Showing 161 - 168 of 274 results
Press Releases
Press Releases Completed investigation 8 July 2019 Financial Reporting Council publishes consultation conclusions on Proposed Sanctions Guidelines 31 May 2019 Financial Reporting Council welcomes the consultation conclusions on proposed rule changes relating to disclaimer or adverse audit opinion on issuer’s financial statements published by The Stock Exchange of Hong Kong Limited 24 May 2019 The Supervision and Evaluation Bureau of the Ministry of Finance and the Financial Reporting Council of the Hong Kong Special Administrative Region sign a Memorandum of Understanding to promote cross-boundary cooperation and enhance audit quality 22 May 2019 Completed investigation 22 May 2019 FRC Welcomes the Gazettal of the Commencement Notice of Financial Reporting Council (Amendment) Ordinance 2019 17 May 2019
Press Releases
Press Releases FRC welcomes the Government’s reappointment of an NED 30 September 2022 AFRC Launch Ceremony to inaugurate the commencement of the new regulatory regime of the accounting profession 30 September 2022 Hong Kong Police Force signs MoU with FRC to enhance collaboration in upholding integrity and fairness of financial market 16 September 2022 Press statement on cross-border collaboration on audit regulation among PRC’s Ministry of Finance, China Securities Regulatory Commission and the Public Company Accounting Oversight Board 26 August 2022 FRC and HKICPA sign Revised Statement of Protocol on Oversight Arrangement to reflect broader oversight by the AFRC 16 August 2022 FRC to Investigate Accounts and Audits of China Evergrande and Evergrande Property Services in respect of Certain Transactions 15 August 2022
AFRRT confirms AFRC’s decisions to suspend Chiang Sham Lam Anthony and Anthony S. L. Chiang & Co. for serious violations of fundamental auditor independence requirements
In its determination of the Regulatees’ review application, the Accounting and Financial Reporting Review Tribunal’s ( AFRRT ) has confirmed and upheld the AFRC’s decisions against the Regulatees for (i) breaching fundamental independence requirements when performing audits ( Audits ) for five private companies ( Companies ) over 22 years and (ii) failing to establish and maintain an effective quality control system to ensure independence. ... Ms Hester Leung, Head of Discipline, said, “The requirement of auditor independence is of fundamental importance and lies at the heart of every audit. Upholding auditor’s independence is essential to maintaining public trust in audits and the reliability of financial reporting. Firms must have effective quality control systems in place to safeguard independence and uphold the integrity of their audits. We welcome the AFRRT’s determination which reinforces this message.”
Our Role
The AFRC is also responsible for overseeing the performance of the Hong Kong Institute of Certified Public Accountants (HKICPA) in relation to their functions concerning auditors of listed entities, including registration, setting standards on professional ethics, auditing and assurance, and setting continuing professional development requirements. ... We perform our functions fairly, impartially and consistently, free from interference by the auditing profession and listed entities, and from political pressure. ... Inspection and enforcement of audit quality in the accounting profession.
Associate Director
Policy, Registration and Oversight Associate Director Responsibilities Drive high-impact research on audit, financial reporting, and governance to inform policies that strengthen the accounting ecosystem. Oversee the monitoring of global and local developments in professional standards and guide the development of practical guidance that elevates audit and reporting quality. ... At least 6 years of relevant post-qualification experience in audit. Motivated and have a strong desire to develop a long-term career within a regulatory body.
AFRC sets out Strategic Priorities for 2025-2027
These priorities support the AFRC’s mission to safeguard the public interest by maintaining high standards in auditing and financial reporting, thereby fostering trust in Hong Kong’s capital markets and the accounting profession. ... The AFRC's strategic priorities for 2025-2027 are based on four key pillars: Regulation : Upholding the quality of financial reporting and audit, thereby safeguarding stakeholder and public interests. Governance : Cultivating a healthy environment based on high-quality financial reporting and audit through robust governance.
FRC Welcomes Government’s Announcement of Injection of Seed Capital of HK$ 400 Million for the FRC in the 2019-2020 Budget
The FRC will also be overseeing the performance of the Hong Kong Institute of Certified Public Accountants of their functions in relation to auditors of listed entities including registration; standards in professional ethics, auditing and assurance; and continuing professional development requirements. ... When the Ordinance takes effect, it will enable Hong Kong to meet the membership requirements of the International Forum of Independent Audit Regulators (IFIAR) whereby members from around the world share their regulatory experience and inspection findings with an aim of enhancing audit quality globally.
Associate Director / Manager
At least 7 years of relevant post-qualification experience in audit. Strong IT audit knowledge is a plus. Extensive exposure and knowledge to financial reporting, auditing and assurance standards, and listing rules.