversight of HKICPA regulatory functions
15 Nov, 2022

The Accounting and Financial Reporting Council (AFRC) today issues its:

  1. 2022 Interim Inspection Report on its inspections of public interest entity (PIE) auditors completed from 1 April 2022 to 30 September 2022; and
  2. 2022 Oversight Report on its oversight of the performance by the Hong Kong Institute of Certified Public Accountants (HKICPA) of specified regulatory functions relating to PIEs and their auditors (Specified Functions) from 1 April 2021 to 31 March 2022. 

Dr Kelvin Wong, Chairman of the AFRC said, “The quality of the accounting profession, the quality of audit and the quality of financial reporting are intertwined in the financial reporting ecosystem.  We expect these Reports will bring positive impacts to the continuous enhancement of the quality of financial reporting and create ripple effects that would increase public trust on both the profession and the capital market.”

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